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Here is a list of our partners and here's how we make money. If you don't use a credit card for a year or more, the issuer may decide to close the account. In fact, inactivity is one of the most common reasons for account cancellations. When your account is idle, the card issuer makes no money from transaction fees paid by merchants or from interest if you carry a balance. Credit card companies are under no obligation to reestablish a canceled account.
Moreover, if you lost any accumulated rewards when the account was canceled, you probably won't get them back. Get in touch with your card issuer right away and ask to have it reinstated. If you act fast, you may be able to negotiate to have the card reopened. But be prepared for bad news. Protect the card or cards you still have open. Use each card at least every few months to keep the account active. We may receive compensation when you click on links to those products.
Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page. The canceled card is also still subject to approval, which could take up to 10 business days. While a reinstatement fee is certainly annoying, if you can really max out and find value in the new perks it may be worth reinstating.
Instead, you should consider other, less credit damaging options first. Related: No travel, no problem: 6 Amex Platinum benefits you can use from home.
No business wants to see its customers leave, which is why issuers will often offer some sort of retention offer in points or cash to keep you. Related: Your ultimate guide to credit card retention offers. For rates and fees of the Amex Platinum card, click here. Terms Apply. Disclaimer: The responses below are not provided or commissioned by the bank advertiser. The good news is if she acts quickly, she might be able to get her account reinstated.
Chase has a policy that allows you to reopen a credit card within 30 days after closing the account, though some reports online indicate that people have had success even outside of that time frame. Related: The ultimate guide to credit card application restrictions.
American Express has a similar policy, where within 30 days you should have no trouble but you might have some luck after that. If you closed the card intentionally, things might be a bit stricter, though many issuers will honor the day grace period. Related: Maximize your wallet with the perfect quartet of Chase cards. This question ultimately boils down to two factors: how long its been since you closed the card, and who the card was issued by. Even within the day window, be careful with BoA and Citi who may try and pull your credit again first.
Terms Apply. Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy. This compensation may impact how and where products appear on this site including, for example, the order in which they appear.
This site does not include all credit card companies or all available credit card offers.
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