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Blogger
Posts: 928
Registered: ‎01-08-2010
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reopening old accounts

we had good credit long ago with companies like Amex, Sears, and GEMB/mervyns.  They show as good standing, paid and closed accounts on our credit.  I would love to try and reopen credit with these folks, but I have no clue how I would go about doing this.  I only have partial account numbers because its whats on my credit report.  How would I get them to reopen those accounts?  Any suggestions?
I live my life like I type, fast and with a lot of mistakes.
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02/04/2015 || TU 08: 728 EX 08: 709 EQ 08: 748

Epic Contributor
Posts: 24,083
Registered: ‎10-23-2007
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Re: reopening old accounts

I think pretty much everyone these days makes you re-apply especially if over like 3 months
Fico Scores: EQ- 647., TU 705 Sync, EX 700 (04/07/15)
I'm just trying to catch up to RON1
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
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Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: reopening old accounts

Closed accounts, especially those closed a substantial period of time ago, generally cannot be "re-opened" and you will have to re-apply for a new account.  AMEX is the exception, in that if you apply and are approved, you should get your original account date because they use "membership" date, not account date.

 

 

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Blogger
Posts: 928
Registered: ‎01-08-2010
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Re: reopening old accounts

Ok, good to know on the Amex.  So does that mean that they will report my account age as far back as when we were fisrt members?  If so that would instantly add 9 years to our account ages...which would just be total awesomeness.
I live my life like I type, fast and with a lot of mistakes.
Spacebar broken. Watch for finger.

02/04/2015 || TU 08: 728 EX 08: 709 EQ 08: 748

Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: reopening old accounts

Yes, as long as you were in good standing.  If you defaulted, CO'd or BK'd, they won't give you a new account no matter how long ago it was or if it is currently reported on CR.

 

If you opened your original account in 1982 and it closed in good standing, then your new account(s) will show that as your date.  So if you end up with several AMEX accounts, each will do the same.

 

I don't remember which forum member it was, but they have around 6 AMEX accounts strictly because of the age it adds to their CR's and FICO because of their "member since" date being well aged.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Blogger
Posts: 928
Registered: ‎01-08-2010
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Re: reopening old accounts

It was closed in good standing, and shows as a positive account on our credit report.  The question is when we will be able to get credit with them again.
I live my life like I type, fast and with a lot of mistakes.
Spacebar broken. Watch for finger.

02/04/2015 || TU 08: 728 EX 08: 709 EQ 08: 748

Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: reopening old accounts

[ Edited ]
What's keeping your scores down? In other words, what's on your reports that would alarm American Express?

One thing to keep in mind, that deal with "member since" dates will still be there when your scores improve. When the time comes, I'd recommend starting with a Green card. That's the lowest risk card for them, and if you're willing to pay the $95 annual fee, or whatever it is these days, you'll pick up that history. You can then close it 11 1/2 months later, before paying the fee again, and get a Blue, etc., assuming that your scores have continued to rise.

But I would definitely hold off until your scores are in the 670 range. It's very useful that you haven't burned AmEx, because with very few exceptions, they never, ever forget.


eta: sorry, I hope that didn't sound snarky. I can see that you've already made good progress with your scores. I'm multitasking, and not very effectively, I think! :smileytongue:
Message Edited by haulingthescoreup on 01-20-2010 05:31 PM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator
Posts: 16,010
Registered: ‎07-14-2009
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Re: reopening old accounts


haulingthescoreup wrote:
What's keeping your scores down? In other words, what's on your reports that would alarm American Express?

One thing to keep in mind, that deal with "member since" dates will still be there when your scores improve. When the time comes, I'd recommend starting with a Green card. That's the lowest risk card for them, and if you're willing to pay the $95 annual fee, or whatever it is these days, you'll pick up that history. You can then close it 11 1/2 months later, before paying the fee again, and get a Blue, etc., assuming that your scores have continued to rise.

But I would definitely hold off until your scores are in the 670 range. It's very useful that you haven't burned AmEx, because with very few exceptions, they never, ever forget.


eta: sorry, I hope that didn't sound snarky. I can see that you've already made good progress with your scores. I'm multitasking, and not very effectively, I think! :smileytongue:
Message Edited by haulingthescoreup on 01-20-2010 05:31 PM

Yes hauling you are constantly snarky and snippy with people. :smileywink:

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Posts: 28,098
Registered: ‎04-01-2007
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Re: reopening old accounts

lol

Many if not most of our members have hides like leather, but some people come here feeling pretty flayed, and their poor nerve endings are waving around in the breeze. Been there, done that, got the t-shirt, although not in credit land. Anyway, I try not to hurt feelings accidentally.

Deliberately, that's another story! :smileyvery-happy:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Blogger
Posts: 928
Registered: ‎01-08-2010
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Re: reopening old accounts

snark away!  I can take it.  :smileywink:

 

the stuff on our credit that is holding us back are several open and charged off collections.  they are old, but there.  i am working on trying to get them off completely.  We also have no revolving credit because we have not been able to get any for the past 10 years.  i just recently opened a new millennium visa and mastercard, and we are getting the app in the mail for the secured usaa card.  that will give us the revolving credit we need to boost the score, and all of our baddie trade lines have PFD and DV letters into them.  Eventually, hopefully, we will have most deleted and the rest just paid and closed (i know it doesn't help the credit, but if I can't get it deleted I at least want it resolved.)

 

We were originally members since 1995.  We had our cards with Amex till 1998.  I can't remember if we were ever late, but we closed it out in good standing.  I called to check and they said that because of the time period we would need to apply, and then once we got the cards we would then need to contact member services and request the account be re-aged.  Its nice to know they are willing.  And yeah, my plan is to start with the green card, then get a few other Amex products when possible.  I'd love to have the USAA amex.  That would be nice.  Ah, to dream...  lol

I live my life like I type, fast and with a lot of mistakes.
Spacebar broken. Watch for finger.

02/04/2015 || TU 08: 728 EX 08: 709 EQ 08: 748

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