Closed card still reporting

[Anonymous]

I'm brand new to this forum and am completely obessed. As background, my credit score is currently hovering around the mid 580s because I did not realize how badly maxing out my CCs impacted my score. I've recently paid my active cards down significantly and expect a big bump when my new balances hit the bureaus.

My question is re: a closed QS account.  I opened it in January 2019 but Cap 1 closed it shortly thereafter due to a missed payment (I thought I was paying it early and made a payment the day before the new statement cut.  I didn't make another payment that month thinking I had it covered but, alas, I didn't).  The card is still reporting and has never been late.  I currently have about a 53% utilization. My question is, should I pay it off aggressively or take my time so it continues to report the on-time payments?  

Also, the rep at Capital 1 told me I should reapply for the card, does that make sense?

[Anonymous]

I would pay it off ASAP. Typically once a card is closed, the effective credit line is zero so it will show utilization of over 100% and will definitely hurt your scores.

[K-in-Boston]

Depends on how it's reporting.  If the original limit is still reporting along with the balance it's treated the same as an open account for scoring purposes until paid off.

OP, I would only apply for the card again if it's truly the card that makes the most sense for you.  If you're able to pay it off sooner, I would certainly do so as you are likely paying interest on the balance, right?

[Anonymous]

The original limit is still reporting but yes, I am paying interest. 

[Revelate]

Basically getting the debt paid and not missing (or paying late fees) payments is clutch.

Avalanche or Snowball either is functional but just keep making payments on that closed QS till it is gone.