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Established Contributor
Posts: 536
Registered: ‎02-27-2012
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Can/will an OC reinstate a CC after it has been CO?

With the difficulty in getting credit cards to help improve ratios and my credit score, could I PIF a CO from the OC and have the account reinstated?

AMEX PRG - NPSL I AMEX Everyday Preferred - $22.8k I Chase Ritz-Carlton - $21k I Capital One Venture - $20k I Chase Sapphire Preferred - $15k I Capital One Quicksilver - $10k I NFCU Flagship Rewards Visa Signature - $15k I NASA FCU - $10k I Texell FCU Visa - $5k I Chase Freedom - $4.8k I Citi Double Cash - $4.8k I NFCU CLOC - $15k I Total Unsecured Credit - $142,200

EQ FICO - 680 (7/12/15) I TU FICO - 771 (7/12/15) I EX FICO - 751 (7/12/15)
Epic Contributor
Posts: 21,574
Registered: ‎03-19-2007
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Re: Can/will an OC reinstate a CC after it has been CO?

You can certainly try.

I would presume that a creditor who has officially stated that your bad debt has reached the stage of being considered "uncollectible" would not be one who is most likely to be scrambling for your future business.

Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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Re: Can/will an OC reinstate a CC after it has been CO?


js0319 wrote:
With the difficulty in getting credit cards to help improve ratios and my credit score, could I PIF a CO from the OC and have the account reinstated?


It's always worth a shot, but your odds of success are verrrryy low.   Rarely if ever will a creditor re~open a closed CC account, much less one that had deliquencies.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Frequent Contributor
Posts: 342
Registered: ‎02-10-2012
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Re: Can/will an OC reinstate a CC after it has been CO?

With that said, what surprises me is the fact that 3 of my CO's from my fically challenged years are from Cap 1. And, they just let me get a secured card. Makes ya wonder...


Starting Score: EQ = 550; TU = 491(2/10/12)
Current Score: EQ = 669; TU = 674(6/20/14)
Goal Score: 700+


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Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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Re: Can/will an OC reinstate a CC after it has been CO?


Lois5669 wrote:

With that said, what surprises me is the fact that 3 of my CO's from my fically challenged years are from Cap 1. And, they just let me get a secured card. Makes ya wonder...



Yeah, it is one thing to let you back in with a new account versus reinstating an old account.   Cap1 really doesn't hold grudges like many creditors, they will let you back in even if you burned them before.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Established Contributor
Posts: 536
Registered: ‎02-27-2012
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Re: Can/will an OC reinstate a CC after it has been CO?

Ive noticed that with Cap 1. My wife received a summons for a judgement hearing in July 2011 for her old Cap 1 card, and in August she was financed by Cap 1 - one month after a potential lawsuit.

AMEX PRG - NPSL I AMEX Everyday Preferred - $22.8k I Chase Ritz-Carlton - $21k I Capital One Venture - $20k I Chase Sapphire Preferred - $15k I Capital One Quicksilver - $10k I NFCU Flagship Rewards Visa Signature - $15k I NASA FCU - $10k I Texell FCU Visa - $5k I Chase Freedom - $4.8k I Citi Double Cash - $4.8k I NFCU CLOC - $15k I Total Unsecured Credit - $142,200

EQ FICO - 680 (7/12/15) I TU FICO - 771 (7/12/15) I EX FICO - 751 (7/12/15)
Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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Re: Can/will an OC reinstate a CC after it has been CO?


js0319 wrote:
Ive noticed that with Cap 1. My wife received a summons for a judgement hearing in July 2011 for her old Cap 1 card, and in August she was financed by Cap 1 - one month after a potential lawsuit.


Wow !  That is amazing.   I guess that once they realized that she'd pay they forgave & forgot.   Cat Wink

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Contributor
Posts: 90
Registered: ‎01-15-2012
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Re: Can/will an OC reinstate a CC after it has been CO?

I paid up and zeroed out with AmEx and while I didn't get my platinum card back right away, they started me out with an Optima with a $500 limit. Humble rebeginnings.


Starting Score (EQ 1/17/12): EQ: 573, EX: 590, TU: 561
myfico.com (5/19/12): EQ: 787, TU: 797
AmEx Experian pull (5/29/12): 774
CapOne Equifax pull (5/29/12): 776

Goal Score: 750 (accomplished 3/23/11) New goal: 800 (we can all dream, right?!?)

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Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
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Re: Can/will an OC reinstate a CC after it has been CO?


Wcv wrote:

I paid up and zeroed out with AmEx and while I didn't get my platinum card back right away, they started me out with an Optima with a $500 limit. Humble rebeginnings.


Can you talk to this a bit more?

 

I would LOVE to have my amex card back.  They closed me back in 2006, when they started to CLD everyone. I never had a late with them. The reason my account went to their internal collections was due to a $5 interest  charge that ballooned  and I flat-out refused to pay it, but ultimately did.

 

Never late with them and my report reflects all green codes for each month reported.

 

What was your situation with them and how did you get them to open back-up a card with them?

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
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