Re-opening old credit cards

[Anonymous]

Out of curiosity, I contacted comneity bank and had my old victorias secret and express card re-opened (same account number, no need to apply again). The account had been closed in 2011 after some delinquent payments (mostly because I was out of the country and just forgot--no excuse I know). 

I was wondering what happens to the interim when the tradelines start reporting? Like the last activity is at 2011 and then activity shows up again in 2014. In the interim period how does the bank report? Would this gap between the reporting also help my score at all?

Thank you

[myjourney]

While it may be good for AAoA 

I pray they don't report the lates and in that case you would now have a problem 

Good luck 

[Anonymous]

Wouldn't the lates already be contributing to my low score since its only 3 years old? 

[myjourney]

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@Anonymous wrote:

Wouldn't the lates already be contributing to my low score since its only 3 years old? 

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If the account is on your CR's yes it would 

But I have an honest question here and just out of curiosity......Why would you want those accounts re-opened? Do you shop there that much or what was your reasoning? 

Ok sorry maybe 2 questions Lol

[Anonymous]

My reasoning was simply to increase the average age of account opened. i am fairly new and bad at the whole credit game and was stupid with these cards when I originally had them. Since they closed in about 2 years, I thought it would significant help my average age to re-open them thus improving my score.

When I got back, I actually settled the accounts in full and afterwards had them re-opened. Since they were already reporting negatively with the past dues (and then $0 after settlement) I thought I might as well try and have them re-opened and they might report positively in terms of age. 

I was just wondering though since I had settled the payments on the account and there is no activity for 3 years.. how do those 3 years report? And wouldn't atleast 3 years of account age and technically no balance benefit my score?

I hope that answers your questions.

Thank you guys for your help

[myjourney]

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@Anonymous wrote:

My reasoning was simply to increase the average age of account opened. i am fairly new and bad at the whole credit game and was stupid with these cards when I originally had them. Since they closed in about 2 years, I thought it would significant help my average age to re-open them thus improving my score.

When I got back, I actually settled the accounts in full and afterwards had them re-opened. Since they were already reporting negatively with the past dues (and then $0 after settlement) I thought I might as well try and have them re-opened and they might report positively in terms of age. 

I was just wondering though since I had settled the payments on the account and there is no activity for 3 years.. how do those 3 years report? And wouldn't atleast 3 years of account age and technically no balance benefit my score?

I hope that answers your questions.

Thank you guys for your help

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We dont see many lender offer to re-open old closed accounts so its really hard to say what they'll report it's a interesting concept tho 

For your sake I hope they report as you wish 

But as far as the lates let's just say they report back to 2011

Start the GW process and if the baddies are removed you'll have just what you want an increase in AAoA on the positive account 

Good luck and let us know how this turns out 

Could be interesting indeed 

Edit the downside is if they report as new TL you decrease AAoA...sorry being honest 

[Anonymous]

If the accounts were still on your report (as they probably are) they are counting towards your AAoA anyway (as closed accounts usually stay on for about 10 years post closure)  So not sure that this helps, at least in the short term.

[Anonymous]

I totally understand. I'm here for honesty.

I was under the assumption of you don't apply for new credit and they don't pull your credit report and give you the same account number then it's the same account?

In order to report as a new tradeline wouldn't I have to go through the credit applying process?
I just shot them an email explaining the late payments and settlement and they automatically just increased my credit line from 0 to 300. I assumed that would be the same account?

Sorry if these questions are dumb. I am not very knowledgeable about this whole thing and kind of end up getting confused the more I try to read into it.

[Anonymous]

I'm sorry but that's what I am confused about as well. If my credit history is four years old and my average age of accounts is two years wouldn't reopening my old accounts bump the average age to 4?
Once again I apologize if these questions are very basic

[myjourney]

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@Anonymous wrote:
I'm sorry but that's what I am confused about as well. If my credit history is four years old and my average age of accounts is two years wouldn't reopening my old accounts bump the average age to 4?
Once again I apologize if these questions are very basic

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What LTL is saying and he's correct AAoA is closed and open accounts 

So if its 2 years now it will remain 2 years