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Hey all,
I recently completed a DMP where I paid off nearly $50K in 18-months, well short of the original 39-month plan! Prior to the DMP, I held an AMEX Platinum, a Green, and a Delta SkyMiles Gold. These cards were NOT enrolled in the DMP, as I had actually enrolled in AMEX's Hardship Payment Program separately a few months prior to entering into the DMP.
Naturally, since I enrolled in the program they closed all cards and offered to put me on a 3-5 year plan with a total balance of around $7K. I ended up paying off the entire balance in a year and a half, with no late payments, and obviously no charge-offs. The program was closed and PIF in July 2020. Now that my rebuilding journey is complete (went from a 550 EX to 705 EQ), when would be the best time to apply again for an AMEX? Something I'm assuming is easier to get into like a Green or Delta Gold? Took a look around the forums and couldn't find something that spoke to a situation as specific as this, but want to make sure I'm timing my pulls correctly and in doing so, have better chances of being approved.
Thanks!
I'm not sure if you've reached out to them, but maybe there's an option to reinstate your account(s) if the AmEx DMP was completed successfully? Just something to keep in mind unless you're looking at different AmEx CCs altogether.
I have not! I assumed that because the cards were closed that they could not be reinstated.
@FinStar wrote:I'm not sure if you've reached out to them, but maybe there's an option to reinstate your account(s) if the AmEx DMP was completed successfully? Just something to keep in mind unless you're looking at different AmEx CCs altogether.
@FinStar wrote:I'm not sure if you've reached out to them, but maybe there's an option to reinstate your account(s) if the AmEx DMP was completed successfully? Just something to keep in mind unless you're looking at different AmEx CCs altogether.
@Anonymous wrote:
I have not! I assumed that because the cards were closed that they could not be reinstated.
@Anonymous - check out the following thread just in case you'd like to entertain that option and see if your account(s) might be eligible:
Can't really contribute anything pertinent to your question, yet as a person who paying off a very large debt (gratefully in the final stretches), I want to congratulate you on achieving paying off that debt!!!!
Thank you! Appreciate the phone numbers and resources.
Just an update, last week I called the number on the back of my Platinum card to see about reinstatement. I had unfortunately recieved a message that since the cards were closed longer than a year ago that reinstatement wasn't possible, but the customer service representative "strongly encouraged" me to reapply over the phone versus online. So naturally, I had them transfer me over to an individual who helped me reapply.
Denied, but not for the reason I thought it would be. I just got the rejection notice in the mail and the reason cited was basically that one of my creditors still has the notation on my credit report that the account is in a DMP. I've followed up with the creditor to get that stamp removed, wait a month or two, and reapply, should these numbers you listed not yield a positive result!
@SPChaser wrote:Can't really contribute anything pertinent to your question, yet as a person who paying off a very large debt (gratefully in the final stretches), I want to congratulate you on achieving paying off that debt!!!!
Thank you and kudos to you for making the same effort! It's a monsterous task especially during this time.
any luck with this?
@FinStar Great information . . . thanks for posting . . . I know someone that needs to look into the same type of situation!