Can You Reopen a Closed Credit Card? - NerdWallet (2024)

FAQs

Can You Reopen a Closed Credit Card? - NerdWallet? ›

More often than not, issuers will let you reopen a closed credit card account. But your request may be unsuccessful if your timing doesn't abide by the issuer's policies.

While closing the card may seem irreversible, an issuer may reopen your account depending on the reason it was closed. In many cases, however, you may need to reapply for the same card as a new account.

Closing your credit card is usually thought to be an irreversible decision. However, if you change your mind soon after, you may be able to call the issuer and have them reopen the account — especially if it's been less than 30 days since you closed the card. Here are a few reasons to reopen the same card.

If the issuer has stopped accepting applications for the card you want, you're out of luck. There may be a waiting period. You might have to wait, say, 24 months from the time you closed the card, or from when you were approved the first time around, before you can apply again.

The issuer may restore your account with the previous terms or request that you reapply for the card. If you lost rewards points or miles because of the closure, ask if those can be reinstated — although the issuer is not obligated to do so.

Having a card account closed by the issuer can hurt your credit scores. Use your cards regularly to avoid it.

Credit reports chronicle your history of debt management, and payments on both open and closed accounts are part of that history. Closed accounts may remain on your credit reports for seven to 10 years, and can help or hurt your credit over that time depending on how you managed the account when it was open.

In most cases, no, you can't reopen a closed Capital One account. Once an account has been closed, it is a permanent move. It's very rare for Capital One to agree to open a closed account.

It is unfortunate to note that once a credit card account is closed, lenders generally do not reopen it. This is particularly true if the closure was initiated by the issuer due to inactivity.

What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

Is it bad to have a lot of credit cards with zero balance? ›

However, multiple accounts may be difficult to track, resulting in missed payments that lower your credit score. You must decide what you can manage and what will make you appear most desirable. Having too many cards with a zero balance will not improve your credit score. In fact, it can actually hurt it.

Credit card churning is when you repeatedly open credit cards to game the system and earn multiple intro bonuses. This is a risky behavior and can jeopardize your accounts and credit.

More often than not, issuers will let you reopen a closed credit card account. But your request may be unsuccessful if your timing doesn't abide by the issuer's policies.

Contact your credit card issuer

Once you understand the reason why your credit card account has been closed, call your issuer's customer service to ask about reopening the account. When you do, you may be asked to provide some information, such as: Your name.

In general, most debt will fall off of your credit report after seven years, but some types of debt can stay for up to 10 years or even indefinitely. Certain types of debt or derogatory marks, such as tax liens and paid medical debt collections, will not typically show up on your credit report.

Applying for too many credit cards at once — or doing so randomly or repeatedly — can hurt your credit scores. Here's what to do instead. Erin El Issa writes data-driven studies about personal finance, credit cards, travel, investing, banking and student loans.

Normally, a closed account can only be removed from your credit report if it is an error. For example, suppose an account was closed because the information was listed incorrectly or the account wasn't yours. In that case, you can file a dispute to have it removed.

It could transfer to a new bank or issuer, who you will pay going forward, but otherwise you can keep the account and card. In some cases, the company that purchased your account may convert the account to one of their accounts, or a generic credit card that they offer.