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Credit One Credit Card Reinstatement

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Regular Contributor

Credit One Credit Card Reinstatement

Hey everyone, 

 

Just wanted to get your opinion on something I just did. I had a Credit One Bank card with a $1200 CL that was closed in 11/18 after being 120+ past due. I paid in full in early January and sent a few GW letters to them but they would not remove anything. I just received an email stating I could reinstate the account with the most recent CL ($1200) if I wanted. Well I went ahead and did it figuring it would help with my AAoA as well as credit utilization. What do you think? Thanks for the advice!

MASSIVE OVERHALL (22) MONTHS IN




Message 1 of 17
16 REPLIES 16
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Regular Contributor

Re: Credit One Credit Card Reinstatement

Bueller, Bueller...lol

MASSIVE OVERHALL (22) MONTHS IN




Message 2 of 17
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Super Contributor

Re: Credit One Credit Card Reinstatement

Its not the best card. But! If they reinstated you and say a year later you have no lates you could try and ask to have the 120 day late removed. Never heard of reinstatement. But if its there, grab it. That 120 late is at least 100 points against you now or more. It may be your only chance to get it removed by using the card and dont be late again. But YMMV.

Message 3 of 17
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Regular Contributor

Re: Credit One Credit Card Reinstatement

100 points?? Really??
MASSIVE OVERHALL (22) MONTHS IN




Message 4 of 17
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Community Leader
Senior Contributor

Re: Credit One Credit Card Reinstatement

Absolutely yes. A 120-late is a very serious derog, like a gunshot wound to your score. As Firemedic said, if you reinstate the card, use it responsibly (show them good spending and payments on time), awhile from now they may decide to hook you up and delete the record of that 120 from your reports. You’ll be in line for a huge score increase if it’s your only negative.


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TCL $85,100| Agg. Util under 5%
Message 5 of 17
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Established Contributor

Re: Credit One Credit Card Reinstatement


@mmajer4211 wrote:
100 points?? Really??

@ImTheDevil wrote:
Absolutely yes. A 120-late is a very serious derog, like a gunshot wound to your score. 

 


You will definitely see a large point loss for a 120-late, and it could be more than 100.

 

FICO8-Lates_vs_Time.jpg

 

 











Current

Goal Cards

Message 6 of 17
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Frequent Contributor

Re: Credit One Credit Card Reinstatement

I just had credit one remove 2 charge offs. I’d try a goodwill email asking to remove the whole trade line.
March 2018 - EX: 419 EQ: 456 TU: 423
February 2019 - EX: 537 EQ: 547 TU: 509
March 2019 - EX: 625 EQ: 555 TU: 579
April 2019 - EX: 640 EQ: 637 TU: 642

May 2020 - EX: 690 EQ: 688 TU: 700
Message 7 of 17
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Frequent Contributor

Re: Credit One Credit Card Reinstatement

In addition, you’re better off losing the tradeline history AND the 120 day late and qualifying with a better card with someone else than keeping the lates and reopening with a crappy lender.
March 2018 - EX: 419 EQ: 456 TU: 423
February 2019 - EX: 537 EQ: 547 TU: 509
March 2019 - EX: 625 EQ: 555 TU: 579
April 2019 - EX: 640 EQ: 637 TU: 642

May 2020 - EX: 690 EQ: 688 TU: 700
Message 8 of 17
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Regular Contributor

Re: Credit One Credit Card Reinstatement

Can you provide the email? If so, pm it to me. Thank you.
MASSIVE OVERHALL (22) MONTHS IN




Message 9 of 17
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New Member

Re: Credit One Credit Card Reinstatement

Hello, Do you mind Pm'ing me the email address you used? TIA Smiley Happy

Message 10 of 17
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