Hello, My wife's first credit card was an Aspire Visa with a horrible 35% APR and $135 annual fee. It worked ok for her though since one year afterwards she got a 11,400 sears mastercard. At that time I didn't know anything about scores so I urged her to close the Aspire account to avoid paying another annual fee. Now, I am thinking it might be good to reopen that account. The main objective would be so that I would be added as an AU and have a 2 year old account on my report. I am also thinking she might get better terms when reopening the account from Aspire and a CL increase ( it was 1200$) What do you all think? Would a closed and reopened account show up as an old account on the credit reports or would it show as a new account? Has anyone done anything like this? Thanks, Ioan
I had an Aspire Card for 4 years, but they never reported to the CRA's. So I dont know if reopening will do anything for you. However, if they did report for you in the past and you want to reopen only do so if they abolish the annual fee and bring the interest rate back to earth.
Perosonally I despise aspire I had the card for 4 years never was late or over 50% of the credit limit. And they would not raise my 2500 limit or lower my interest rate below 19%, the only thing they would do is send me letters to raise my limit if I gave them $100. I'm glad I dont have to deal with them anymore. Now that your wife has a reputable card, I would just let it age and wait for the offers to come in,
