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@Anonymous wrote:
Finally someone sees where I'm coming from. While I understand the point of closures to prevent going back into debt, I only had $13k. It was very manageable but I wanted lower rates than what cards had. I kept one card though. Only reason I'm seeking reopening is utilization purposes since we all know that's the most important thing.
I think we all understand your thinking but you agreed to close these accounts if they gave you a loan. If you didn't like or agree with the terms, why didn't you go elsewhere?
@Anonymous wrote:
The closure requirement is actually nowhere in the loan agreement. It's just a policy of this credit union to require we request closures. I even asked them what if they don't close based on this request and I was told that's up to those banks, they just want me to authorize a request for closure.
Understood. I think the CU was pretty sure your creditors would close your accounts.
To answer your question OP, I do not think you will be able to reopen any accounts. They would make you reapply. I have never had any luck doing this.
If it were me I would pay off the loan first then re apply for those cards. If you left them in good standing paid and no lates you might have good results in re applying. I would not open them all again or just keep the limits low and manageable.