Tip on Reopening Inactive Credit Card Accounts
Author: rhwbullhead
Posted: Wed Jun 30, 2004 8:05 am
Post subject: Tip on Reopening Inactive Credit Card Accounts
On my credit report, I have several cards that are reported as open, but that I haven't used in years. I don't even have the cards for these accounts anymore. The accounts are as follows: American Eagle, JcPenny, Marshall Fields, Lord & Taylor, and Household: Harlem Furniture. I had a Chap 7 BK discharged last year; none of these accounts had any balances so they were not included.
I'm wondering what will happen if I ask for new cards for these accounts. Will they pull my credit report before sending new cards, or will they just send me the cards? Does it matter if I never changed the addresses for one or two of them? Also, I never charged anything on the JCPenny card.
I am worried about generating another inquiry on my account. Also, I tried checking the status on a Best Buy card that I had (same situation as above) a few months ago. It was reporting as current, but when I called to check on the account, it began to report as closed. Since the cards are reporting as open/current right now, I don't want to make a mistake of adding inquiries and possibly changing the status of the cards to closed.
What do you all think? Thank you for any input.
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Author: NightStar
Posted: Wed Jun 30, 2004 8:22 am
Post subject: Tip on Reopening Inactive Credit Card Accounts
That is really hard to say - you are right that any number of things can happen.
Their records need to be updated to the correct address before anything else can happen.
They might have already closed the accounts and had not updated the credit reporting agencies... you might ask for the account to be re-opened (which could result in a pull of the credit report) would ask them first if it would result in a hard pull or soft pull.
They might treat it like a lost or stolen card and reissue you a new one - which will be a new tradeline on the credit report (result in the old one being updated that it was lost or stolen).
Or either way, they may require you to apply for a new account, and then review your credit report (hard hit) before. Some of them might be adverse to the bankruptcy filing and result in a decline.
Give me a sec and will bump up a post that was put together listing bankruptcy friendly creditors.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Wed Jun 30, 2004 8:05 am
Post subject: Tip on Reopening Inactive Credit Card Accounts
On my credit report, I have several cards that are reported as open, but that I haven't used in years. I don't even have the cards for these accounts anymore. The accounts are as follows: American Eagle, JcPenny, Marshall Fields, Lord & Taylor, and Household: Harlem Furniture. I had a Chap 7 BK discharged last year; none of these accounts had any balances so they were not included.
I'm wondering what will happen if I ask for new cards for these accounts. Will they pull my credit report before sending new cards, or will they just send me the cards? Does it matter if I never changed the addresses for one or two of them? Also, I never charged anything on the JCPenny card.
I am worried about generating another inquiry on my account. Also, I tried checking the status on a Best Buy card that I had (same situation as above) a few months ago. It was reporting as current, but when I called to check on the account, it began to report as closed. Since the cards are reporting as open/current right now, I don't want to make a mistake of adding inquiries and possibly changing the status of the cards to closed.
What do you all think? Thank you for any input.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Wed Jun 30, 2004 8:22 am
Post subject: Tip on Reopening Inactive Credit Card Accounts
That is really hard to say - you are right that any number of things can happen.
Their records need to be updated to the correct address before anything else can happen.
They might have already closed the accounts and had not updated the credit reporting agencies... you might ask for the account to be re-opened (which could result in a pull of the credit report) would ask them first if it would result in a hard pull or soft pull.
They might treat it like a lost or stolen card and reissue you a new one - which will be a new tradeline on the credit report (result in the old one being updated that it was lost or stolen).
Or either way, they may require you to apply for a new account, and then review your credit report (hard hit) before. Some of them might be adverse to the bankruptcy filing and result in a decline.
Give me a sec and will bump up a post that was put together listing bankruptcy friendly creditors.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:10 PM
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