Credit Card Center Advertiser Disclosure

Posts: 78
Registered: ‎05-06-2008
0 Kudos

Re: Just closed Macys- what happens next?

haulingthescoreup wrote:

Your scores will not necessarily drop, unless your util is affected enough to raise it into a new tier, and if you're penalized for losing your only retail card. Otherwise, the history stays on for ten years. Please read fused's "Closing Credit Cards", linked in my siggy.

That being said, I think you should try to re-open it now, not in a few months. If it's not costing you fees, then it's not harming you. If you're rebuilding, you need multiple clean accounts reporting month after month after month. That's what creates the new, better history. Use it, PIF it, use it, PIF it. Store cards usually don't have to be used as frequently as bank cards to keep them alive, so you can take it out of your wallet and just pull it out for birthdays, holidays, and so forth. It might not be a heavyweight in the world of CC's for now, but it is helping in its own way.

Macy's is usually pretty good about re-opening, but I would call back immediately in hopes that they wouldn't do a hard inq to re-open. You can tell them something about how you didn't realize that it was helping your credit, and you hope that one day, they'll be willing to give you more significant "guideline" increases. GL

Thanks for your suggestion.  I will call them today to see if they will reopen the account.  Thanks again.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.