@NRB525 wrote:And if you do decide to close accounts, don't worry about it. I have two closed accounts I'm paying balances on, I have two others I closed after opening the accounts last year, there are several others in the last few years which were closed. It has no negative consequences for your credit file.
@Anonymous for the hijack, but @NRB525, about what you wrote above:
What sort of account does one have that is both closed butin repayment, and also a positive tradeline relative to FICO scoring/credit building?
@BallBounces wrote:
@NRB525 wrote:And if you do decide to close accounts, don't worry about it. I have two closed accounts I'm paying balances on, I have two others I closed after opening the accounts last year, there are several others in the last few years which were closed. It has no negative consequences for your credit file.
@Anonymous for the hijack, but @NRB525, about what you wrote above:
What sort of account does one have that is both closed butin repayment, and also a positive tradeline relative to FICO scoring/credit building?
In the run up of the credit bubble, I took a lot of advances on CC with Forever Low APR rates, and when the bubble burst, Citi, Chase, and BofA (but not Capital One) began CLD all my accounts. Citi was most aggressive, closed one account outright, and tried to change the terms on another, so I closed that one. The APR on the one they closed was (still is) 2.99% on the offer I was paying off, the other card had 7.99% APR, which in the grand scheme of the debts I had, was a pretty good rate, the one I froze to keep the same terms (a little better than the 29.99% on $20k of open balance they proposed). In both cases, they kept the credit limits as they were, though of course no further advances possible, the accounts moved into "closed" status, and I just kept paying them down. There's no late payments, have never been any late payments, on any of my credit obligations, so they still reflect well on my credit file. Just part of the large utilization balances that have been coming down over the years. From $116k in late 2008 to $31k today.
A closed account is only not available for new borrowing. Whatever payment history you had on that account, and any remaining obligation on the account, is handled a little differently by FICO scoring, but in my case, because the CL is higher than the outstanding balances, it works pretty similar to a regular card line, just not exactly the same. If I had lates, I'm sure it would be negative on my score, so you can't hide a late in a closed account.
Thanks NR. Have you, or anyome else ever re-opened an account that has been marked as such, CLOSED? Hypothetically, lets say you had a 30K CL on this 2.9% line, maxed it out, and it was Closed while you repaid it. After completing the balance payments (or almost cpompleting them) , has anyone ever asked them to re-open it with either the same or even a much lower CL?
I ask, naturally, because I ave one similar trade line with which is over 20 years old .......
I recently caled Citi to ask about re-opening each of the accounts, to be able to get back the Year 2000 Open date of each. I was told that because I had waited more than 30 days (more than 5 years now) that the accounts could not be reopened.
I'm planning on calling the EO later this year to try again. I have almost 2 more years of payments time to keep trying 
A few others have had sucess getting closed cards reopened, but that was perhaps with different banks.