What should I do with a card inactive since 2006?

[Anonymous]

I was looking over my Experian report tonight saw something that I should have caught earlier. 

There's a Cap One account listed as "Inactive/Never late," but there's no notation as to whether it is closed. (Other closed accounts say specifically, "Account closed at consumer's / creditor's request." The card was opened in 1991, and the last Date of Status is 10/2006. It's also "On record until Oct 2016." I vaguely remember having this card, so there's no issue of fraud here. There are also six years of perfect payment history.

After the singularly most arduous and tortured phone conversation I've ever had with a CSR, it was determined that the account is indeed inactive but never closed. I asked if I could reactivate and the CSR said it's against policy to reactivate a card that is deemed inactive.

So:

Is there any point to just keeping the card as is, or should I close it myself? (I worry now that they'll close it themselves.)

Should I initate the process to close it, or just let it ride until Oct 2016?

I was hoping to get it reactivated so I can keep the 1991 AAoA. The credit limit notation on the report is "Not reported" and I don't remember what it was. If there's no notation of a credit limit in the report, I assume it's not figured into my total CL?

Would it be worth a call to the EO or someone else to see if I can get it reactivated? Would this require a HP? Is there a risk of fraud, given that there's an open but inactive account out there, but no physical card in my possession?

Thanks.

[Anonymous]

My guess is it really is closed as of 2006 and the 10 years is up in 2016. I noticed a Best Buy card was showing active on one of the reports. I called them and they confirmed it was closed for many years. I'd let it go, or you can call to reconfirm it really is not an open card.

[Anonymous]

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@Vulcan1600 wrote:

My guess is it really is closed as of 2006 and the 10 years is up in 2016. I noticed a Best Buy card was showing active on one of the reports. I called them and they confirmed it was closed for many years. I'd let it go, or you can call to reconfirm it really is not an open card.

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I don't have the spirit or energy to call them twice in one night, but I am 90% sure he said the account was inactive but still open. I agree with your logic that since it notes the Oct 2016 removal, it was closed in Oct 2006. 

What's weird is that I checked my Accounts Summary tab online just now and it now lists this phantom account, in addition to the two open accounts. (This account was not listed the last time I checked.) But the system won't let me link this weird account. What I don't want to happen is for the sleeping bear that I just woke to get up and close it himself. 

Just checked my TU report and this weirdo account isn't even listed there.

[CH-7-Mission-Accomplished]

I would contact the EO and ask them to reactivate it.  You have nothing to lose.  And if they do close it, no biggie, it's still there until 2016 -- unless you need it for utilization which I kind of doubt.  

[Anonymous]

If it is open, but can't have amything charged to it, you're in the butter zone. it continues to help your AAoA and utilization, without any risk of fraud. Just leave it be.

[happypill]

I had a card like this and long story short, they reopened the account at my request.

If you're interested in the longer story, here goes.  I used to run a business and charged $20-60k per month on various cards.  I had limits ranging from $5k to NPSL on an Amex platinum and charged as much as $60k to the card in one month.  In around 2005, I applied for a Cap 1 business card and was approved...for $500 (reports on my personal CR).  I kind of chuckled and used it maybe one or two times over a couple of years.  In 2007 I closed my business and returned to business school and my spending went way down.  A lot of my other card limits were reduced as I didn't use them.  The Cap 1 card just sat there and at some point I think in 2008-2009, they just declined to issue a new card.  It was kind of weird, they didn't close the account but with no card I couldn't charge anything to it.

I graudated in 2009, the company I was planning to join went into bankruptcy (largest in history) and in the dark days of the financial crisis (I work in finance) it took several years before I landed steady work and couldn't keep up with credit accounts so my scores suffered.  Throughout this entire time, the Cap 1 account sat there and I had no idea it wasn't closed.  Finally, I landed a good job and started settling all of my accounts.  As I perused my credit report, I noticed that this account was still there, not closed.  It had been 5+ years since I charged anything to it.  It wasn't closed so I called and asked them to issue a card, and they agreed.  At the time, I had one non-reporting TL from my business ownership days, so this Cap 1 account was really the only personal card reporting.  in the last 2.5 years, Cap 1 gave me a CLI on the card to $1500, PC'd to a Spark 1.5% account and opened QS and Venture cards at higher limits.  With all other accounts charged off, the AAoA boost from this account has been an incredible stroke of luck.

So, if you want, give them a call and see if they'll reopen.

[Anonymous]

Thanks for everyone's input. 

I actually emailed the CEO and asked if he would re-activate the card. As much as I love being in the butter zone, this account will fall off next year, so I'd like to try to keep it open past that. Turns out this is/was/will be/or maybe won't be my oldest individual CC. I have an AU that is older but I'm planning to get off that at some point -- having this 1991 account would be nice.

I don't think it adds too much padding to the util rate one way or another. It's all about AAoA.

@happypill -- L. Brothers? Lucky you never boarded that ship before it went down.

[Anonymous]

When I pulled my report about a year ago (first time ever) I noticed I had an unused account still reporting. It was a cobranded cap1 card from a jewelry store when I bought my wedding rings. Last date of activity was from 2007. Dug the card out of the junk drawer and called the number on the back and to my surprise it was still active. I then created an online account and requested a cli, BAM $100 increase, lol.

About a week later got a letter in the mail telling me they would close the acct due to inactivity. Wonder if it was triggered by creating an online account. Since it was my oldest open acct I decided to buy the cheapest thing I could, it was about $6, just to keep it open. Back into the junk drawer it went.