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Commentaries |
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Credit Card Commentaries |
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Direct Merchants Bank Gold MasterCard®
Issued by Direct Merchants Bank |
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| Total Posts: 62 |
Average Rating:
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Category: Regular |
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Showing 1 - 10 of a total of 62 Commentaries |
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1-10 | 11-20 | 21-30 | 31-40 | 41-50 | 51-60 | 61-62 |
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| "Credit withdrawn without provocation" |
| I''ve had this card 6 years and paid it faithfully then recently paid it off. Two months ago they raised the interest 5 points. I thought ok, use it some so they see I am still a customer. Today they lowered the $4200 credit line to $300 and the only explanation was "it''s a business decision." This was an important cushion to me and I needed it for emergencies. I have no delinqencies *or* late payments on anything. They did it across the board. If you carry this card, you no longer have much of a credit line. We''re in a depression but this is just bad business. |
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| Most attractive feature: Until recently there were frequent credit line increases |
| Least attractive feature: Random increase of interest, sudden decrease in credit line |
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| Posted by: Nancy |
| Date: 2/21/2009 |
Recommend?  |
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This person does not recommend this card.
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| "This post is a bit late when compared to others but..." |
| I had to share my experience. I've been a DM cardholder for several years now and when my interest rate suddenly shot up to 29.99% with no explanation I was livid, not to mention puzzled. It wasn't based on my credit [report] or payment history because they were both good. I never got an explanation but a rep finally decided to give me a break. The a.p.r was lowered to a whopping 26.49%. *Big woopty doo* It was still significantly higher than the original rate. I've read other online reviews with similar claims and those cardholders were told by DM that the interest was raised to generate more revenue from their card, not because of their history with the bank. What the..?? Also, there was a time when I was out of work for about a year due to illness. I have NEVER felt so angry or mistreated in my life! Their collections department is ruthless and would call me numerous times throughout the day, including early mornings on Sundays. I told them so mamy times that I wasn't working and therefore had no income. "If I don't have money I can't give you money", I would explain. I even tried to be proactive by calling them to explain my situation and ask for a payment arrangement or program that I could enroll in, just to be told that it didn't exist. Instead of helping me, as a customer trying to work with them and get their money paid, they chose to harass me. I still haven't been able to pay the balance off completely due to high interest, but am working on it. STAY AWAY! I repeat, STAY AWAY FROM DIRECT MERCHANTS! To the person who wrote about reading the cardholder agreement, I think I speak for most people when I say the complaint is not about "the agreement", it's about the way DM does business and treats/mistreats cardholders. I have other cards that I am completely satisfied with. No one wants to be treated like a moneybag or revenue generating machine. Business is about making money - yes, but it's also about building great business relationships and that's where DM gets an 'F'. You may be wondering What's good about the card. Uhhh, it's appearance, Oh, and I have a high limit, but that's based on me (my credit) not Direct Merchant's Bank. That's my 2 cents. |
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| Most attractive feature: Suddenly I'm at a loss. |
| Least attractive feature: Extremrly high, unexpected interest rates & customer service. |
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| Posted by: Ty |
| Date: 7/25/2006 |
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This person does not recommend this card.
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| "Late Fee / Overlimit Fee" |
These people who defend DMB like
Anonymus and Dave are idiots who are probably married to DMB employees! DMB set policies, then charges one fee outside policy and another inside policy! Their email answer to me quoted the policy that Saturday & Sunday were counted as one, but my payment on Sunday was one date late although the website advised on Saturday & Sunday that the payment would not be processed until Monday! That was so they could charge a $39 late fee which in turn caused an overlimit condition for another $39 fee. AS dishonest as this was, the kicker was that they denied a charge request 2 days before the payment due date and explained that action in their email as being warrantied because of the late payment condition! They are either stupid, dishonest, or both. I will be paying the card off, canceling, and recommend that anyone avoid them like Alqueda! I need a credit card, but no sense giving a company like this a rope!
Oh and all you defenders, there's some kool-aid DMB makes available to you special people!
