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Need Advice / Ask To Reopen CC Account?

Established Member

Need Advice / Ask To Reopen CC Account?

Hello everyone, need some advice. Here's the story. 24,000 credit line on CitiBank credit card (that's alot).  They closed 1 year ago because I made a three payment that did not go through in 5 years. The 3rd one was a mistake due to moving, but I took care of it immediately after I was notified. They did not care.  I got my balance down from $19,000 (I know its ridiculous and stupid...its too years) and now down to $2,000.  Should I ask for the card to be reopened?  or just say screw it (which is how I feel).  Try to open another card.  I do have another CC with Bank of America $5900 credit line, only $850 on it but a 24% Interest Rate.   Thanks for advance for everyone's advice!

Message 1 of 10
9 REPLIES
Established Member

Re: Need Advice / Ask To Reopen CC Account?

199 views and no response....c'mon people!

Message 2 of 10
Valued Contributor

Re: Need Advice / Ask To Reopen CC Account?

A $24,000 line is a great credit line and takes a good amount of work to get later on from another creditor...it's already there, why not give it a shot to reopen? If you really dislike the company, then maybe it would be best for you to apply and work toward a new 20k+ card. Since you're on the fence, reopening is your best bet!


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 3 of 10
Established Member

Re: Need Advice / Ask To Reopen CC Account?

Thanks for your advice!

Message 4 of 10
Mega Contributor

Re: Need Advice / Ask To Reopen CC Account?


hellohello wrote:

Hello everyone, need some advice. Here's the story. 24,000 credit line on CitiBank credit card (that's alot).  They closed 1 year ago because I made a three payment that did not go through in 5 years. The 3rd one was a mistake due to moving, but I took care of it immediately after I was notified. They did not care.  I got my balance down from $19,000 (I know its ridiculous and stupid...its too years) and now down to $2,000.  Should I ask for the card to be reopened?  or just say screw it (which is how I feel).  Try to open another card.  I do have another CC with Bank of America $5900 credit line, only $850 on it but a 24% Interest Rate.   Thanks for advance for everyone's advice!


IMO your lucky they didn't balance chase you. It's worth a shot tho.

 




EQ FICO 548 3/3/16
Message 5 of 10
Senior Contributor

Re: Need Advice / Ask To Reopen CC Account?

I would ask for reopen, but I would expect a much smaller CL if they do reopen it.

Message 6 of 10
Senior Contributor

Re: Need Advice / Ask To Reopen CC Account?

I can bet if you paid down a $19k bal to $2k thay some other, better creditor would recognize that and give you a high initial line of $10,000+. try....maybe Chase or Amex?
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 7 of 10
Valued Contributor

Re: Need Advice / Ask To Reopen CC Account?

So you bounced payments 3 times and the account is closed a year ago. Give them a call but I'm almost certain Citi will say no. Bouncing payment is a bad thing, I'm surprised Citi didn't close the account when you bounced it on the second time. I heard stories where AMEX closes your account if you ever bounce, even if it is the first time you do so.

 

Message 8 of 10
Senior Contributor

Re: Need Advice / Ask To Reopen CC Account?

Yeah bouncing pmts regardless of circumstance is BAD.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 9 of 10
Highlighted
Valued Contributor

Re: Need Advice / Ask To Reopen CC Account?


hellohello wrote:

199 views and no response....c'mon people!


Any ideas what your scores are?  Like others say, I doubt if Citi is interested, you burned them three times, and paying down the balance you anyway owe doesn't make it (much) better.  So, you need to find others issuers, but don't expect such a high CL.   My take is that issuers will look at the CR and see that a high credit line apparently got you into trouble (whether there were good reasons or not!)

Message 10 of 10