Closed all cards... when will score bounce back?

[wallyworld123]

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@rootpooty wrote:

Ive never heard of conditions of approval that you are to close all credit cards.  I can see if you are low income and have way too many credit card accounts open and potential for BK but other than that ive never heard of it.

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+1 Congrats on your home!

[ireland381]

The collections are about 4-5 years old at least

I had a cap one card that was open and a us bank card that had been closed for years and almost paid off. Husband had open cap one card and a closed discover card. We had to pay off and close all 4, and now we have no cards at all.

[beb86]

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@ireland381 wrote:
The collections are about 4-5 years old at least

I had a cap one card that was open and a us bank card that had been closed for years and almost paid off. Husband had open cap one card and a closed discover card. We had to pay off and close all 4, and now we have no cards at all.

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I mean if you think about the positive, the only debt you have is a few small collections and a mortgage...If it has been less than 30 days you may (and I mean a tiny slight chance) be able to reopen the CC accounts. Just make sure there are no crazy provisions in your mortgage that says anything thing about opening CC accounts.

[Creditaddict]

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@beb86 wrote:

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@ireland381 wrote:
The collections are about 4-5 years old at least

I had a cap one card that was open and a us bank card that had been closed for years and almost paid off. Husband had open cap one card and a closed discover card. We had to pay off and close all 4, and now we have no cards at all.

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I mean if you think about the positive, the only debt you have is a few small collections and a mortgage...If it has been less than 30 days you may (and I mean a tiny slight chance) be able to reopen the CC accounts. Just make sure there are no crazy provisions in your mortgage that says anything thing about opening CC accounts.

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Yes, it seems pretty rare these days to re-open cards but worth a try for sure, especially Discover!  I have seen and heard a whole new Discover that is surpassing American Express SErvice these days... nothing makes me warm inside like a message that says you are being transferred to our Columbus OH call center!

[jamesdwi]

If either of you had an AMEX card I would try and re-open those cards first because of backdating goodness will kill most of the damage of starting over with no cards.