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Would it be better for my Credit to reopen an account?

I have a credit card account that I had fell back in for a few months the account was then closed. I have now payed up way beyond where I should have. Will it helps my credit to reopen that account or would it be better for my credit to pay it down and finish it off. I’m caught up just trying to see what the best option is to take 

4 Answers

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  • Shay
    Lv 7
    2 months ago

    Why would you think they would even reopen the account.

    The damage is done now.  Reopening that account won't fix anything and it is very unlikely that the company would reopen it.  

    Finish paying it off and then work on paying off any other debts you might have.

    When you are completely out of debt - then consider opening a new card if that is what you really need.

    But - opening a new account hurts your score because there is a hard inquiry on your credit for opening it AND the average age of your accounts will drop when a new account is open.  (the "age" of your accounts can help  your score - the longer you keep an account open and in good standing - the better your score will be.)

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  • Anonymous
    2 months ago

    You don't seem to grasp what closed means. It does not mean when you get caught up everything is good. You harmed your credit. You may have to get a secured card. Discover is best.  You can ASK, but don't hold your breath.

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  • 2 months ago

    CLOSED means you cannot open it again. You probably ruined your credit.  Try for a secured card.

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  • Anonymous
    2 months ago

    If this is only a few months old you might have a problem getting another credit card with a collections on your account.

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