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Kuhao
Posts: 1
Registered: ‎11-22-2008
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Reopening a Citibank CC account

Hello everyone,

Upon reviewing my credit report for the first time, I noticed a closed Citibank credit card accountThe card was opened in August 2000 with a credit limit of 300$.  It was closed by Citibank in May 2007, presumably for inacitivty.  (The last time it was used was March 2002.)  I suspect it was a student card and do not believe it ever received a credit limit increase.

I DID NOT open up this account and I did not even know it existed until I pulled my credit reportThankfully, the card in question has a clean recordAs such, it has only helped my credit scoreHowever, it is by far my oldest accountMy second oldest account was opened five years later, in August 2005Since then, I've opened one more credit card account, in November 2006, and two student loans, in January 2007 and February 2007.

My current (November 2008) Equifax score is approximately 750 and I have no reason to suspect the other two scores differ significantly.  (Both my Experian and TransUnion reports contained the same data.)  Although I know the closed Citibank account will remain on my credit reports for awhile, I'm worried my credit scores may take a severe hit when it eventually does fall off given the age disparity between my oldest and second oldest accounts.

My questions are as follows:

# 1 It is possible to reopen the Citi account that was closed in May 2007?

# 2 Assuming an affirmative answer to the first question, given my circumstances, would it be wise to do so?

#3 Assuming affirmative answers to the first two questions, what would reopening an account entailWhat I mean by this isA) Would I essentially have to reapply for the card and thus sustain a hard inquiryB) Would the account continue to show its original opening date of August 2000C) How would they report the period that the account was closed on my credit reports?

My sole reason for reopening the account would be to preserve its history as my oldest account rather than any actual need for credit.


Thank you all in advance for any advice you can provide.
Established Contributor
bamagirl1
Posts: 1,045
Registered: ‎12-30-2007
0

Re: Reopening a Citibank CC account

kuhao

 

Hi!

Don't know if they would re-open the card after that long without another hit. You may just want to call and ask if you can reopen can you keep the age..

 

but keep in mind even with it being closed you keep that good history for 10 yrs so that would be until 2017

~01/2008 Ficos TU 571-EX 647-EQ 652~
~3/21/2009 Ficos TU 705 EX 702 EQ 692~
~9/9/09 Ficos TU 718 EQ 693 EX???
~06/25/12 Ficos TU 719 EQ 677 EX??

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