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zigster8
Posts: 2
Registered: ‎11-14-2012
Should I re-open this card? Pls help (newbie)

Newbie here and first post -

Basically Bank of America cancelled my card (unbeknownst to me and it still shows up in my online BofA account - separate issue).  Last february, I missed a payment because I rarely used the card and had signed up for online payment and forgot.  Then they hit me with an interest charge on a late fee (even though I paid off the 200 dollar bill as soon as I realize what happend).  Fast forward to know when I check my credit score which has crashed - I called Bank of America who said they could re-open the account if I wanted to - assume my income checks out, etc.  Meanwhile i've had a bank of america mortgage for several years that I've never been late on.  

 

I'm trying to understand whether re-opening the card is something I should do or not.  I'd had the card since 1998 and it had a 14,700 credit limit on it.  I have other high limit cards (amex and discover) and haven't been late on those and I pay them off but as I've learned the payment date and the reporting date don't seem to line up properly.  

 

Should I GW BofA (has anyone had luck with gw and BofA?) / apply to re-open the card?  They said it would be retroactive (date wise) but I'm concerned they lower the limit (not that I care spending wise, just worried about how that looks on the report)  How long will it take to stop impacting my score?   I'm really freaked out about this- my score a few years ago was great but this mess from last february has really, really stressed me out.  

 

Thanks for any and all advice.