Reopen a closed card?

[KateNeedsCredit]

My credit hit a real nose dive in about 2009 with my lowest score ever being a 400. I had opened a Lowes card right before I got myself into this credit mess. I let my sister borrow it so she could buy a new stove.. And she did right by it, she paid it on time every month, kept paying it down. And it was the ONLY good thing reporting on my credit report for awhile. Until she paid off the balance and Lowes closed the card the next day- all because of my credit score. I was pretty annoyed.

I can't totally blame them, my credit was tanking, still annoying, I needed that positive! It's on my credit report as a satisfactory but closed account.

I'm in the process of rebuilding my credit, around a 550 today. I'm trying my best to pay off all the accounts (5) I let go with 2 being judgements at this stage. I have a first premier credit card for 2 months- and doing right by it. And it's my only current thing the rest are charged off from a few years ago.

So my question is should I re-apply for the lowes card? - even a couple months down the line when my credit should be better? I had perfect on time payments with them.. (Thanks to my sister but still lol) even if I screwed up my other accounts

[pizzadude]

Have you applied for any CCs recently?  You might consider opening a secured card to start if you are getting denied. 

You could re~apply for a lowes card but I suspect they'll deny given your current reports.   Also, with very exceptions, creditors won't re~open previously closed accounts.  

[KateNeedsCredit]

I have a first premier card I opened 3 months ago $300 limit. I'm not applying anytime soon, just curious because what's grinding my gears is that they closed a good standing account on me. Not one late.

[KateNeedsCredit]

I doubt they would open that same account again. I guess I'm asking what the likelihood that they would approve me for a new card in the future with a decent score.

[pizzadude]

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@KateNeedsCredit wrote:
I have a first premier card I opened 3 months ago $300 limit. I'm not applying anytime soon, just curious because what's grinding my gears is that they closed a good standing account on me. Not one late.

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Ok, well you might consider ditching FP down the road for a secured card, since their fees are ridiculous.   

[pizzadude]

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@KateNeedsCredit wrote:
I doubt they would open that same account again. I guess I'm asking what the likelihood that they would approve me for a new card in the future with a decent score.

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Yeah, assuming that you can get your score back up I'd say you stand to have decent odds of approval.

[randyrhodes]

You could also consider the shopping cart trick...thus avoiding the hard pulls on your credit. Maybe a Victoria's secret card or jcrew or the like. Research on here if not familiar with the process. Shopping Cart Trick type in search column. Good luck to ya