Is It Possible To Re-Open A Closed Credit Card?



Depending on the circumstances behind the closure of your account as well as the criteria of the provider, the user might be allowed to reopen a closed credit card account. There isn't any assurance that the issuing bank would reinstate your card, particularly if it was shut down as a result of late repayments and perhaps some other issues. Therefore, it all ultimately depends on why your account was closed in the first place.

Ways to re-open closed account:

Contact the company that issued your card:

The first and foremost step is to call your issuing institution. Although this is not usually the case, a credit card company can decide to cancel the card should it discovers warning signs, including a significant decline in the credit rating or severe bad information on your credit file. So, contact customer care of the issuing back to get the full details of the current scenario.


Understand the cause of the account closure:

Your provider can opt to terminate a credit card owing to idleness when you have not used it for a period of weeks or years. Or if customers aren't making their payments on time or are in arrears, the majority of lenders will cancel their credit card. After cancelling a credit card containing a balance, customers will still repay the full sum loaned even if the card is cancelled. Therefore, to reopen a closed account users must figure out why their account was closed in the first place.


Request the provider to reopen your account:

Contact your issuing bank and try requesting to reopen your credit card account, if it was closed by you then you may still have a chance to reopen the account but if it were shut down by the issuing bank then it is highly possible that the bank may reject your request.

Compile the data you need:

Before contacting your issuer collect the information that they may ask for, like your account number, registered phone number, name, etc. 

Look for a new card:

It is highly possible that your account may reopen or it may not, so if it is the latter, do not dwell too much on it, and start looking for a new credit card. if it is the credit history you are worried about, it is never too late to start fresh, after all it is better to start somewhere than not to start at all. 

Bottom Line:

Reopening a credit card can be easy or hard depending on the reason why it was closed in the first place. Quite often the difficulty of reinstating a closed account is not worthwhile. Alternatively, users can consider this a chance to hunt for a fresh credit card if they have a perfect credit score and the card was shut out on the basis of idleness or failure to accept revised conditions. Reopening an account also erases all your previously collected rewards, therefore most people just prefer to apply for a new credit card instead of reopening the previous one. Again, it all depends on you and your requirements. 


Additional Reading: Things To Consider Before Having Your First Credit Card




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