After making regular payments for several months and seeing your debt balances decline, you may be tempted to open a new credit card account while enrolled in a debt management program. But is it a good idea?
Should I Open New Credit on a Debt Management Program?
In short, no. It’s not a good idea, especially if you want to get out of debt. Remember, opening new cards for promotional interest rates, discounts, or because you didn’t have the money to pay for things is exactly how you ended up in credit card debt.
A debt management program is designed to help you get out of debt as fast as possible with affordable monthly payments. Running up new debt defeats the purpose.