My FICO score while on DMP

[Anonymous]

I've been on a DMP since April 2005.  I have "avoided" checking my FICO since I started the program.  I guess I was kinda scared.

Since I'm nearing the conclusion of the DMP, I decided to go ahead and pull the score so that I could develop a plan to re-establish my credit.

According to Score Watch, my EQ FICO is 744.  From what I've read, that's a decent score.

So now I'm not sure what I'm supposed to do to re-establish my credit after the DMP.  I know this may seem silly, but I had been dreading leaving the DMP because I figured my credit would be ruined and I'd have to live in sub-prime CC purgatory for several years.

I owe $3,000 on one CC.  I'm hoping that my score will hit 750 after I pay that balance by the end of Feb.

So my question is this:

Is it possible to have a score of about 750 and still have bad credit.... or be considered a bad credit risk?

As for my other 2 scores, I don't plan to pull those until after I'm done with the DMP.

Message Edited by esshua on 12-27-2007 11:05 AM

[marty56]

I graduated a DMP last month.  I just got a National City Visa with 10k cl.

I also just got a Bill Me Latter 6 month no payment/interest for a 3k puchase which I will PIF in 4 months.

With your scores, you should not have any problem getting credit.  It is possible that some of your creditors on the DMP may Blacklist from further credit with them even with your great scores.  I would check out the following:

1.  A Credit Union

2.  Sams/Walmart card

3.  Visa/MC card that was not among the companies you had in the DMP

Also it may pay to check www.whogavemecredit.com and see about score vs approval rate.  Since you may take a hit on your score when you aplly for credit, it makes sense to apply with CCC that pull from different CRAs.

National City pulled from TU so if I was going to apply for another credit crad, I would make sure they pull from EX.  There is no guaranty on who they pull from put whogavemecredit is a great place to start.

Also having no lates in the last 24 months helps as well.

Also do not apply for credit until after the DMP since the lates on my CR are from BofA dropping me from the program and rasining my minimum payment with me knowing about it.

I didn't have any lates on my CR until that time.  Learn from my mistake and rember there is life after DMP.

Message Edited by marty56 on 12-27-2007 11:32 AM