I'm in the process of rebuilding my credit. Everything is caught up but I found an old Victoria Secret Angel card that my wife must have opened up 4 or 5 years ago on my reports. It hasn't reported activity since 2010 and it has no negative marks.
I probably should have asked first but I only have 19-21 accounts listed on my report. Only 9 of which are open. So I ordered a replacement card and told her to spend $150 in order to get it active. It only has a $500 limit so I'm paying most of it off the this month and the rest over a few months.
I was just curious as to what kind of score impact this would have.....If any. I have 10 accounts with lates on them at some point, 4 of which are charge offs from 2010-2011(3 are paid, in the process of GW) the 4th never went to collections and I can't find who to pay. Plus 2 paid collections from 2010-2011 I'm trying to remove through GW.
I just need more positive accounts and this seemed like a good place to jump to after getting 2 USAA Secured Cards. Plus my history is only averaging 5 years.
Well she did it, I appreciate the replies. She spent the money, I already paid it down to $50 and set up a couple more payments for the next couple months to pay it off. Hopefully it helps my reports, even if it's minor. Maybe ill get a CLI out of it in 6 months or so.