topic Re: Is it possible to reopen a closed CC account? in Credit Cards

Is it possible to reopen a closed CC account?

natasjlp — Tue, 31 Mar 2009 21:33:45 GMT

Hello,

I have a CC 'closed by consumer' account. It is my oldest credit account and I closed it years ago not realizing the damage it could do to my score. Is there any way to reopen a closed account??

Thanks

Re: Is it possible to reopen a closed CC account?

Anonymous — Tue, 31 Mar 2009 21:45:57 GMT

What card was it?

Re: Is it possible to reopen a closed CC account?

Anonymous — Tue, 31 Mar 2009 21:47:05 GMT

Usually not. But, you can never hurt yourself by calling and inquiring directly with the creditor.

Macy's has a reinstatement program for charge offs. But you don't get to keep the original tradeline, they give you a new account after you pay off the old one.

If your old account was in good standing and closed by you, you can ask, but I don't know that I have ever seen it done successfully.

Please let us know if you have any luck and who the credit account was with.

Re: Is it possible to reopen a closed CC account?

CreditAble — Tue, 31 Mar 2009 21:47:09 GMT

@natasjlp wrote:
Is there any way to reopen a closed account??

Sometimes it is possible depending on the account provider.

Amex will open a new account with the original "member since" date.

Who issued the credit card that you closed?

Re: Is it possible to reopen a closed CC account?

msheresy — Wed, 01 Apr 2009 03:26:35 GMT

@Anonymous wrote:
Usually not. But, you can never hurt yourself by calling and inquiring directly with the creditor.

Macy's has a reinstatement program for charge offs. But you don't get to keep the original tradeline, they give you a new account after you pay off the old one.

If your old account was in good standing and closed by you, you can ask, but I don't know that I have ever seen it done successfully.

Please let us know if you have any luck and who the credit account was with.

My mother had a Macy's card. Probably used it twice and then it the account was closed by them due to inactivity. Since she had opened the account 10+ years ago, I encouraged her to call and see if they would re-open the account. They granted her request, sent her a new card and it shows that 10+ years of history

Re: Is it possible to reopen a closed CC account?

Anonymous — Mon, 08 Feb 2010 20:48:34 GMT

@msheresy wrote:
@Anonymous wrote:
Usually not. But, you can never hurt yourself by calling and inquiring directly with the creditor.

Macy's has a reinstatement program for charge offs. But you don't get to keep the original tradeline, they give you a new account after you pay off the old one.

If your old account was in good standing and closed by you, you can ask, but I don't know that I have ever seen it done successfully.

Please let us know if you have any luck and who the credit account was with.
My mother had a Macy's card. Probably used it twice and then it the account was closed by them due to inactivity. Since she had opened the account 10+ years ago, I encouraged her to call and see if they would re-open the account. They granted her request, sent her a new card and it shows that 10+ years of history

I reopened my Macy's store card today that's been closed for almost 3 years. Pretty happy that they let me do it.

Re: Is it possible to reopen a closed CC account?

asanch12 — Tue, 09 Feb 2010 06:47:16 GMT

yeah, i closed my macy's in '03 and reopened it late '09 with no problem. They also kept original open date from '03. good luck

Re: Is it possible to reopen a closed CC account?

Anonymous — Tue, 09 Feb 2010 09:06:23 GMT

Yeah it is not likely maybe in the past, but I really doubt it happening now with how everything is going, you have a good 1% chance of getting it re-opened.

Trying doesn't hurt though, but for future referance closing ANY account, even a $100 card can damage your score, or stop you from getting a good credit card, rate, or alike.

Re: Is it possible to reopen a closed CC account?

score_building — Tue, 09 Feb 2010 13:41:41 GMT

@Anonymous wrote:
Yeah it is not likely maybe in the past, but I really doubt it happening now with how everything is going, you have a good 1% chance of getting it re-opened.

Trying doesn't hurt though, but for future referance closing ANY account, even a $100 card can damage your score, or stop you from getting a good credit card, rate, or alike.

this is not necessarily accurate.

to learn more about closing cards the right way, check out the pinned fused thread.

Re: Is it possible to reopen a closed CC account?

Anonymous — Tue, 09 Feb 2010 20:02:58 GMT

Well truthfully there is no real answer if that low limit card could hurt you, or not, until it it's actually done, I closed a SMALL card the right way and it hurt my score by almost 40 points, there is no for sure answer.

Re: Is it possible to reopen a closed CC account?

fused — Tue, 09 Feb 2010 20:27:15 GMT

ryan1918 wrote:
Well truthfully there is no real answer if that low limit card could hurt you, or not, until it it's actually done, I closed a SMALL card the right way and it hurt my score by almost 40 points, there is no for sure answer.

Are you absolutely sure that closing your card didn't change other factors? Did the card account you closed have a $0 balance? How about a change in your revolving utilization? Also, after you closed this card account, did you still have other open CC accounts in good standing?