I have a credit card that has been closed because of me not paying. IT HAS NOT BEEN SENT TO A COLLETIONS AGENCY. They gave me a payment plan to pay off the balance of $1122. I am paying about $60 a month, which is more then the minimum.
Could I request to use this card again? Or if they could open it since I am paying the entire balance and finance charges?!
2007-11-23 07:24:39 · 8 answers · asked by ♥ Loving My Babyboy ;) ♥ 3 in Business & Finance ➔ Credit
Some creditors will allow you to rehab your account and allow the card to be reopened and usable once the past due amount is paid.
A few examples - Macy's often allows a person to rehab an account, Amex has an oasis program, Cap One has (or had at one time) a hardship program, etc.
Since you are already dealing with the creditor, call them and ask if they will reopen the account once it is paid.
2007-11-23 09:12:37 · answer #1 · answered by echo 7 · 0⤊ 0⤋
If your account was closed for non-payment, they probably will not automatically re-open your account with them. What they could do is run a new credit check and see if you would qualify. So if the rest of your credit is okay you might get approved, but if you have other problems they will probably deny you.
However, you are still quite a way from paying off the balance. At $60 a month, you are looking at over 2 years before it is paid off, unless they have agreed to charge you no interest. If they are not charging you any interest, this would still take you over 1.5 years to pay it off.
2007-11-23 08:36:59 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
You could request it, but if I were the company, I would think more than twice about granting it. You have a proven record of non-payment and are now making payments merely designed to keep them from losing more on you.
Consider a secured card, basically a debit card.
2007-11-23 08:26:42 · answer #3 · answered by Tom 6 · 0⤊ 0⤋
Its up to your credit card company. You can call now and ask...or pay off some more and on time every time and have a better chance. Even if it gets ugly they'll sometimes reopen it if you can demonstrate you'll pay responsibly.
2007-11-23 07:34:47 · answer #4 · answered by disen87 5 · 0⤊ 0⤋
I seriously doubt it.... If you've had a bad history with them they probably aren't in the mood to open up another revolving account with you.
2007-11-23 07:42:07 · answer #5 · answered by CatDad 7 · 0⤊ 0⤋
It's up to your credit card company........... also check around you might find a better company.
2007-11-23 08:56:26 · answer #6 · answered by micky 3 · 0⤊ 0⤋
unfortunately no....you have a black point in your file now....and maybe other company's may-not open an account for you as will
2007-11-23 08:22:58 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I don't think so........you are not a good credit risk
2007-11-23 07:46:05 · answer #8 · answered by richard t 7 · 0⤊ 0⤋