Re-opening old credit cards

[Anonymous]

Then I'm confusing length of credit history vs average age?

I assumed that if the card re opened since it was my first card it would show open from 2009 and the average age would also update to 4 years let's say instead of 2.


Anyway, when they do report I will let you all know what happens. (Hopefully nothing bad) thank you

[myjourney]

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@Anonymous wrote:
Then I'm confusing length of credit history vs average age?

I assumed that if the card re opened since it was my first card it would show open from 2009 and the average age would also update to 4 years let's say instead of 2.


Anyway, when they do report I will let you all know what happens. (Hopefully nothing bad) thank you

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I see where you getting confused 

AAoA = is calculated using both open and closed accounts

So as long as an account is on your CR's it's contributing towards your AAoA open or closed 

[Anonymous]

Thank you for clearing that up.
I hope I didn't make a huge mistake. When they report I'll let you know what happens and how the interim reports.

Thank you all again

[Firehorse]

Mistakes happen. That's why we're all here. To learn from them.

[myjourney]

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@Anonymous wrote:
Thank you for clearing that up.
I hope I didn't make a huge mistake. When they report I'll let you know what happens and how the interim reports.

Thank you all again

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You'll be fine 

Work on those GW's that can really help 

[Anonymous]

As soon as the tradelines start reporting and since they actually let me re open an old account (which to my understanding is unusual) ... I will hit them with the gw after a couple of months of on time payments since I still have 4 years before the delinquent payments fall off anyway (to my understanding).

I'm hoping beyond hope that since they actually re opened the accounts they might be kind enough to delete the bad stuff, too.

Will continue to push my luck as far as it can go

[myjourney]

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@Anonymous wrote:
As soon as the tradelines start reporting and since they actually let me re open an old account (which to my understanding is unusual) ... I will hit them with the gw after a couple of months of on time payments since I still have 4 years before the delinquent payments fall off anyway (to my understanding).

I'm hoping beyond hope that since they actually re opened the accounts they might be kind enough to delete the bad stuff, too.

Will continue to push my luck as far as it can go

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I'm thinking the same way ....so save the contact info you have and talk to them again

[CreditDunce]

If it was your oldest account, I think it was a smart move having them reopen the account.  It may not help in the short term, but an open TL never falls off your credit report. 

good luck with the reporting.  If it really is the same account number, I think it will report as the same account on your credit report.

Edit: I forgot to add, I don't think it matters if there is a gap in your credit report.  It certainly doesn't matter for those with Amex reporting an old MSD.  Moreover, small gaps are common from CCC's not reporting some months (e.g. no activity/statement or Discover giving a CLI).

[Anonymous]

I do hope it turns out to be smart or to my benefit.

But also I was kind of hoping that a three year gap and then good payment history would kind of flush out the bad payment history before. Not sure if that happens but I thought I would give it a shot and see.

[CreditDunce]

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@Anonymous wrote:
I do hope it turns out to be smart or to my benefit.

But also I was kind of hoping that a three year gap and then good payment history would kind of flush out the bad payment history before. Not sure if that happens but I thought I would give it a shot and see.

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I am sorry, the gap will probably not flush out any bad payment history.  However, any minor derog's (30&60's) are probably not hurting your score. I don't think they are factored in after 2 years.  The major derog's are still hurting, but their effect lessons with time. 

On the plus side, the account (small as it is) will start counting in your overall utilization numbers again.  If you don't have many open CC's it will also help there.  FICO likes to see a couple of zero balance CC's (not that I would worry about that unless you need to app for something).

Re-opening the account will probably have a minimum short term effect.  However, it should help you in the long term with CR age and AAoA.