Question of Reopening Account

Discussion in 'Credit Talk' started by Frank, Apr 3, 2001.

  1. Frank

    Frank Guest

    Dillards

    Dillards told me today that I can reopen my account since it was closed in good standing. Since the time I closed it, however, I had a bk, chapter 7, in April 1999. Still, Dillards said they don't pull a credit report but do a soft credit inquiry with no inquiry on my cr.

    This may be a chance to raise my FICO and get a department store card. Does anyone have experience and know if it is true that no inquiry is put on an a cr if you try to reopen an account? Any chance that I could get approved for a limit with a 582 FICO?
     
  2. marci

    marci Well-Known Member

    Re: Question of Reopening Acco

    I reopened a Rich's account 3 years after it was closed by them. Two weeks
    after I paid it off, I called to have it reopened.

    They pulled a hard inquiry, and I had 3 student loans in collections and 4
    paid charge offs on the report. I had three accounts that weren't mine
    that were "maxed out" and the accounts that *were* mine were nearly
    maxed out. Rich's approved me, no problem and I even kept the same
    account number. My credit line has increased twice within 6 months.

    If Dillards said they would re-open it, I think they will. Department store
    card's are pretty lenient and want your business. The negative info
    on your reports may get you a low credit limit, but that can be increased
    relatively quickly.

    I say go for it; at the very worst, they will check your credit without
    your being penalized for the inquiry. But I think you'll get it.

    Marci
     
  3. miles

    miles Well-Known Member

    Re: Question of Reopening Acco

    I'm sure they will reopen it with no problem. A friend of mine received a Dillard's card several days ago and she is still paying on her chapter 13 bankruptcy (faithfully). Go figure. Her limit was $800.
     
  4. Frank

    Frank Guest

    Re: Question of Reopening Acco

    Thanks Miles, Marci, and LizardKing - they reopened with a $500 limit! I will build that up as they really are generous with their increases! Meanwhile, I'm on my way to really rebuilding my credit!!
     
  5. marci

    marci Well-Known Member

    Oh good!

    Congratulations! I knew you'd have no problems.
     
  6. MistyEyed

    MistyEyed Well-Known Member

    Re: Oh good!

    Darn it! I had a Wards card with impecable credit behind it when I filed for BK almost 7 years ago, course now they are going BK so it does me no good. Just my luck!
     
  7. KelTex

    KelTex Guest

    Re: Dillards

    Interesting-do you know what CB report they pull?
     
  8. miles

    miles Well-Known Member

    Re: Oh good!

    Congratulations Frank! I knew you would get it. Don't do TOO much shopping, you hear? :)
     
  9. Frank

    Frank Guest

    Re: Oh good!

    How did you know i would get it?? why do some creditors ignore a bk? and where else can i build?
     
  10. miles

    miles Well-Known Member

    Re: Oh good!

    I just had a feeling. And no, I'm not related to miss Cleo! LOL. As far as applying for more credit, do you have any other accounts at this time? If so with who? Maybe some of us on this board can give you some suggestions.
     
  11. Paul

    Paul Guest

    Re: Dillards

    If they stated they will do a soft inquiry, then inquiry will not show to other creditors, or be evaluated in the FICO scoring model. As to whether or not a 582 will qualify you, I'd hesitate to answer that one.


    Good Luck!
     
  12. Frank

    Frank Guest

    Re: Oh good!

    Miles,

    Thanks for the invitation to provide information to keep building credit. Here's what I got:

    Cards and limits: Providian Visa Classic ($5500), Aria Portrait ($2000), FCNB Unsecured (2500), and Orchard (700).

    Fico is 582, bk chapter 7 April 1999, discharged.

    Also, what is your advice on the balance to debt ratio I should carry to build up my Fico?
     
  13. ShyGuy

    ShyGuy Well-Known Member

    how long was it closed?

    And was it still on your credit report?
     

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