cancel
Showing results for 
Search instead for 
Did you mean: 

Credit One Credit Card Reinstatement

tag
mmajer4211
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 (48) MONTHS IN



Message 1 of 17
16 REPLIES 16
mmajer4211
Regular Contributor

Re: Credit One Credit Card Reinstatement

Bueller, Bueller...lol

MASSIVE OVERHALL (48) MONTHS IN



Message 2 of 17
FireMedic1
Community Leader
Mega 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
mmajer4211
Regular Contributor

Re: Credit One Credit Card Reinstatement

100 points?? Really??
MASSIVE OVERHALL (48) MONTHS IN



Message 4 of 17
Anonymous
Not applicable

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.
Message 5 of 17
800FICOGoal
Established Contributor

Re: Credit One Credit Card Reinstatement


@mmajer4211 wrote:
100 points?? Really??

@Anonymous 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

 

 



Rebuild Cards

Goal Cards

Loans
Message 6 of 17
Anonymous
Not applicable

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.
Message 7 of 17
Anonymous
Not applicable

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.
Message 8 of 17
mmajer4211
Regular Contributor

Re: Credit One Credit Card Reinstatement

Can you provide the email? If so, pm it to me. Thank you.
MASSIVE OVERHALL (48) MONTHS IN



Message 9 of 17
Anonymous
Not applicable

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
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.