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My Kohls Card was Closed Automatically

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BluJay
New Contributor

My Kohls Card was Closed Automatically

I'm in bankruptcy recovery. It's been 1 year 230 days since my last bankruptcy. My Kohls account was saved by my lawyer and was reporting for 4 years until Kohl closed it due to inactivity. I never shop at kohls and I'm relieved it's closed now from a retrospective viewpoint. I was lucky enough to obtain 3 credit cards, all unsecured, and only one has an annual fee of $19. 

 

Now I'm left with 4 months average credit history between all three cards. My oldest account is 1.5 years reporting and my youngest account is less than 1 month. Since my credit history is only 4 months old, I want to try and get rid of the $19 annual fee credit card and obtain another unsecured card. My limits on the cards are $1300,1000,500. That's $2800 in total available credit.

 

How many cards is too many? My next $19 fee isnt until july and I might keep the card for 5 total years, since it's my oldest account of 1.5 years. 

 

My goal is to obtain $10,000 worth of unsecured no annual fee accounts. Can I do so by opening up more credit accounts? Or where do I go from here? Should I just let the accounts age for a maximum fico score or open new accounts to increase my available credit to $10,000?

Tier One; 760-850. Tier Two: 700-759. Tier Three: 660-699. Tier Four: 620-659. Tier Five: 580-619. Tier Six: 500-579.
Message 1 of 8
7 REPLIES 7
newmomnewme
Valued Contributor

Re: My Kohls Card was Closed Automatically

What are your scores now? What are your goals?

012019 Fico8/Mortgage Score:
Current Fico9/Fico8/Mortgage Score:
MyGoal Fico8/Mortgage Score:
Take the myFICO Fitness Challenge


Message 2 of 8
Thechallange
Established Member

Re: My Kohls Card was Closed Automatically

Look in the bk forum lots of info there
Message 3 of 8
BluJay
New Contributor

Re: My Kohls Card was Closed Automatically

I just signed up for Psecu credit union. I should have an active account in 2 weeks or less, and as a member I receive a free TU fico score once a month. But the last time I checked my equifax fico score was 690 about a month ago before the closed Kohls account. I want to obtain a 730 credit score and obtain accounts that have cash back rewards. Two of my accounts have 1.25% and 1% cash back, and the $19 annual fee card has no rewards.

Tier One; 760-850. Tier Two: 700-759. Tier Three: 660-699. Tier Four: 620-659. Tier Five: 580-619. Tier Six: 500-579.
Message 4 of 8
newmomnewme
Valued Contributor

Re: My Kohls Card was Closed Automatically

Can you get into NFCU? They are known for generous CL..

012019 Fico8/Mortgage Score:
Current Fico9/Fico8/Mortgage Score:
MyGoal Fico8/Mortgage Score:
Take the myFICO Fitness Challenge


Message 5 of 8
BluJay
New Contributor

Re: My Kohls Card was Closed Automatically

I am not military associated. 

Tier One; 760-850. Tier Two: 700-759. Tier Three: 660-699. Tier Four: 620-659. Tier Five: 580-619. Tier Six: 500-579.
Message 6 of 8
myjourney
Super Contributor

Re: My Kohls Card was Closed Automatically

Is this card with the $19 AF a CAP1?

If so and I beleive it is contact EO ask for AF to be waived and rewards added

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 7 of 8
guiness56
Epic Contributor

Re: My Kohls Card was Closed Automatically


@BluJay wrote:

I'm in bankruptcy recovery. It's been 1 year 230 days since my last bankruptcy. My Kohls account was saved by my lawyer and was reporting for 4 years until Kohl closed it due to inactivity. I never shop at kohls and I'm relieved it's closed now from a retrospective viewpoint. I was lucky enough to obtain 3 credit cards, all unsecured, and only one has an annual fee of $19. 

 

Now I'm left with 4 months average credit history between all three cards. My oldest account is 1.5 years reporting and my youngest account is less than 1 month. Since my credit history is only 4 months old, I want to try and get rid of the $19 annual fee credit card and obtain another unsecured card. My limits on the cards are $1300,1000,500. That's $2800 in total available credit.

 

How many cards is too many? My next $19 fee isnt until july and I might keep the card for 5 total years, since it's my oldest account of 1.5 years. 

 

My goal is to obtain $10,000 worth of unsecured no annual fee accounts. Can I do so by opening up more credit accounts? Or where do I go from here? Should I just let the accounts age for a maximum fico score or open new accounts to increase my available credit to $10,000?


Closing that card does not remove it from calculating in your AAoA.  It will continue to do so for up to 10 years from date closed.

Message 8 of 8
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