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Whether you closed your credit card by choice or your issuer canceled it, you may be wondering if it's possible to get it back. The answer depends on your issuer's policies.
It may be possible to reopen a closed credit card. In general, it's more likely to be an option if the card was closed for a minor reason, such as an inactivity, or if you closed it yourself. If your card was closed due to missed payments, on the other hand, your lender may not be willing to reinstate it.
Here's what you need to know about why your credit card may have been closed, how it could impact your credit and steps you can take to request it be reopened.
Steps to Reopen a Closed Credit Card
Some issuers may be willing to reinstate a closed card, but it depends on their policies and the reasons your card was closed. Here are steps to follow.
1. Figure Out Why Your Account Was Closed
Your credit card could have been closed because you initiated the closure. Or, your credit card issuer may have canceled your credit card for several possible reasons:
- Your card was inactive. Your issuer could have closed your card if you didn't use it for an extended period of time. The specific period of inactivity that may result in cancellation depends on the issuer.
- You stopped making payments. Your issuer could have closed your card if your payments were delinquent or if you entered default (at which point the issuer may also have sent your balance to collections).
- You spent over your limit. If you spend over your credit limit and don't make a payment to bring your balance back within the limit, your issuer could close your credit card.
- You breached your credit card agreement. Credit card issuers set terms for how cardholders can use their account, including spending limits and fees or restrictions for certain types of transactions. If you don't stick to your cardholder agreement, your issuer could cancel your card.
- You filed for bankruptcy. If you file for bankruptcy, any credit card accounts (whether or not they have an outstanding balance) are likely to be canceled.
If you're not sure why your account was closed, you can contact the issuer to ask for more information.
Learn more >> Why Credit Card Companies Close Accounts Without Telling You
2. Gather Your Information
It's a good idea to prepare yourself with some documents and information before you reach out to your card issuer to ask them to reinstate the card:
- Identifying information: You may need personal information to identify yourself to your card issuer, such as your Social Security number.
- Financial information: You may need to be prepared with financial information, such as your income and your monthly housing payment. Just like when you apply for a credit card, some issuers may ask for proof of income to approve your request to reinstate the card.
- Reason for account closure: If you closed the account, be ready to explain why you'd like to reopen it. If your issuer closed it, you should prepare to state your case for why they should reopen your account.
- Your credit card number: It's a good idea to track down your credit card number and have it at the ready in case your issuer requests it to locate your account.
3. Call Your Credit Card Issuer
Call your credit card issuer's customer service line to request that they reopen your account. Be prepared to address the reason why your card was closed, plus provide up-to-date information on your current credit and financial situation.
If the issuer agrees to reopen your card, be sure to review the specifics of your agreement. In some cases, the issuer may require you to go through a formal application process, including a hard credit inquiry. They may also reevaluate your terms, including your interest rate and other fees (more on this below).
Does a Closed Credit Card Hurt Your Credit?
Yes, it's possible for a closed credit card to hurt your credit. Here are potential impacts:
- Credit utilization ratio: Your credit utilization ratio is a measure of how much credit you're using relative to your total available credit. By reducing your available credit, closing a card can increase your utilization rate. That, in turn, can cause your score to drop. High credit utilization may also be seen by lenders as a sign of overdependence on credit, which can make you look risky and restrict your borrowing options.
- Credit mix: If the credit card was the only type of revolving credit you had open, its closure could have a negative impact on your credit mix. Experience effectively managing diverse types of credit makes you look reliable to lenders, and it also has an impact on your credit score.
If the card was one of your oldest credit accounts, its cancellation could eventually reduce the average age of your accounts, depending on the credit scoring model. However, if the account was closed in good standing, it will remain on your credit report for 10 years and continue to factor into your length of credit history, so this is not an immediate concern when you close a card. Generally speaking, the longer your credit history and the older the average age of your accounts, the better for your credit.
Learn more >> Does Closing a Credit Card Hurt Your Credit?
How to Avoid Your Credit Card Being Closed
If you have a credit card that you rarely use, inactivity on the account could lead your issuer to close the card. Violating your cardholder terms can also lead to your account being closed, so be sure to read your cardholder agreement for specifics.
Here are some general tips to make sure your account stays open:
- Use your card regularly. If you don't use the card for everyday spending, consider setting up one of your monthly bills, such as a streaming service, to automatically charge to the card each month. Even small transactions will keep your card active.
- Set up autopay. To ensure you never miss a payment, set up automatic credit card payments for at least the minimum amount due each month.
- Don't spend beyond your limit. Be sure to stay well within your credit limit to avoid breaching your card terms.
Learn more >> How to Avoid Credit Card Cancellation
Should You Reopen a Closed Credit Card?
Whether or not it makes sense to open a closed credit card depends on the specifics of the card, plus what other options may be available to you. Even if your issuer agrees to reinstate your old credit card, there may be some changes to your account:
- Your interest rate may change. Your issuer may choose to evaluate your creditworthiness and apply new interest rates and fees based on your current credit profile.
- You may have a lower credit limit. Card issuers set your credit limit based on your credit score, payment history and financial factors, such as your income and debts. When you request that they reopen your card, they may not reinstate your old limit. Instead, they may base it on your current credit and finances.
- You may not be able to recoup your rewards. If you had accumulated rewards on your credit card before it was closed, reopening your old card won't necessarily mean you get these rewards back. Those perks may have been forfeited when your card was canceled.
Consider a New Credit Card Instead
In some cases, reopening a closed credit card may not be your best option. Shopping for a new credit card instead could give you access to a broader range of perks.
- New credit card rewards: Depending on your credit score, you may have access to more competitive cardholder benefits now than you did with your old card. That could mean more generous credit card cash back, points or miles, for instance.
- Potentially lower rates and fees: If your credit's gone up, applying for a new credit card could help you unlock the lowest possible rates and fees based on your credit profile. If your old card had an annual fee, shopping for a new card with no annual fees could help you save.
- New cardholder bonuses: Some credit cards offer special promotions for new cardholders. Those could include an introductory 0% APR period or the chance to earn a welcome bonus when you spend a certain amount in a set timeframe.
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The Bottom Line
Whether you closed your credit card voluntarily or your issuer closed it, it may be possible to reopen it. Consider reaching out to the issuer to make your request. That said, there are no guarantees they'll reinstate the card. And, there could be better options out there: If you weren't happy with your old card's terms, looking for a new card that you're likely to qualify for can help you find a better match.
In either case, consider signing up for free credit monitoring through Experian to get a clear view of where your credit stands now. If your credit needs some work, it may be worth pursuing a borrowing option designed to help you improve it, such as a secured credit card. On the other hand, if your credit is in good shape, you can leverage this when you contact your old issuer, or enjoy wider options for new cards.