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I want to throw a question out to you people "in the know". I just joined today and found that I have a good score of 801. I also just found out that it's not advisable to close credit cards once established. I just closed a Chase Mastercard that I had for about a year after transferring the balance to another card and I also closed a Citibank card (after 5 years), when they wouldn't agree to re-lower my interest rate again (and I paid off the balance). NOW I realized I should not have done that. Both of these cards have been closed in the last 45 days and I had an excellent payment history with them. Is it advisable to ask them to REOPEN my account since they were just recently closed and is it possible that they would have to do another credit inquiry which would end up lowering my credit score? Should I just leave things as they are?
Thanks!
welcome!!
well the thing is that sometimes some credits will require you fill out a new application if it's been more than 30 days which in turn will cost you a hard inquiry. it varies by the creditor, you may want to call and ask and if they so they will hard you then at that time decide what you want to do..hope this helps
I think most cards will re-open if it's within 30-60 days.
It depends.
If those are not your oldest accounts and closing them did not affect your AAoA, let it be. If your AAoA is affected by closing them, try to reopen it, preferably without hard pull.
with an 800, I wouldn't worry to much!!
and if they are going to reopen, it should just be a click and it's open, no pulls... otherwise they just tell you, you have to apply for a new account once old ones are closed.