Determined1 Posted February 19, 2007 Report Share Posted February 19, 2007 Hi,I have read a few posts about re-opening an old account to gain a "new" positive tradeline reporting, but unsure of any potential pitfalls. I have a few old accounts (I recall a Macy's charge card from over 7 years ago) with a very small balance that was closed by the OC. If I went back to them and paid whatever debt was unpaid (about $200?), will they re-open this as a new tradeline, or with the same previous account number and now showing history dating back to the original account? Will doing this with a dep't store cc help my score increase since I have a pretty thin credit file?Any thoughts or experiences - either positive or negative with this approach?Thanks! Link to comment Share on other sites More sharing options...
LNY Posted February 19, 2007 Report Share Posted February 19, 2007 Hi,I have read a few posts about re-opening an old account to gain a "new" positive tradeline reporting, but unsure of any potential pitfalls. I have a few old accounts (I recall a Macy's charge card from over 7 years ago) with a very small balance that was closed by the OC. If I went back to them and paid whatever debt was unpaid (about $200?), will they re-open this as a new tradeline, or with the same previous account number and now showing history dating back to the original account? Will doing this with a dep't store cc help my score increase since I have a pretty thin credit file?Any thoughts or experiences - either positive or negative with this approach?Thanks!I've heard of people getting the TL re-opened with the original date, but can't remember if this ever happened when it was closed by Macy's with a balance. Was it CO?Anyway, your best bet is to call Macy's credit dept. and ask. They're among the friendliest, most reasonable people I've ever dealt with. Link to comment Share on other sites More sharing options...
Determined1 Posted February 19, 2007 Author Report Share Posted February 19, 2007 Thanks LNY. By inquiring, could I accidentally re-age the debt? Link to comment Share on other sites More sharing options...
LNY Posted February 19, 2007 Report Share Posted February 19, 2007 Thanks LNY. By inquiring, could I accidentally re-age the debt?You said it was over 7 years old. Is it still reporting?! Link to comment Share on other sites More sharing options...
Determined1 Posted February 19, 2007 Author Report Share Posted February 19, 2007 Not reporting to any CRA...Do you think such an inquiry could reset the SOL? Link to comment Share on other sites More sharing options...
Determined1 Posted February 21, 2007 Author Report Share Posted February 21, 2007 bump Link to comment Share on other sites More sharing options...
Determined1 Posted February 21, 2007 Author Report Share Posted February 21, 2007 anyone? anyone? Bueller? Link to comment Share on other sites More sharing options...
RudyG Posted March 7, 2007 Report Share Posted March 7, 2007 Hi,I have read a few posts about re-opening an old account to gain a "new" positive tradeline reporting, but unsure of any potential pitfalls. I have a few old accounts (I recall a Macy's charge card from over 7 years ago) with a very small balance that was closed by the OC. If I went back to them and paid whatever debt was unpaid (about $200?), will they re-open this as a new tradeline, or with the same previous account number and now showing history dating back to the original account? Will doing this with a dep't store cc help my score increase since I have a pretty thin credit file?Any thoughts or experiences - either positive or negative with this approach?Thanks!If you are going to pay the balance you should first contact the creditor and have something in writing that states if you pay the full balance they will report "pay as agree" and delete any lates which would be the 7 years. After they fax you that letter you can call them back up and make the payment. Just pay about 3/4 of the balance and they will re-open your account and start reporting again. I just did the came thing with "WFBEXPRESS". Link to comment Share on other sites More sharing options...
Recommended Posts