Hopefully we common people will wake up and realize what the elitist "class" are doing and begin to understand they can only do it because we let them! Credit Unions were supposed to give us some clout, but they were taken over by the silk suits. We need to form grass roots institutions to serve us only! |
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| Most attractive feature: They give credit when others won't |
| Least attractive feature: They give credit so that they can rip you off! |
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| Posted by: L |
| Date: 3/27/2006 |
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This person does not recommend this card.
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| "customer service" |
| you penalize people who make large payments or payoff their balance by holding their payment even when it comes by phone directly from their account. This should be illegal. I have had a card with you for over eight years and my history itself proves this is not necessary. |
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| Most attractive feature: none |
| Least attractive feature: you hold payments that are debited directly from our account |
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| Posted by: Jenny |
| Date: 6/15/2005 |
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This person does not recommend this card.
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| "Gold Turns To Lead" |
| I had the Direct Merchant Gold Card for about 6 years, the first 4 years was ok and managable. The interest rate flucuated between 15 and 21 %. The last 2 years they went through the roof to a 29%. I hadn't charged on the card in over 2 years, made over the minimum payment and still were charged the 39.00 dollar over the limit fee. I paid the card off in full, which they over charged me for, when I called to have the check sent to me I was told by a "supervisor" that it would take 21 business days before they would mail me the refund. They also charged me 40.48 in interest after the card had a zero balance. If anyone from direct merchants contacts you my advice is run the other way as fast as you possibly can. |
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| Most attractive feature: ummmmmmmmm.......none |
| Least attractive feature: poor customer service...and high interest rates |
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| Posted by: James |
| Date: 5/3/2005 |
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This person does not recommend this card.
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| "What is wrong with people these days? " |
Do people not remember how credit cards work? You borrow money from a bank whether it be for cash advances or purchases at your local store and you pay the bank back the money you borrowed within a certain amount of time. If you fail to do so there are of course going to be intrest and penalty fees that apply. This is no surprise by all means!!! That is why when you sign up for a credit card you should read what is called the
"Card Holder Agreement." This acts as a Owners manual for your credit card. All of the fees that get applied to delinquent accounts,etc are listed in the terms & conditions in a card holder agreement. So if you don't like the interest rate on a credit card.... Don't apply for it! it's that simple! There's no surprise that is thrown into the equation anywhere. Sure it's riddiculous to pay a high interest rate & penalty fees when you are late on a payment but so is signing up for a credit card without reading all the consequences for what is considered a breech of contract when you do not abide to the terms and conditions of a credit card.Why should a bank have to eat the cost they paid to lend you money just because you can't pay them back? So before you sign your name on that dotted line ( And occasionally mark the box for a RUSH delivery ) Make sure you read your card holder agreement first. Credit cards are NOT and I repeat NOT free money.
-Anonymous |
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| Most attractive feature: They list their terms & conditions in the card holder agreement like other credit card co. |
| Least attractive feature: N/A |
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| Posted by: Anonymous |
| Date: 4/25/2005 |
Recommend?  |
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This person does recommend this card.
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| "Stay away from this credit card." |
I have had an account with Direct Merchants for about 3 years. I have always paid more than the minimum payment. I took the disability insurance, because I am not a young person.
I filed a disability form that I thought should make my payment while I was off work due to surgery. Well, when I called them, I was told that this insurance only paid the premiums and interest charges. However, the amount they paid to Direct Merchants was enough for 2 months payments.
I sent a copy of the notice from the disability insurance with my monthly statement and said I would like to have that amount credited for my March payment.
Ten day after the payment was due they started calling me two or three times a day. They said I owed them twice as much as the March payment would have been and that after ten days my account was in collection.
Please stay away from this company.
ckb
I told them I wasn't paying that much, it wasn't due and they should take the insurance money to make the payment. They refused to do that. So, I told them to send me a bill and I would pay what I thought should be paid and would cut-up my cards and they should cancel my account.
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| Most attractive feature: I found no good features. A lot of promises, never kept. |
| Least attractive feature: raising interest rates and not having the disability coverage promised. |
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| Posted by: Cheri |
| Date: 3/26/2005 |
| Recommend? |
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This person does not recommend this card.
