topic DMP in Rebuilding Your Credit

DMP

Anonymous — Tue, 29 Dec 2009 07:08:06 GMT

Can you apply for a credit card while in a DMP? I know it's defeating the purpose, but I need a card of work travel that they reimburse every month so paying it off won't be a problem I just want to know if it's allowed.

Thanks!

Re: DMP

RobertEG — Tue, 29 Dec 2009 07:46:50 GMT

If it is a work card reimburshed by your employer, arent they the guarantor of the account?

You can always apply for a credit card, and being in a DMP is, IMHO, no business of the potential creditor.

I just dont understand why you would have to personally apply for an employer-guaranteed credit card???

Re: DMP

Anonymous — Tue, 29 Dec 2009 09:54:56 GMT

It's not an employer-guaranteed credit card. We have to personally pay for everything and then fill out a voucher when we get back to get reimbursed for everything we spent. Some people just use their money and then put the check in their account when they get it. I don't have the money so I will need to charge the trips and then pay off the trips when I get reimbursed by my company.

Re: DMP

marty56 — Tue, 29 Dec 2009 17:18:49 GMT

While I was in a DMP, I applied and was approved for a Sams Club card. BofA didnt like that and quitely removed the account from the program which caused they payments made by the DMP company to be less then they wanted which eventually lead to a 120 day late which I still have on my Cr for 3 more years.

If you have no other choice, then you have to apply but I warn you that it could adverslly effect your DMP program by one or more creditors.

Re: DMP

Anonymous — Tue, 29 Dec 2009 17:33:35 GMT

Thanks marty56. Guess I won't be getting anything. I am too close to finishing to mess anything up. Leaves me with the choice of asking mom if I can use hers and pay it off when I get the money. Didn't want to do that, but she will be fine with it as long as I pay each trip when I get back. Thanks for the info!

Re: DMP

marty56 — Tue, 29 Dec 2009 18:00:47 GMT

How close are you to finishing? If its a few months out, I would go for it.