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Can you re-open old credit cards that you closed?

New Contributor

Can you re-open old credit cards that you closed?

Hello MyFico Family,

Before I got obsessed with my credit score, I never realized how important AAoA was to your credit. I had two First Premier cards which I hated due to their AFs. Because of this I closed both of them in Jan 2013. I had them both since 2007. Closing them really hurt my scores. Am I able to call them up and reopen these accounts and keep the original AAoA? Is it worth it since it is First Premier!? I am in process of getting a mortgage, so any score boost will help. Credit card wise, these were my oldest accounts. I was never late on these cards.

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7 REPLIES
Moderator Emerita

Re: Can you re-open old credit cards that you closed?

Closing cc's a few months ago should not have hurt your score. Did your util increase? Also if you are in the middle of getting a mtg, you shouldn't be doing anything to your credit.
Senior Contributor

Re: Can you re-open old credit cards that you closed?

Usually when you close a CC the reps will tell that you will not be able to re-open the same acct but are always more than welcome to re-apply for a new acct. But IDK if thats the same with other banks.

Banking with CBofTV, BofH, and BBVA. All three are free checking accounts.
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Valued Contributor

Re: Can you re-open old credit cards that you closed?


09Lexie wrote:
Closing cc's a few months ago should not have hurt your score. Did your util increase? Also if you are in the middle of getting a mtg, you shouldn't be doing anything to your credit.

+1  even with those closed, they are still in your reports for 10 years Smiley Happy



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Regular Contributor

Re: Can you re-open old credit cards that you closed?

AAoA is still being calculated on those closed accounts, so don't worry about them; the fees on those First Premier cards can be a bit excessive, so let them go, hopefully in good standing.

 

If your score went down, I can only guess it was because your utilization went up?

 

As for re-opening credit cards; its possible, but I wouldn't count on it. My Kohls card was closed and six months latter was re-opened, but then again that's a store card. 

Moderator

Re: Can you re-open old credit cards that you closed?


Volpes wrote:

AAoA is still being calculated on those closed accounts, so don't worry about them; the fees on those First Premier cards can be a bit excessive, so let them go, hopefully in good standing.

 

If your score went down, I can only guess it was because your utilization went up?

 

As for re-opening credit cards; its possible, but I wouldn't count on it. My Kohls card was closed and six months latter was re-opened, but then again that's a store card. 


+1 to this.  To the OP...what other accounts do you have open now?  What's your UTIL like?

 

I definitely think reopening FP is a bad idea.



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Valued Contributor

Re: Can you re-open old credit cards that you closed?

My first question where are you getting your scores?  Are they FICO or Fako scores?

 

I would agree it probably has to do with your util and if you pay that down you should be OK when the new balances are reported.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
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Super Contributor

Re: Can you re-open old credit cards that you closed?

 

Closing credit cards will never hurt your FICO score unless your revolving utilization increases as a result of losing the credit limits:

 

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/td-p/347190

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