Aspire Visa Credit Card Account Tips
Author: philip
Posted: Fri Oct 24, 2003 5:52 pm
Post subject: Aspire Visa Credit Card Account Tips
hi guys,
today i got a letter from aspire visa letting me know that my account was closed due to inactivity. there was no balance on this account which was my first major card and was issued to me in 2001. i used it as a "stepping stone" card to in order to establish some credit since i am young. payments were always paid in full and on time. it really doesn't matter to me that the card was closed since i never planned to use it again and use my BOA visa almost exclusively, plus, i have a discover card just as a backup.
my problem is, how is this going to look on my credit report? does having an account closed due to inactivity look bad? i'm not planning on making any large puchases like a home or a car anytime soon, perhaps, a new car in about a year and a half. should i call and ask what is going to be reported to the credit bureaus and also should i maybe inquire about having my account reopened just to get the $6000 limit back? from the 3 major cards i mentioned there was about a $16,000 limit total and i carry $4000 on the BOA visa so as you can see the ratio isn't looking so good.
any advice would be appreciated!
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Author: Ira
Posted: Fri Oct 24, 2003 11:24 pm
Post subject: Aspire Visa Credit Card Account Tips
As far as I know your report will show account closed by card issuer, which is more negative than positive, but still not bad. I wouldn't worry about it, but next time be proactive and ask the card issuer to close the account. Your report will then show account closed by borrower which is somewhat more positive.
Author: Aisha
Posted: Sun Oct 26, 2003 8:18 pm
Post subject: Aspire Visa Credit Card Account Tips
As long as you were never late and paid as agreed it won't hurt too bad. Better to have you close it. Why Aspire---not a very reputable place. Write a statement to the CRA's saying (if it has zero balance) you told them to close it and thought they had until you got this letter. Dispute that it was you who closed it.
Author: philip
Posted: Mon Oct 27, 2003 11:12 am
Post subject: Aspire Visa Credit Card Account Tips
thanks for your replies, ira and aisha.
i'm going to order my reports online and try the dispute angle...
i had planned to close the account next year. i only kept it open to have it as an established card. i just should have used it every once in a while. at least i now know what to do in the future about my cards.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: karna68
Posted: Tue Oct 28, 2003 8:16 am
Post subject: Aspire Visa Credit Card Account Tips
Or to keep the card active just make a small purchase on it once a month, like a tank of gas and pay it off once you get the statement.
Posted: Fri Oct 24, 2003 5:52 pm
Post subject: Aspire Visa Credit Card Account Tips
hi guys,
today i got a letter from aspire visa letting me know that my account was closed due to inactivity. there was no balance on this account which was my first major card and was issued to me in 2001. i used it as a "stepping stone" card to in order to establish some credit since i am young. payments were always paid in full and on time. it really doesn't matter to me that the card was closed since i never planned to use it again and use my BOA visa almost exclusively, plus, i have a discover card just as a backup.
my problem is, how is this going to look on my credit report? does having an account closed due to inactivity look bad? i'm not planning on making any large puchases like a home or a car anytime soon, perhaps, a new car in about a year and a half. should i call and ask what is going to be reported to the credit bureaus and also should i maybe inquire about having my account reopened just to get the $6000 limit back? from the 3 major cards i mentioned there was about a $16,000 limit total and i carry $4000 on the BOA visa so as you can see the ratio isn't looking so good.
any advice would be appreciated!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ira
Posted: Fri Oct 24, 2003 11:24 pm
Post subject: Aspire Visa Credit Card Account Tips
As far as I know your report will show account closed by card issuer, which is more negative than positive, but still not bad. I wouldn't worry about it, but next time be proactive and ask the card issuer to close the account. Your report will then show account closed by borrower which is somewhat more positive.
Author: Aisha
Posted: Sun Oct 26, 2003 8:18 pm
Post subject: Aspire Visa Credit Card Account Tips
As long as you were never late and paid as agreed it won't hurt too bad. Better to have you close it. Why Aspire---not a very reputable place. Write a statement to the CRA's saying (if it has zero balance) you told them to close it and thought they had until you got this letter. Dispute that it was you who closed it.
Author: philip
Posted: Mon Oct 27, 2003 11:12 am
Post subject: Aspire Visa Credit Card Account Tips
thanks for your replies, ira and aisha.
i'm going to order my reports online and try the dispute angle...
i had planned to close the account next year. i only kept it open to have it as an established card. i just should have used it every once in a while. at least i now know what to do in the future about my cards.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: karna68
Posted: Tue Oct 28, 2003 8:16 am
Post subject: Aspire Visa Credit Card Account Tips
Or to keep the card active just make a small purchase on it once a month, like a tank of gas and pay it off once you get the statement.
posted by CardRatings.com at 1:13 PM
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