Hi CardBhai
I am working with Bank to settle my good old credit card ( Issues in 2005 , Last used in 2006 and I was contacted in 2016 for credit history clearance). The current status is "write-off" in CIBIL and bank promised to change the status to "NIL Outstanding" once the payment is done and also offered to re-initiate my credit card.
Now that I am planning to clear the amount (agreed to pay around 35k out of 1.35 lacs pending where the actual principle is 20k only)and post which should I get the account closed or re-initiate the card and maintain it for couple of days.
I had many cards in the past , closed all of them and using ONLY ONE from last 10 years with a credit limit of 7 lacs and monthly using limit is around 50k which I pay every month without fail.
NEED UR SUGGESTION WHETHER I SHOULD CLOSE THE CARD THAT I AM SETTLING WITH THE BANK OR GET IT RE-INITIATED . Which option can help build my history. I thought continuing would help as I will get to know if the bank has really closed all the pending accounts
![Smiley :)](http://www.dalalstreet.biz/forum/Smileys/default/smiley.gif)
Your advice would be of great help for me and also will remain as knowledge base for viewers
Thanks
Sharath