Hi everyone, I have couple of accounts that are 10 years old and they were being closed for inactivity (all paid off) because I was out of US for couple years. I wonder if I reopen these accounts will affect the overall ages of my accounts? (I know it might be impossible to reopen but I just want to know if anyone has these sort of experiences.) Thanks
For the purpose of account age stats, it doesn't matter whether accounts are open or closed. If they appear on your report, they're counted.
OP, you will not be able to reopen any closed accounts.
There are extremely rare circumstances under which a lender will allow you to reopen a closed account. One of the biggest factors involves the element of time. The longer an account goes closed, the less likely the already slim chance of it being reopened is. I'm talking days here, not weeks/months and definitely not years.
For the OP I really doubt it, but under certain circumstances, sure, there's a chance.
So you're saying there is a chance?
And, there are certain lenders, not just specific circumstances, that would have no chance to reopen once the request to close an account is actioned or effective. Comenity, SYNCB, Commerce, Fifth Third, FNBO, plus a plethora of CUs, for instance.
I only once ever attempted to reopen a closed (CC) account of mine through a local credit union. This was back before I knew anything about credit in 2015. The CC got closed due to AA. A few months later I contacted the CU and worked my way up the ladder until I got to one of the higher-ups and they said if I had "contacted them sooner perhaps they could have reopened it, but too much time had passed." I have no idea what constituted "too much" but obviously several months was too long.