Should I (Could I) re-open?

[turninganewleaf]

Several years ago, I had a MBNA LL Bean CC that transferred to a BofA card.  I closed the account in 1998.  Currently there is a bal of $1600 from a $5500 original CL. However, with a combination of late payments, the highest card balance shows about  $9K on my CR's. 

I've been making regular payments and the status shows current on my CR's but old late payments haven't quite dropped off yet.

Should I call BofA to see if this account can be "re-opened"?  Would the age of the account benefit me or hurt me if I could re-open?  Do you think they would do a hard pull?

I'll just leave well enough alone if you all suggest that I don't try to re-open.  Thanks!

[Anonymous]

i was wondering about trying to open mine back up. I know with HSBC they told me they'd have to do a hard pull. but i was looking for aged accounts to help my score

[turninganewleaf]

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turninganewleaf wrote:

Several years ago, I had a MBNA LL Bean CC that transferred to a BofA card.  I closed the account in 1998.  Currently there is a bal of $1600 from a $5500 original CL. However, with a combination of late payments, the highest card balance shows about  $9K on my CR's. 

I've been making regular payments and the status shows current on my CR's but old late payments haven't quite dropped off yet.

Should I call BofA to see if this account can be "re-opened"?  Would the age of the account benefit me or hurt me if I could re-open?  Do you think they would do a hard pull?

I'll just leave well enough alone if you all suggest that I don't try to re-open.  Thanks!

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Well, I called BofA, since I am on a "payment plan", I can not re-open this account until the balance is PIF.  Even after PIF, I would have to re-apply (hard pull) to re-open this account and take the chance of qualification.  No thank you!

[Anonymous]

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turninganewleaf wrote:

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turninganewleaf wrote:

Several years ago, I had a MBNA LL Bean CC that transferred to a BofA card.  I closed the account in 1998.  Currently there is a bal of $1600 from a $5500 original CL. However, with a combination of late payments, the highest card balance shows about  $9K on my CR's. 

I've been making regular payments and the status shows current on my CR's but old late payments haven't quite dropped off yet.

Should I call BofA to see if this account can be "re-opened"?  Would the age of the account benefit me or hurt me if I could re-open?  Do you think they would do a hard pull?

I'll just leave well enough alone if you all suggest that I don't try to re-open.  Thanks!

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Well, I called BofA, since I am on a "payment plan", I can not re-open this account until the balance is PIF.  Even after PIF, I would have to re-apply (hard pull) to re-open this account and take the chance of qualification.  No thank you!

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If you get an aged account that you said was opened "several years" before you closed it in 1998 for 1 hard pull, i would say that it was worth it.  Not only would you get the aged account under your belt but you would also have get the $5500 CL with it and possibility to ask for a CLI when everything is said and done. 

So over time, you get better utilization when the account is PIF, then you get even more untilization from the $5500 when it is re-activated!   So again, all of that for 1 hard pull = worth it, IMO.

Message Edited by Robo on 09-26-2007 11:05 PM

[Anonymous]

Also, once you reopen it- after a while you could ask for a CLI- maybe six mos to a year, but you would have to do some reg. spending at 1 to 9 util

[turninganewleaf]

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Robo wrote:

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turninganewleaf wrote:

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turninganewleaf wrote:

Several years ago, I had a MBNA LL Bean CC that transferred to a BofA card.  I closed the account in 1998.  Currently there is a bal of $1600 from a $5500 original CL. However, with a combination of late payments, the highest card balance shows about  $9K on my CR's. 

I've been making regular payments and the status shows current on my CR's but old late payments haven't quite dropped off yet.

Should I call BofA to see if this account can be "re-opened"?  Would the age of the account benefit me or hurt me if I could re-open?  Do you think they would do a hard pull?

I'll just leave well enough alone if you all suggest that I don't try to re-open.  Thanks!

---

Well, I called BofA, since I am on a "payment plan", I can not re-open this account until the balance is PIF.  Even after PIF, I would have to re-apply (hard pull) to re-open this account and take the chance of qualification.  No thank you!

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If you get an aged account that you said was opened "several years" before you closed it in 1998 for 1 hard pull, i would say that it was worth it.  Not only would you get the aged account under your belt but you would also have get the $5500 CL with it and possibility to ask for a CLI when everything is said and done. 

So over time, you get better utilization when the account is PIF, then you get even more untilization from the $5500 when it is re-activated!   So again, all of that for 1 hard pull = worth it, IMO.

Message Edited by Robo on 09-26-2007 11:05 PM

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So, I should try to re-open this account even though Cust Serv said I would have to re-apply and see if I meet the same qualifications I did the first time I got the card?  I believe I opened this account maybe in 94 or 95?  That was before my credit habits started going haywire (hence me closing the account). If I don't meet the same qual's as before, I take another hit with denial.

If I already have a low util on my current CC's, should I just stick with what I've got?  I really only see the BofA account helping me as it pertains to history only.