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Glowgirl

Closed for inactivity - Re-open TL? Let it go?

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I just checked my credit report and noticed that Citibank closed one of my TLs for inactivity. I chatted with a rep online and he said I had not used it in 25 months! 

This simplicity card wasn't my favorite, but I had no idea it had been that long. (And once the account is closed, you can't see the purchase history to verify anything. )

So, I am curious how much this closed account affects my credit.  Apparently this happened back in Oct, and my score is still low 800s, so maybe just let it go?
 

He said I could call and ask them to reopen the card, but I suspect they will just run an inquiry and start a new account, right?  
Maybe it's better to find a card I really like and go for that instead?   I don't mind if they can reopen the account, but I do not want the inquiry for it. 

 

Just curious what is best to do in this situation or if it matters that much. 

Last year I got the Chase Sapphire and started to collect travel rewards, so I could add another Chase card to my lineup....maybe something with bonus points?



  


 

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23 minutes ago, Glowgirl said:

I just checked my credit report and noticed that Citibank closed one of my TLs for inactivity. I chatted with a rep online and he said I had not used it in 25 months! 

This simplicity card wasn't my favorite, but I had no idea it had been that long. (And once the account is closed, you can't see the purchase history to verify anything. )

So, I am curious how much this closed account affects my credit.  Apparently this happened back in Oct, and my score is still low 800s, so maybe just let it go?
 

He said I could call and ask them to reopen the card, but I suspect they will just run an inquiry and start a new account, right?  
Maybe it's better to find a card I really like and go for that instead?   I don't mind if they can reopen the account, but I do not want the inquiry for it. 

 

Just curious what is best to do in this situation or if it matters that much. 

Last year I got the Chase Sapphire and started to collect travel rewards, so I could add another Chase card to my lineup....maybe something with bonus points?



  


 

 

If your scores are in the 800s and you haven't used the card and plan on not using it, then I would think about letting it go. Get a card that will benefit you and your needs.

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do you need the card to balance out your portfolio? or for utilization purposes? 

 

if so, then consider applying for another visa/mc to achieve those goals, while maximizing rewards.

 

if not, let it go.  

 

 

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Do you have other Citi cards?  What was the credit limit on the closed card?  When was it first opened?

 

I wouldn't fret over an inquiry.  I'd be thinking of re-opening the card, transferring the limit to another of my Citi cards, and then closing the card.  

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On 1/30/2019 at 9:59 AM, Glowgirl said:

I just checked my credit report and noticed that Citibank closed one of my TLs for inactivity. I chatted with a rep online and he said I had not used it in 25 months! 

This simplicity card wasn't my favorite, but I had no idea it had been that long. (And once the account is closed, you can't see the purchase history to verify anything. )

So, I am curious how much this closed account affects my credit.  Apparently this happened back in Oct, and my score is still low 800s, so maybe just let it go?
 

He said I could call and ask them to reopen the card, but I suspect they will just run an inquiry and start a new account, right?  
Maybe it's better to find a card I really like and go for that instead?   I don't mind if they can reopen the account, but I do not want the inquiry for it. 

 

Just curious what is best to do in this situation or if it matters that much. 

Last year I got the Chase Sapphire and started to collect travel rewards, so I could add another Chase card to my lineup....maybe something with bonus points?
 

Was it your oldest open account? If not, it barely matters. Even if it was, the age will still benefit you for 8-10 years:

-It will still stay on EX for 10 years

-It will still stay on EQ for 8 more years (10 years from last activity).

-It may stay on TU for 8 more years (10 years from last activity) but TU may drop it sooner if you have a thick file.

 

Ideally, you would want to re-open it anyway if possible. But there is a risk it will show up as a new account no matter what the rep tells you. An inquiry doesn't matter but a new account does, and with your scores you should be getting a SUB for every new account.

 

At the very least, open another Chase card with a generous SUB before you try re-opening the Simplicity! And if you do re-open the Citi card, you can probably PC it to something potentially useful like a Double Cash 2%.

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I'll vote for "let it go", all things considered.  So, touching on a bit of what's been discussed:

 

If you're able to resurrect the card through a review request, I strongly suspect they won't reinstate the existing account.  it's worth a try, nonetheless, assuming that your account age is greater than your average account age.  fHere's my anecdote along those lines ...

 

My Simplicity was the 2nd card opened in 2004, when reestablishing credit after a debacle that shut all but 2 of my accounts down (a department store a/c and a Providian VISA) in 1998.  My Simplicity was similarly closed for inactivity in 2017.  Because of its age (vs a fair number of newer accounts), I was remiss.

 

The card has no practical benefits (even bt offers are weak), and so once one has established cards with stronger benefits, I suspect many are susceptible to eventual closure without activity.  Obviously, my card was on life support, having transferred much of the CL to another card.  I threw a charge at it occasionally, but carelessly let 24 mo lapse without activity.

 

Like OP, I called and asked if the card was eligible for reopening.  I initiated the necessary review and waited ... a couple of weeks later I received notice that I was declined, again for inactivity.  I don't recall there being any other explanation.  At this time, 2017, I had a clean credit report and 780+ scores.

 

Closure had no detrimental impact on my scores (as most here would anticipate).  I'll lose some age midway into the next decade, but that's the extent of the damage.

 

So here's a perverse development:  Recently (6 mo ago?) Citi has decide to promote the hell out of the Simplicity card.  At best, it rates as a "rebuilder".  I don't think there's even a SUB, and there are still no substantive benefits (it's touted "no late fee" is one that I doubt you can take advantage of more than a couple of times, due to other related consequences of delinquency).

 

Yet, rather than target people with thin files, it appears that they're broad-mailing come-ons (maybe with a focus on other Citi cardholders).  We're tossing his/hers offers once or twice every month. 

 

 

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1 hour ago, hdporter said:

... 

 

So here's a perverse development:  Recently (6 mo ago?) Citi has decide to promote the hell out of the Simplicity card.  At best, it rates as a "rebuilder".  I don't think there's even a SUB, and there are still no substantive benefits (it's touted "no late fee" is one that I doubt you can take advantage of more than a couple of times, due to other related consequences of delinquency).

 

Yet, rather than target people with thin files, it appears that they're broad-mailing come-ons (maybe with a focus on other Citi cardholders).  We're tossing his/hers offers once or twice every month. 

 

 

 

I get these offers about twice a month and it makes no sense.  I already have their TYP and DC card so WTF would I want their Simplemindedness card?

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