Wise to reopen a closed CC if possible??

silly34 · ‎08-13-2007

A few years ago I got into a situation which required me to get into credit counseling. They closed one of the cards (MBNA $2,000 CL). On my credit report it says consumer closed. I was wondering (if MBNA allows it) should I reopen that card or would it have a negative impact such as age of my accounts?

Thanks! Many more questions to come!

Brad.

silly34 · ‎08-14-2007

Any thoughts?

Anonymous · ‎08-14-2007

If you can reopen, GO FOR IT!! Good for overall age of your credit.

Anonymous · ‎08-14-2007

YHep as long as they are willing to report your full history and give you favorable rates. Not sure how llikely that is since BOFA bought them out.

smallfry · ‎08-15-2007

Never happen.

Anonymous · ‎08-16-2007

@Anonymous wrote:
YHep as long as they are willing to report your full history and give you favorable rates. Not sure how llikely that is since BOFA bought them out.

BofA account reopen rule states that if its passed 90 days from when the account was closed, you would have to reapply for a new account. I know because I tried to reopen an account I closed over a year ago and they sent me the letter.

Anonymous · ‎08-16-2007

My WFNNB (Express Card) was closed in January 2006 because it went 30 and 60 days late. I called them in May 2007 to see whether or not they would remove those late marks from my reports. The guy instead offered to reinstate my account without a hard pull or anything. It didn't give me any jump in my fako scores though. But I was still happy to have an old TL back into my open accounts.

Anonymous · ‎08-16-2007

Irvin wrote:
My WFNNB (Express Card) was closed in January 2006 because it went 30 and 60 days late. I called them in May 2007 to see whether or not they would remove those late marks from my reports. The guy instead offered to reinstate my account without a hard pull or anything. It didn't give me any jump in my fako scores though. But I was still happy to have an old TL back into my open accounts.

WFNNB handles Lane Bryant too, I think...they recently reopened a card for me that had been closed since April 2004. It was actually the second time I had closed it. So now I had an active TL that is 16 years old. Yay!