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Can I reopen my account???

Regular Contributor

Re: Can I reopen my account???

Typically, if you close an account, the creditor will have you reapply as opposed to just opening the account back up. It does vary. But, from what I've seen, if a file doesn't show extensive history with account, the creditor isn't going to be willing to just open back up, or any account for that  matter, without a HP.

 

I attempted to open my Chase Freedom back up, after closing it. And, they suggested I apply again, because unfoturnately since I had not had it long, they would need to review my CR.

 

Additionally, I understand that your mother is upset that you closed an account that she wanted to take advantage of. However, this is your file. And, a tummy tuck doesn't seem something that would require immediate medical funding. So, you needn't worry about opening up accounts because others are unable to do so themselves. You build a portfolio that's right for you. I'm not implying that your mother is irresonsible, or anything of that nature. But, IMO you should be priority number 1 when it comes to YOUR credit.

Starting FICO Feb 2015 [EQ 642][TU 668][EX 668]
Scores as of May 2015 [EQ 744][TU 771][EX 760]

Lowe's - 15,000 || CSP - 11,200 || Venture -10,750 || Citi DC - 10,000 || BOA BBR - 7,300 || BestBuy - 6,000 || Amazon - 6,000 || DiscoverIT - 7,000 || Quicksilver - 4,000 || AMEX ED - 3,000 || VS - 1300
Message 11 of 19
Valued Contributor

Re: Can I reopen my account???

Right now I've hit a wall as far as approvals go because I have so many recent inquiries and new accounts. 30% UTI after I closed the care credit, 100% on time payments, no baddies, 5 of my 8 cards were opened since January, 20+ inquiries on my TU
Amex Green| Capital One Quiksilver $21.5K| Marriott Rewards $7K| Spark Cash Select $6K| Citi Platinum Select AAdvantage $6.4K| Citi Double Cash $6K| Chase Freedom $5K| NCSECU $5K| Discover IT $2.9K| Citi Forward $2.9K|
Message 12 of 19
Regular Contributor

Re: Can I reopen my account???

I'd suggest hopping into the garden, with that kind of a growth in your file. Smiley Wink

 

But... what do I know about the garden? I can hardly keep myself in it. Smiley LOL

Starting FICO Feb 2015 [EQ 642][TU 668][EX 668]
Scores as of May 2015 [EQ 744][TU 771][EX 760]

Lowe's - 15,000 || CSP - 11,200 || Venture -10,750 || Citi DC - 10,000 || BOA BBR - 7,300 || BestBuy - 6,000 || Amazon - 6,000 || DiscoverIT - 7,000 || Quicksilver - 4,000 || AMEX ED - 3,000 || VS - 1300
Message 13 of 19
Contributor

Re: Can I reopen my account???


icyhot wrote:
Right now I've hit a wall as far as approvals go because I have so many recent inquiries and new accounts. 30% UTI after I closed the care credit, 100% on time payments, no baddies, 5 of my 8 cards were opened since January, 20+ inquiries on my TU

Sorry to say it but you should come join us in the garden. Sounds like now is not the right time for new applications, and since you are very responsible with on time payments, etc. your file will grow and before you know it you'll be out of the garden.

 

@Dhar33 None of us can stay in the garden with Nixon around -_-

FICO Scores TU -750 |EQ - 741 |EX -726 FOR REAL NOW Gardening Until June 2017

Message 14 of 19
Valued Contributor

Re: Can I reopen my account???

Even tho I knew my UTI would go up I do plan on paying my balances way down and closing some other cards. My reasoning for this is because I actually want to do business with as few banks as possible and id rather have a few good cards that I grow with than several cards I may or not use. So I want to get rid of any unnecessary credit. I know this won't raise my score much, but it will put me at ease as far as my credit file goes. Or is this a bad idea?
Amex Green| Capital One Quiksilver $21.5K| Marriott Rewards $7K| Spark Cash Select $6K| Citi Platinum Select AAdvantage $6.4K| Citi Double Cash $6K| Chase Freedom $5K| NCSECU $5K| Discover IT $2.9K| Citi Forward $2.9K|
Message 15 of 19
Established Contributor

Re: Can I reopen my account???


icyhot wrote:
Even tho I knew my UTI would go up I do plan on paying my balances way down and closing some other cards. My reasoning for this is because I actually want to do business with as few banks as possible and id rather have a few good cards that I grow with than several cards I may or not use. So I want to get rid of any unnecessary credit. I know this won't raise my score much, but it will put me at ease as far as my credit file goes. Or is this a bad idea?

You’ve gotta do what’s right for you!  I don’t mind juggling many accounts, so I may have left the unwanted accounts open until utilization on the “keepers” was lower.  However, if managing multiple accounts is not your thing, closing the unwanted accounts is probably best.  Regardless, once you get your balances down, your score will improve.

Current scores (FICO 8): EX-793, EQ-766, TU-760
NFCU Flagship $22K | NFCU Cashrewards $22K | Discover IT $34K | SECU Visa $10K | CSR $15K | Chase Marriott $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX SPG $23K | AMEX Hilton Surpass $15K | AMEX PRG | Aviator Red $26K | Citi TY Premier $11.6K | BoA Premium Rewards 23k | BoA Cash Rewards $15k | USAA AMEX $6K | Cap1QS $8K | BJs MC $13K | Walmart MC $5.1K | Loft MC $11,250 | Macy’s Store/Amex $10K/$4K | BR Visa $5K | JCP $7.5K | Kohl’s $3K | VS $3.2K | Home Depot $10K | Lowes $8.5K | Target $4.5k
Message 16 of 19
Contributor

Re: Can I reopen my account???


icyhot wrote:
Even tho I knew my UTI would go up I do plan on paying my balances way down and closing some other cards. My reasoning for this is because I actually want to do business with as few banks as possible and id rather have a few good cards that I grow with than several cards I may or not use. So I want to get rid of any unnecessary credit. I know this won't raise my score much, but it will put me at ease as far as my credit file goes. Or is this a bad idea?

Closing a bunch of cards isn't really beneficial but if you need to in order to keep up with your finances better then you should do it. Really it'll just lower your overall CL but if you can manage that then it shouldn't be a problem.

FICO Scores TU -750 |EQ - 741 |EX -726 FOR REAL NOW Gardening Until June 2017

Message 17 of 19
Valued Contributor

Re: Can I reopen my account???

Guess I'll just tell my mom to wait until September when my profile is a little cleaner 😬
Amex Green| Capital One Quiksilver $21.5K| Marriott Rewards $7K| Spark Cash Select $6K| Citi Platinum Select AAdvantage $6.4K| Citi Double Cash $6K| Chase Freedom $5K| NCSECU $5K| Discover IT $2.9K| Citi Forward $2.9K|
Message 18 of 19
Highlighted
Contributor

Re: Can I reopen my account???


icyhot wrote:
Guess I'll just tell my mom to wait until September when my profile is a little cleaner 😬

You gotta do what's right for you THEN do what's right for her. Sorry Smiley Sad

FICO Scores TU -750 |EQ - 741 |EX -726 FOR REAL NOW Gardening Until June 2017

Message 19 of 19