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Darius1976
Posts: 52
Registered: ‎07-06-2013
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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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09Lexie
Posts: 25,954
Registered: ‎09-13-2012
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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.
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BearsAndTurtlesRtheBest
Posts: 3,578
Registered: ‎10-02-2012
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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.

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djc1puno
Posts: 1,715
Registered: ‎03-07-2013
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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 :smileyhappy:



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Volpes
Posts: 158
Registered: ‎03-10-2012
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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. 

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SunriseEarth
Posts: 4,096
Registered: ‎08-12-2013
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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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TiggerDat
Posts: 1,040
Registered: ‎10-15-2011
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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.



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pizzadude
Posts: 9,674
Registered: ‎01-28-2010
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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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