Opening closed accounts?

[Anonymous]

Months ago I helped my g/f with her credit issues because a few years ago she had to go bankrupt (due to her ex) and we wanted to get it fixed so we could get a house.

While I was helping to fix her credit by disputing information online from all 3 agency's I realized that I've perhaps made a mistake but am afraid it's too late and maybe I need to move on and let time fix the credit more.

We've since got a mortgage and are loving the house but am still battling to fix our credit reports. Battling may be a harsh word to use. There's nothing wrong with the reports now. Everything disputed has been fixed/changed but I am always looking to get the scores higher. I'm almost obsessed with it. Mind you my score is 732 (looking to get atleast 760 as that is the lowest interest rate) and hers is 648. Her report looks good from all agency's except the bankruptcy and I am working on trying to get her CC balance down (she only has one CC with a balance). However during the process of trying to fix her credit before we got a mortgage, I noticed that I may have disputed to close accounts that were not actually included in the bankruptcy.

When i did the dispute I initiated to have the accounts closed because they were not being used. Now these old accounts are saying "closed by consumer" even though there is a zero balance and always has been. Why I closed these accounts I don't know as I now realize that closing it was a bad thing due to these accounts being open in or around 1994 (maybe 2 or 3 accounts max) and not having a balance and not even disputed in the bankruptcy.

Is there any way to reopen these accounts (I'm thinking it's a no) so that the age of her credit is older and she has more 'utilization'?

These old accounts also were probably considered inactive as she never ever used them for probably at least 8 or more years (and she never would have used them since she cut up the cards a long time ago). Now I'm not sure if inactive is about the same as closed or not but I'd like to know. At least it would make me feel better if that is a yes. I'm thinking maybe we now have to just move on from this mistake and let time heal everything.

I would appreciate any input you all can provide on this.  By the way, I love and have learned a lot with this forum.

Message Edited by Glitche on 09-11-2007 10:10 AM

Message Edited by Glitche on 09-11-2007 10:10 AM

[Anonymous]

Anyone?

[Anonymous]

Well your somewhat in luck. The closed accounts in good standing are still somewhat helping the score even in closed status. They will remain on the CR 10 years from closing if there was an update by the lender or 10 years from last activity or date that you specified they were closed on. It is hard to say if they can reopen them. Best to just call the lender and ask. I found I could not re-open accounts after 90 days. But it depends on the lender.

[Anonymous]

So when you do a dispute online the agency (TU, EQ or EX) contacts the CC company or whatever and tells them that I am closing the account?

Also how long does it take for an account to go 'inactive'? I'm sure this can be different depending on the company but I don't even know how to find out if a card is indeed inactive or not.

If something goes inactive can your score lower and then possibly jump back up when you use the card again?

Let's say I got a CC from Best Buy in 2000 and had a zero balance and have been in good standing with them. Then I asked to close the account in 2005 for whatever reason.

If I go back to Best Buy and get another Card will they just open a new account entirely or will the old one mysteriously open back up?

One other question. So even if a closed account is in good standing it falls off of your credit report?  Is that why it's recommended to keep open so it never falls off? Is a closed account the same as if it were open (as far as Credit Score) until it falls off?

Message Edited by Glitche on 09-12-2007 12:20 PM