Amex charge off reinstate

Anonymous — Sun, 08 Mar 2020 20:09:20 GMT

Hi everyone,

I am new to the forum and have been residng a lot about the charge off and how thwy affect your crdit score. I have a question about my Amex debt and hope someone know more than I do and can help. Here are the details:

I have an Amex credit card which I was not able to pay and went to be chargeed off account. It reports under amex on my report as a charge off. It is sheduled to be removed next year (2021). The ammount I owe is 5200.

I did get a email and also mail from amex stating that if I pay in full they can reinstate the card and even restore any points accumulated. This is exactly what their letter says:

You have an opportunity to regain Card Membership

American Express would like to offer you the opportunity to have your charge card account referenced above reinstated. You can also have any forfeited Membership Rewards® points reinstated.

To qualify for this special offer, the total outstanding balance(s) on your cancelled American Express account(s) and/or loan(s) must be paid in full. If you have an active American Express account(s) and/or loan(s), those must be paid current.

Option #1 Option #2 Option #3Number of Payment(s)Monthly Payment Amount*

6	12	18
$864.53	$432.27	$288.18

Once the total balance(s) has been paid and the funds have cleared your bank, American Express will contact you to reinstate your account.

Important Eligibility Information:

If you have been approved for an American Express Optima Card, or if any of your American Express accounts are in a bankruptcy, pending bankruptcy or are in settlement or fraud status your card will not be reinstated. Also, be advised, if you have multiple cancelled accounts, only one charge card account is eligible for reinstatement and it will have a spending limit.

Please note: If this card product is no longer available or may only be available for a limited period of time at the time of reinstatement, American Express may offer you an alternative card product.

My question is what exactly reinstate is and would that delete negative charges from my report? I read a lot about it but still very new and lacking knowledge. I know I can call Amex and ask them but dont really want to before I infrom my self. My only concern is removing the charge off or otherwise i have no intrest to pay as I am gonna be struggaling findinf the money. I f i do reinstate does this mean my charge off will be delte it and it will go back as it was never late? The offer also states that if I dont wnt to reinstate I can settle. I am not sure what my next steps are and would apreciate any help!

Thank you!

Re: Amex charge off reinstate

Anonymous — Mon, 09 Mar 2020 00:39:03 GMT

Welcome to myfico!

Reinstate your account means they will reopen it for you once the balance is paid. While it wont erase the the negative history (it will age off), it will show paid on your report.

I know you stated you have no interest to pay, just know that if you would like another Amex in the future, this will work against you (if you don't pay it).

Good luck!

Re: Amex charge off reinstate

Anonymous — Wed, 11 Mar 2020 22:50:29 GMT

Thank you! I have seen post that have suscfully removed it with amex but nt recent. I was wondering if anyone has done this recently

topic Re: Amex charge off reinstate in General Credit Topics

Amex charge off reinstate

Re: Amex charge off reinstate

Re: Amex charge off reinstate