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Autoshop201

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Credit history impact on credit scores
I payed off a credit account after 12 years and the company automatically closed the account. Being that it was by far my oldest account and all my others are around 5 years old it dropped my credit alot. I talked to the company and they said that they would reopen that same account at their cost and my credit history will show back up on the report. Would going through this with the company actually make a positive impact on my credit score?

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Was it completely removed from your reports or just marked as closed? If it was just marked as closed, FICO scoring systems will still factor closed accounts into the "average age of accounts". You will generally be penalized though whenever you close an active line of credit, but that does not mean that you should keep accounts open forever either. Take some time to do some reading about all credit topics and check out your FICO scores too.

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