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Old 05-03-2014, 02:33 PM
 
Location: Seattle, WA
31 posts, read 172,109 times
Reputation: 43

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Over the last 3 years, I've closed 4 credit card accounts that were all my oldest. They were from a period where my credit was really bad, so they all had low (3x $500, 1x $2000 ) credit limits an annual fees of $40/yr each. The oldest one was a Capital One Platinum card with the $2k CL.

While I now have newer cards with much much higher CL's to boost my credit score ( I pay off cards in full every month ), Credit Karma has my score as 686 and gives me an "F" in credit age.

I think reopening the card would be worth it to boost my score for when I go to buy a home next year. Obviously, it's just one part of a larger strategy to get the best deal possible on the home loan.

I've called them twice to see if I could reopen the card or open a new card and transfer the age/history to the new card, much like American Express does with their card, but they are like a brick wall in the matter. I mention that they have been asking me to come back via email every since I closed the last account, and I would do so on the condition they apply the closed account's age to any account I open or re-open.

Should I give up and let time take care of boosting the account age part of my credit score?
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Old 05-03-2014, 03:31 PM
 
253 posts, read 375,999 times
Reputation: 559
To the best of my knowledge, Capital One doesn't reopen cards. However, if you wait about 6 months or so and continue to pay on time, your score will probably be above 700 without the old Capital One card.If you haven't already, focus on your utilization of your current credit limits. Be sure that you aren't using more than 25% of any one credit limit and your score may rise even more quickly than the 6 month estimate.
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Old 05-04-2014, 12:40 PM
 
Location: Seattle, WA
31 posts, read 172,109 times
Reputation: 43
Thank you for taking the time to reply. As I stated, I pay my cards in full every month, so on time payments are not a problem. I have opened several new cards this year so that I have rewards cards that align closely with my spending habits( grocery, gas, restaurant, etc ), that definitely hurt the avg age as well.

I'll play the waiting game for the account age part of my score, and be extra aggressive in boosting the other areas. I will be extremely relieved when I get to 700.
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Old 05-04-2014, 01:26 PM
 
1,198 posts, read 1,780,824 times
Reputation: 1728
I'm pretty sure closed accounts still count towards your avg age until they fall off your credit report.

They don't count towards your available credit, but I'm 95% certain they count towards age so I don't think there is a point in reopening the accounts.
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Old 11-06-2015, 12:37 PM
 
1 posts, read 18,405 times
Reputation: 10
capital one account closed as card had not been used for two years. want to reopen it but how easy is this
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Old 11-06-2015, 12:43 PM
 
Location: southwestern PA
22,247 posts, read 47,165,320 times
Reputation: 47133
Quote:
Originally Posted by milly264 View Post
capital one account closed as card had not been used for two years. want to reopen it but how easy is this
Read post #2 for the answer you seek....
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