Visa closed an account Whether to fight it

[FinStar]

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@Tomew2000 wrote:

It’s only 8 months old.  I’ve got cards dating back to ‘85    Probably 7 in all.   This card didn’t represent even 5% of my total

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Ultimately you can decide whether the reinstatement is worth it in the end.  If you've accumulated a few HPs recenlty, one more isn't going to break the bank - no pun intended.  Ultimately your profile and decision.  Best of luck on whichever approach you decide.

[Anonymous]

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@AnonymousPersonally, I would take the hard pull and try to keep it open. The main reason being that I would prefer not to have "Account closed by creditor" on the report. Other accounts or potential future lenders may see that and be spooked.

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Nah, that wouldn't happen.  Accounts get closed all the time for inactivity and receive this same notation, so it definitely doesn't look bad.

[tacpoly]

Doesn’t Citi maintain internal records that they refer to when making credit decisions? Wouldn’t OP want the account opened so as to not have the returned payment as his last Citi interaction?

[Anonymous]

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@tacpoly wrote:
Doesn’t Citi maintain internal records that they refer to when making credit decisions? Wouldn’t OP want the account opened so as to not have the returned payment as his last Citi interaction?

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That strikes me as a good point -- given that all we are talking about is a single hard pull.

[Tomew2000]

The returned payment was in June.  I’ve paid July and August since then 

[Tomew2000]

The hard pulls don’t affect Fico much.  They really take a toll on Vantage scores though.  

[zerofire]

Sounds like you need to think about if that card was something you want and how it fits into your life. If you really want that card now then take the HP as it will only be a few points and it sounds like Citi is willing as long as you can show commitment and paying of the fees. If you don't then let the matter rest and see your score adjust for the reduced available credit. Regardless remember to pay off any credit that was used from Citi so that you can at least finish off the balance on the card.

[MakingProgress]

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@Physh1 wrote:

What is worse really depends on your credit profile & how much that Citi card dings your total available credit. A well maintained & healthy credit report would likely see a hard pull do practially nothing. If that Citi card is a substantial chunk of your total available credit than closing it will hurt (even more if your utilization spikes) much more than an inquiry. If the card has almost nothing compared to total available credit & won't impact utilization than it's likely a wash between the 2.

In the future I would suggest just pushing payments from your bank...def helps reduce the risk of this to nearly 0.

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Just wondering why you don't have your account information saved on the citi website.  My banking info is saved so I don't have to input it when I make a payment.  Nothing wrong with pushing a payment, as long as you have enough time for it to post to your cc account.  You can input a cc account number wrong just as easily as you can a routing and account number for your checking account.