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News: Can You Reopen a Closed Credit Card? - Credit-Land.com

The good news is, whether your issuer closed your account or you did it yourself, it may be possible to reopen the closed credit card account with the same account number if you call your issuer and ask. The bad news is that not all issuers allow that.

When you are requesting to reopen your closed credit card, the issuer may either reopen it preserving the original account information, or you will be asked to submit an application to get a new account. In the first case, the issuer may not pull a hard inquiry, while the second implies a hard pull.

However, before you proceed with reopening your closed card, you should understand why it was closed the first place. If your card was closed by the issuer, the reasons might be the following: inactivity, fraudulent activity, over-limit fees, dropped credit score, delinquency, a change in the card terms.

If you closed your card account yourself, the reason can be of any nature. It can be because of interest rates or high fees, or benefits may no longer meet your needs. Whatever reason the card was closed, you may change your mind and want to get your card back.

Once you understand the reason why your credit card account was closed, prepare such information as your Social Security number and your address, and then call your issuer's customer service to ask about reopening the account.

If the issuer decides to reopen your account, make sure you review the terms for any updates or changes in fees. If the issuer refuses to reopen your account, this closed account will remain on your credit report for two to 10 years, depending on the reason why it was closed.

A closed account may affect your credit score, especially if it was not you who closed it. To avoid unexpected account closure, try to maintain certain financial practices, such as showing regular activity on your credit card account; making sure your contact information is up to date so you don't miss any notifications; informing your issuer that your account is still active if you aren't currently making transactions.

tags : Credit Cards Finance Money Management

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.