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Citi closed due to inactivity

EaglesFan2006
Established Contributor

Citi closed due to inactivity

I had a Citi card closed.  When calling they said it was due to 2 years inactivity.   It looks like in order to reopen the card they need to pull a credit report, which I'm not crazy about

 

 

while I hate to lose the old trade line and am not crazy about the hit on utilization, I don't want another inquiry.   Do you think I'm better off letting this go?   Is there any other negative impact, IE other creditors seeing the flag and closing cards?

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FinStar
Moderator

Re: Citi closed due to inactivity

It depends on what you value the most given the closure.  While the closure won't have an impact on AAoA (at least for up to ~10 years, but YEMV), if this is one of your oldest tradelines, I'd sacrifice the HP to reinstate the account, IMO.  

As far as other lenders viewing the recent closure as a negative, no.  It'll be like hitting a battleship with a pebble.

 

What was the limit on the card and how old is the account?

Message 2 of 6
EaglesFan2006
Established Contributor

Re: Citi closed due to inactivity


@FinStar wrote:

It depends on what you value the most given the closure.  While the closure won't have an impact on AAoA (at least for up to ~10 years, but YEMV), if this is one of your oldest tradelines, I'd sacrifice the HP to reinstate the account, IMO.  

As far as other lenders viewing the recent closure as a negative, no.  It'll be like hitting a battleship with a pebble.

 

What was the limit on the card and how old is the account?



Thanks.   Limit is 3k, not my biggest limit.  Account is from 2012.  I have a few CCs older than it and nearly all of my credit cards save 1 are from 2015 or earlier.   So I'm thinking losing this one might not be THAT big a factor.    But I don't know.   I'd be nervous getting another inquiry and not getting approved.   I did a citi soft pull for a CLI last year on another card and it didn't get approved.  

Message 3 of 6
FinStar
Moderator

Re: Citi closed due to inactivity


@EaglesFan2006 wrote:

@FinStar wrote:

It depends on what you value the most given the closure.  While the closure won't have an impact on AAoA (at least for up to ~10 years, but YEMV), if this is one of your oldest tradelines, I'd sacrifice the HP to reinstate the account, IMO.  

As far as other lenders viewing the recent closure as a negative, no.  It'll be like hitting a battleship with a pebble.

 

What was the limit on the card and how old is the account?



Thanks.   Limit is 3k, not my biggest limit.  Account is from 2012.  I have a few CCs older than it and nearly all of my credit cards save 1 are from 2015 or earlier.   So I'm thinking losing this one might not be THAT big a factor.    But I don't know.   I'd be nervous getting another inquiry and not getting approved.   I did a citi soft pull for a CLI last year on another card and it didn't get approved.  


It's definitely up to you.  If you're going to be in the market for a mortgage in the near horizon, then I'd hold off.  Otherwise, if you already have other accounts that are much older than this one, then perhaps it's not a bad idea to leave it as is and save yourself the HP.

Message 4 of 6
EaglesFan2006
Established Contributor

Re: Citi closed due to inactivity


@FinStar wrote:

@EaglesFan2006 wrote:

@FinStar wrote:

It depends on what you value the most given the closure.  While the closure won't have an impact on AAoA (at least for up to ~10 years, but YEMV), if this is one of your oldest tradelines, I'd sacrifice the HP to reinstate the account, IMO.  

As far as other lenders viewing the recent closure as a negative, no.  It'll be like hitting a battleship with a pebble.

 

What was the limit on the card and how old is the account?



Thanks.   Limit is 3k, not my biggest limit.  Account is from 2012.  I have a few CCs older than it and nearly all of my credit cards save 1 are from 2015 or earlier.   So I'm thinking losing this one might not be THAT big a factor.    But I don't know.   I'd be nervous getting another inquiry and not getting approved.   I did a citi soft pull for a CLI last year on another card and it didn't get approved.  


It's definitely up to you.  If you're going to be in the market for a mortgage in the near horizon, then I'd hold off.  Otherwise, if you already have other accounts that are much older than this one, then perhaps it's not a bad idea to leave it as is and save yourself the HP.


Thanks.   Nah I'm trying to pay down debt and knock on wood won't need any new loans for quite some time.  

I will be careful to charge things here and there on the paid off cards I do have so this doesn't happen again 

Message 5 of 6
tcbofade
Community Leader
Super Contributor

Re: Citi closed due to inactivity

If you don't need it, let it go.

 

I'm JUST getting to the point that I foresee this happening soon.  I've got several long unused accounts that could be closed at any moment, and other than utilization ratios, I wouldn't care.

 

Hopefully, I won't care about those either in the future!

09/01/21 Fico 8: EX 736, EQ 750, TU 746.
09/04/21 Fico 9: EX 741, EQ 757, TU No idea.

Zero percent financing is where the devil lives...
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