- Centurion Member
- Posts: 538
- Joined: Fri Mar 09, 2012 9:29 am
- Location: San Francisco, CA
DMP can work, but I think as part of the agreement, you are suppose to stop using credit entirely. Although I have heard of others who "excluded" a card or two. Not sure how AMEX will react as being on a DMP reports to the bureaus.
Ideally though, if your credit score is high enough or you can get it high enough, you get some low interest credit card or 0% BT card and actively pay it down. It is more flexible than a DMP and most likely a lot lower rates. However, you can still get yourself into problems as you can continue to use and apply for more credit. I know cards with 7ish% interest and citibank has nice 0% for 18 months BT cards.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k