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capitalone dont reopen credit card account??

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waihao0405
Established Member

capitalone dont reopen credit card account??

so i had capitalone credit card for 2 years and i closed maybe half year ago. and i chat with a person online to see if i can reopen that account. and he said all i can do is reapply? so they dont do reopen old credit account?

Message 1 of 6
5 REPLIES 5
09Lexie
Moderator Emerita

Re: capitalone dont reopen credit card account??

Think of it from the lenders point of view. A lot could have happened to your credit in 6 mos. ...let alone 30 days after closure.
Message 2 of 6
ceemee2203
Regular Contributor

Re: capitalone dont reopen credit card account??

I was told that they cannot re-open an account that a consumer has closed. They can only re-open an account that the creditor themselves have closed.

 

Whether or not that's true, I can't confirm. (But I did try the same thing a few months ago.)

Current Cards: AMEX Everyday ($15k), AMEX BCE ($20k), Amex Platinum, Arrival ($11.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($6.5k)

2/16 - 864 Fico EQ (CITI); 818 Fico Ex (AMEX)
Message 3 of 6
FinStar
Moderator Emeritus

Re: capitalone dont reopen credit card account??


@ceemee2203 wrote:

I was told that they cannot re-open an account that a consumer has closed. They can only re-open an account that the creditor themselves have closed.

 

Whether or not that's true, I can't confirm. (But I did try the same thing a few months ago.)


For the majority of lenders, accounts cannot be reopened as a result of any customer initiated request.  The only known exceptions by some lenders would be due to an error on their part (i.e. product change/non-acceptance of terms, client file mix up due to multiple accounts/consolidation, client changed mind with newly offered product-within terms of acceptance, court order/legal settlement, etc).

Message 4 of 6
distantarray
Established Contributor

Re: capitalone dont reopen credit card account??

i've been credit obsessed for last 2 years, and I'm a credit forum Junkie self admitted. I have never seen a company re-open any type of card.

 

Look at it from the creditor's point of view. Why would I help my client avoid a ding on his credit (inquiry) and also a ding to his average age of account? Remember the banks make money by taking responsible borrowers and making them look as irresponsible as possible.

 

Proof? If you have a 800+ score a single 30 days late can cost you over 130 points! driving your score down to as low as 670! and It will take you 3-4+ years to recover most of it.

 

Now if you had a 700, your looking at around a 70 point damage, and a rebound rate of only 9 months comparingly!

 

With Fico the higher the score, the harder the fall.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 5 of 6
ncks
Valued Member

Re: capitalone dont reopen credit card account??

If the account has not been closed for a year or more the account can be reopened.  I just had one reopened last week.  I called 800-707-0489 and you have to tell them there is the option so they can look because other than that they will tell you no.

Message 6 of 6
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