Can you reopen a closed credit card? Yes, you can! Reopening a credit card account is something that many people do not think about. If you have an account that is closed or suspended, don’t panic—you can get it reopened. However, there are some things you need to do first just in case your issuer denies the request or declines your request for an increase in credit limits.
Call your issuer and request a credit limit increase
Call your issuer and request a credit limit increase. It’s as simple as that.
If you’re like most people, you’ll have been approved for the bare minimum amount of credit that seemed like a good idea at the time (and it might have been). But now, maybe that $2,000 limit isn’t cutting it anymore—so go ahead and ask them if they’d be willing to increase it by $1,000 or so.
You must also remember that this isn’t guaranteed; depending on your credit score, they may tell you no because they don’t think they can get more out of you.
Call your issuer and ask it to reopen your account so you can use it again
If your credit card issuer was unwilling to reopen your account and you would still like to use it, call the company and explain that you are interested in doing so. Your issuer may be willing to work with you if they can see genuine interest on your part and that this isn’t just a ploy for getting more credit.
“If you’ve closed your account (rather than a bank doing so), you can typically submit a request to reopen your account,” as SoFi professionals suggest.
If the issuer does offer some sort of compromise, take it! For example, they might be able to allow you access to some kind of pre-approved balance transfer option or give you more leeway when it comes time for payment due dates and other such things.
Ask the issuer if it can help you improve your score so you can qualify for its best cards
It’s a good idea to ask your issuer if it can help you improve your score so you can qualify for its best cards. Some banks often have programs that let customers with little or no credit history earn points toward rewards by paying bills on time.
You should also ask the issuer if it can give you a credit limit increase so that you don’t max out your card as soon as it opens up again. If this isn’t possible because of financing reasons, see if the bank will offer a second chance at approval with a bigger limit (see below).
Make time pass before reapplying
It is important that you wait a few months before reapplying for credit. This will give your credit score time to recover, which will make it easier for you to get a card in the future.
Applying for another credit card too soon can actually hurt your chances of being approved, since lenders are reluctant to hand out new lines of credit to people who have already opened up several accounts and struggled with them.
If you have a credit card, there’s a good chance that you can get it reopened. However, there are other options as well. If you don’t want to go through the trouble of reopening your account and reapplying for credit cards again, consider getting a secured card or even applying for a personal loan.