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| "King of rip off artist.... PLEASE run for your life" |
| Please do not apply for a card thru direct merchants bank....they are the KING of rip off. I have had this card for about 8-9 yrs. I have paid off the entire balance a couple of times which with them counts for O. I recently had to stop working on my doctors say so, I had no choice. I had to travel to another state to see a specialist. I was and am still very sick. At the time I was fighting for my life. Well when I got home the direct merchants started calling me with an offer, if I could come up with $500.00 dollars they would match it with $500.00. Well this sounded good but I didn't have that much money even to live on, remember I have not worked in a while and applying for disability takes sometime. I am not someone who wants disability I would love to go back to work but can't. Well anyway the srv rep said he would put in the computer to not charge me anymore over the limit/late fees until we talked again and he said he would contact me before the 12-15...so I waited and my return call never came so I called them,asked for the serv rep and he was nowhere to be found so I told this person that I am now talking with that I thought I could come up with the $500.00 but this would wipe me out. Now remember this was supposed to be a "match pay" to me it means dollar for dollar and that was how it was explained. Well the srv rep I am talking to now told me that I was just charge another ovr limit/late fees another $100.00 now I am $800.00 behind in late fees, so I still told him I could pay the $500.00 and ask him to confirm that they would match it and that they could waive the late fees that I was told would not accrue untill they called me back. He said we can not waive any late fees and we can only credit you with $300.00 toward the balance. I was up set but he said this will put you below you limit and your payments will only be about $35.00 dollars a month. Well I again said ok and paid my last $500.00. Two days later I got a letter in the mail that they were so happy and would in 30 days....enough time for more late charges, credit me with a big $184. they had now decreased the "match pay" amount again to $184.00...quite a bit less!! So I called them again and talked to the rudest most uncaring so called supervisor I had ever talked to. First he wanted to do all the talking or should I say screaming. I explained about my heart problems and that I could no longer work but that I did intent to pay my bill but that the amount in the letter was a lot less than the match pay was first and second quoted to me...He told me to shut up and that I should pay my bills and stop looking for sympathy. I asked for the CEO or president of the companys name and was told "we don't have one". Well if they don't I would like to know who all the ill gotten gains are going to. He then told me I was lazy and beligrant and hung up. I did get the CEO's name and his address by calling another DM phone number. That also is a problem with these people they change there address and phone number like we change our underware. Also they will raise the intrest rate without prior notice to you and when you pay your payment all you are paying is the interest until you get into the over limit/late fee and you are charged both, so without spending any money yourself they are getting rich off of you. Oh one more thing when I told the supervisor I would just have to go bankrupt he replied go ahead thats what people like you do. This is truley the company from HELL and you will be in debt to them for the rest of you life............. |
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| Most attractive feature: there is none |
| Least attractive feature: too may to list in 15 words |
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| Posted by: Anne |
| Date: 12/21/2004 |
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This person does not recommend this card.
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| "Stay away from " |
| I have a Directmerchants credit card and always make my payments on time and never go over the limit (they claim I was late one time when I made an online payment, I was not late) and for some unknown reason they keep raising the APR higher and higher. I have had this account for several years but I have decided to pay this card off, cut it up and tell everyone PLEASE DO NOT GET THIS CARD!!!!!!!! |
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| Most attractive feature: none |
| Least attractive feature: everything |
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| Posted by: MARY |
| Date: 11/4/2004 |
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This person does not recommend this card.
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| "Late fee" |
| I had a DMB card for 6 years....as of late, no balance. I was charged a late fee for a payment that posted 3 days after the due date...and I am not sure why. Anyway, when I called to have it removed I was told they would not remove it, that they would like to discuss payment options so that my payment would never be late again. I told them not to worry, I did not need their options, I was cancelling the account. They could not get me to a supervisor and transfered me to an account specialist, who credited my account the $39 and then cancelled my account at my request. He could not understand why I would want to cancel the account after 6 years with them, I told him I could not understand why they would charge me $39 for a payment posted 3 days late without looking at my account history. Things happen and I was very dissatisfied with the service I received. |
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| Most attractive feature: It is a credit card |
| Least attractive feature: Poor customer service |
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| Posted by: slk |
| Date: 5/21/2004 |
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This person does not recommend this card.
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Showing 1 - 10 of a total of 62 Commentaries
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1-10 | 11-20 | 21-30 | 31-40 | 41-50 | 51-60 | 61-62
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