Credit card accounts can be closed by the card issuer or by the cardholder. Regardless, if you decide to keep a closed card, it may be possible to reopen it.
There are two related but separate ways to re-activate a credit card:
- Reactivate a locked card in a way that preserves the original account information.
- Reapply for the previous card to get a new account.
Whether you can open a credit card account depends on the circumstances and the card issuer’s policies.
Reactivate a closed credit card
Generally, card issuers will reopen closed accounts, and cardholders may not even need to file a hard pull, which could temporarily lower their credit scores.
Here are the policies of seven major credit card issuers, with the exception of American Express and Bank of America, which declined to comment for this article.
- Barclays: Cardholders who voluntarily close their accounts can reopen their accounts without any hassle if they apply within 15 days of closing their accounts. After 15 days, the cardholder must reapply for the card. If the closure was initiated by the bank, cardholders are generally unable to reactivate their accounts, with a few exceptions. For example, for accounts closed due to inactivity, Barclays will reinstate the account if the cardholder applies within 30 days of closing the account, but only once.
- Capital One Bank: Cardholders have 30 days to submit a request to reopen a previously closed account. It is subject to a review process and approval is not guaranteed.
- Chase: Opening a previously closed Chase account almost always requires another application and a rigorous review.
- CT: CT will review the application to unlock a closed card. Cardholders should submit a new application based on the circumstances.
- Discover: If a Discover cardholder wants to reopen a closed credit card, they must reapply.
- Bank of America: You can reopen a credit card by submitting an application within 30 days after closing it. There is no need to reapply. After that, the cardholder must submit an application again.
- Wells Fargo: Cardholders who wish to open a credit card account must apply for the card.
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Reapply for an old credit card
It is possible to reactivate a credit card, but it is best to check with the card issuer before applying. You also cannot reapply based on the date you last applied for a credit card. In some cases, you may decide it is not worth applying for a credit card again if you do not qualify for a sign-up bonus.
Application interval
You may have to wait months, or even years, before you can apply for a previous card. For example, if you have a Chase Sapphire Preferred® card or a Chase Sapphire Reserve® card and get a sign-up bonus on both cards, you must wait 48 months before applying for another Chase Sapphire product. Similarly, Wells Fargo has said it may not open new lines of credit for people who have opened a Wells Fargo credit card in the past six months.
Many card issuers have policies that limit the amount of money allowed within a certain time frame. Due to the 5/24 rule, Chase will not approve you for a new Chase card if you have opened more than five credit cards in the past 24 months. The terms and conditions of some Capital One cards state that you are not eligible to apply for a new Capital One card if you have applied for two or more Capital One cards in the past 30 days or received a sign-up bonus for the card in the past 48 months.
Get a registration bonus
Even if your card issuer allows you to reapply for a closed credit card, you may not want to do so. Some issuers won’t let you get multiple sign-up bonuses for the same card, which is a big drawback since some of the best welcome offers can cost hundreds of dollars. American Express’s lifetime rule states that cardholders can only get one welcome discount per card. Barclays has a similar policy in its credit card terms and conditions. Other credit cards allow you to apply for more bonuses after a certain amount of time. For example, you won’t get a sign-up bonus for the Citi®/AAdvantage® Platinum Select® World Elite Mastercard® if you’ve received a welcome offer for the same card within the past 48 months.
