DMP question

[uktaurusbulba]

I noticed that Discover has closed my accounts but other companies still list the accounts as open. Do the accounts simply close once paid off or are the ones that are open usable or is the company keeping there options open with me?

[marty56]

Discover and several others closed them right away.  Wells Fargo closed 6 months after I  finsihed DMP whch was  a yar after it was PIF and BofA is still open.

 I dont thnk any of the open accounts are usable but thats okay since it helps my util and account age so I dont mind that they are open.

 I am prepaired if they get closed since my util is 1% so I wont get a score hit for util.

Discover is pickey about when they get paid so be prepaired to pay them if the DMP is late.  I had to do that twice.

Also you can pay any of the accounts yourself if you have any extra money.

[uktaurusbulba]

Marty, Thanks for the tips. Sometimes I think DMPers are treated worse than bk people. I see on these threads about bk people getting cards. I cant get a card because of my scores, and If I do, Ill get kicked off the dmp rates and put back on those old crappy rates. Im also paying like 16% on some of these balances. Not exactly a "low" interest rate. Id say my avg is about 11%, still very profitable for credit card companies. Just plugging along though, trying to do what I can. Its gonna take me a little while but at least Im able to pay it and I know in the future I will have good credit once again. Long process though.