AMEX reinstatement: Y/N/when? PayDown Order: Revolving vs. Fixed? & timeline for GW

[sandez]

I have several accounts. All around 95% utilization (I don't use my cards anymore, as if I even had a choice). I have 14 years of history, and I'm committed to paying off my credit cards.

Today I pulled all 3 of my credit reports, I have zero C/O, no collections, and other late payments *except*for* the only derog I have is my Gold AMEX.

In 7 months ago, I racked up a huge amount (it  had no limit at the time), but I couldnt pay the balance in full (charge card, not credit card).  

So, although I've been making payments every month,  it has been reported every single month since January.  Finally, earlier this month, I have paid the balance in full.

About 45 days prior to paying the balance in full (1) they closed my account (of course, not at my request), and (2) I signed up for a payment plan (which I ended up paying off early, it was a 12 month plan, I paid it in 45 days because I didn't forsee getting the money to pay for it all in one fell swoop).  When I got the letter that said they closed my account, it also stated that  I could request to be re-instated within 12 months of the closure.

I want to keep the AMEX because it is a few years old. To be honest though, I don't plan on actualing using it until/unless all of my cards are PIF.  But I'm also thinking, having an open account with them will make them more likely to approve some GW later down the road.

I read in a different thread that AMEX wouldn't grant somoene a re-instatement because it had been > 90 days.  I feel like asking before I pay off the balances on my cards is dumb... but I don't want to ask 'too late' - what do you think? Should I ask to have the card re-instated? If so, when?  If I waited until the 12 month date of AMEX account closure, I would probably have my revolving credit balances paid to about 20% utilization..but I'm afraid I'll miss my window (assuming I made credit cards my payment priority). 

Which brings me to my Final Questions:

Also, should I pay down my credit cards and leave my 'set payment' loans (even though the interest is higher on those)?

Or should I pay them all down equally/at same rate?

and, How soon is too soon to ask for GoodWill?

[Anonymous]

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@sandez wrote:

I have several accounts. All around 95% utilization (I don't use my cards anymore, as if I even had a choice). I have 14 years of history, and I'm committed to paying off my credit cards.

Today I pulled all 3 of my credit reports, I have zero C/O, no collections, and other late payments *except*for* the only derog I have is my Gold AMEX.

In 7 months ago, I racked up a huge amount (it  had no limit at the time), but I couldnt pay the balance in full (charge card, not credit card).  

So, although I've been making payments every month,  it has been reported every single month since January.  Finally, earlier this month, I have paid the balance in full.

About 45 days prior to paying the balance in full (1) they closed my account (of course, not at my request), and (2) I signed up for a payment plan (which I ended up paying off early, it was a 12 month plan, I paid it in 45 days because I didn't forsee getting the money to pay for it all in one fell swoop).  When I got the letter that said they closed my account, it also stated that  I could request to be re-instated within 12 months of the closure.

I want to keep the AMEX because it is a few years old. To be honest though, I don't plan on actualing using it until/unless all of my cards are PIF.  But I'm also thinking, having an open account with them will make them more likely to approve some GW later down the road.

I read in a different thread that AMEX wouldn't grant somoene a re-instatement because it had been > 90 days.  I feel like asking before I pay off the balances on my cards is dumb... but I don't want to ask 'too late' - what do you think? Should I ask to have the card re-instated? If so, when?  If I waited until the 12 month date of AMEX account closure, I would probably have my revolving credit balances paid to about 20% utilization..but I'm afraid I'll miss my window (assuming I made credit cards my payment priority). 

Which brings me to my Final Questions:

Also, should I pay down my credit cards and leave my 'set payment' loans (even though the interest is higher on those)?

Or should I pay them all down equally/at same rate?

and, How soon is too soon to ask for GoodWill?

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I would concentrate on paying the revolving debt down first, even though the interest is higher on your installment debt. Get you UTI under control and your scores will rise quickly where you may be able to refinance the installment debt at a much better rate. Your scores will rise gradually as those lates age as well.