Re: Closing Aged Accounts.. Yes It Is Ok
01-12-2011 11:06 AM
So, taking what's been said in this thread, it appears that it pays to reopen at least some accounts that are nearing the 10-years-since-closing mark, since typically they will add to the average length of credit history. Or are reopened accounts handled differently by FICO scoring?
Reopened accounts are treated as if they never closed. Now good luck reopening a 10 year old since-closed account. It would have to be the exact same account with the same account number that you had before. Creditors will usually tell you you'd have to reapply and that action would mean opening a new account, and not reopening the old.
I have never, ever heard of a lender willing to do this.
The closest you can get is the backdating trick with AmEx, with a new card picking up the opening year of the oldest.
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007