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Re-Opening Cards

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JustMe77
Frequent Contributor

Re-Opening Cards

Does anyone have experience re-opening an old credit card account?

 

My very first credit card was a Bank of America Alaska Airlines card. It was opened in 8/2002 and , when it was closed in 2008, it had a $6,000 limit on it. They closed it because I had late payments on the account. I paid the balance off  ($4,500-ish) by 8/2009 without any collections/chargeoff stuff.

 

I called Bank of America today just trying to get copies of statements. The CSR made a comment that the credit card acccount wasn't closed, but that it was "in the process of being closed". It shows as closed on my credit report, though.

 

So I went online and asked the online people at Bank of America what the status of the account was. The rep said it was 'blocked' but that I could request to re-open the account (with a credit check, obviously). I said sure. They gave me the 5-7 day response message.

 

Not sure if that's standard for requests to re-open, or if I should just consider that a 'no'. I'm considered a member of Bank of America's US Trust (wealth management division), so maybe that will help?

 

Feeling dumb for the HP (and the timing of it...a large statement balance just posted, so my FICO is not what it was even a week ago), but it sure would be nice to have my oldest account open again...but more importantly, I want my old credit limit Smiley Happy

 

Thoughts? Experiences?

Current Cards: Banana Republic Visa ($5,300), Chase Freedom ($2,000), Discover It ($11,500), Amex Costco True Earnings ($5,000), Chase Slate ($2,500)
Message 1 of 5
4 REPLIES 4
pizzadude
Credit Mentor

Re: Re-Opening Cards

 

If you can get a creditor to agree to re~open an old account then it is always good IMO.   You will gain an open account with the "new account" ding to your AAoA.

 

However it is very rare for creditors to re~open accounts, in general it is riskier, and they would rather just send you through the application process again from scratch.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 5
CS800
Super Contributor

Re: Re-Opening Cards

I have tried twice to get BOA to open two accounts, no joy. I will have to reapply.




Message 3 of 5
Anonymous
Not applicable

Re: Re-Opening Cards

An exception is PNC, who will do all the checks and everything else that is part of an application but will reopen the old card with its original opening date, avoiding the effect on your AAoA and the new credit penalty on your report.

 

YMMV of course...

Message 4 of 5
JustMe77
Frequent Contributor

Re: Re-Opening Cards

Thanks everyone! I am not going to get my hopes up, but I'm going to try calling them tomorrow...the 5-7 day message is throwing me off.

Current Cards: Banana Republic Visa ($5,300), Chase Freedom ($2,000), Discover It ($11,500), Amex Costco True Earnings ($5,000), Chase Slate ($2,500)
Message 5 of 5
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