I've just paid off one of my credit cards that was in the Debt Mangement Program through a credit counseling service, which is something I'm proud of! It's nice to have accomplished that!
The only issue is, I got a letter from that company offereing to reopen the credit card line since I paid everything off. I'm not 100% sure if it'd be a wise thing to do or not, since using credit cards got me into the DMP in the first place! The upside would be that I'd have more available credit line, which could be a good thing for my credit rating, and since I've already learned my lesson the first time around, I know what NOT to do this time around, which was to charge without making sure I could pay it off pretty much immediately. The credit limit would be a lot lower than what it was orginally, so I wouldn't be able to charge a lot, and it is a store credit card...so it'd only work only for that store, and not anywhere else. The cons would be...well, my credit card useage is kind of what got me in my debt situation in the first place, and I'm not so sure if I should be opening up cards so soon. The offer is only for 30 days, as well, so after 30 days, I don't know if I'd qualify for a new credit card due to my history.
Should I go ahead and accept the offer to reopen the account and "start" over and be more wise, or should I just let it go?