This seems to be a bank that has a hard time getting things right and an even harder time responding to its customers' needs. It has no trouble jacking its interest rates and fees skyhigh though.
Reading all of this might make you wonder just what kind of bank DMB is anyway. Well, it's one of a handful of "credit card banks" -- so-called banks whose primary business is issuing credit cards. A recent class action suit casts a little light on this odd breed.
Here are a few of the more recent complaints:
Nicholas of Annandale, VA February 16, 2009
Nicholas of Annandale VA (02/16/09) A charge has been attached to my credit card which was never authorized by me. I've contacted Direct Merchant's Bank, as well as AIG Insurance on more about this. I'm still being charged 25.90 every month, and now charged a late fee for subtracting the 25.90 last month after being told I'd not see the charge no more.
This act of financial terrorizm has left me totally affraid to do business with anyone attached to the credit system. This has cause stress on my personal, as well as business life, and has sent my comsumer confidence to a low from which I hope to be able to recover from.
Bonita of Greenbrier, AR February 11, 2009
Bonita of Greenbrier AR (02/11/09) In about 1999 My husband applied and recieved a direct merchants mastercard with a 500 limit. Shortly afterwards we separated and went through alot of hard times. Now, its 2009 and we are back at our original home and have started receiving mail from a collection agency for Direct Merchants for 18,790.42. How can a max limit 0f 500 turn into this?
Joan of Potosi, MO February 8, 2009
Joan of Potosi MO (02/08/09) Six years ago,I had some financial problems,and family medical problems. I always made my cc payments on time, I was late a time or two,and Direct Merdhants raised my interest to 29.9 and hit me with hellashes late fees, they threw me into default, plus my other cc.for the last 6yrs I have had no contact with them, 2days ago a sheriffs deputy met me in my drive way and handed me a supeona.
The planiff on the supeona is no one I know, they had a mention of DM in the supeona. I am 71yrs old, Social Security only income I have. Court date is 3/4/09. The planiff on the Supeona is World Wide Purchasingllc, I've never heard of these ppl. so I went to the internet and found 6 pages of complaints, plus information that they have sold their company to another on 1/3/5 co, called West asset management.
I don't understand how they can sue me for a debt, that is past the SOL ,niether company is in business, and both involved in a class action law suit against them. I couldn't afford an attorney for bankruptcy, and can't afford counsel for this law suit. Plus a 3,000.00 has now turned into 7,300.00 debt, I would never be able to pay this, even if I owed it, which I don't!
Caren of Manhasset, NY February 6, 2009
Caren of Manhasset NY (02/06/09) I called to cancel my card after I had had my credit card number stolen. I was told that a new card would be issued to me and it would be in my hands in 3 business days. I called to follow up for three weeks. After three and a half weeks a new card arrived at my house via USPS after I was specifically told my numerous representatives that the card would be sent via DHL. I spent over 12 hours speaking with representatives and holding over three weeks. Not only was the card sent three and a half weeks later, they failed to provide me with any information on the status of my closed account and new account.
In February of the following year I called to get the total finance charges I had paid for the year. Customer Service told me to add it up myself. I explained because of the fraudulent activity and online payments I had no access on their website for the previous 11 months due to the account number change. I was then told they could issue me paper bills 7 for EACH month! This company has no interest in its customers whatsoever!
Not only was I with out a credit card for three and a half weeks. I was unable to access my previous statements and finance charges online and unable to declare the finance charges I paid on my taxes.
Stanley of Houston, TX January 6, 2009
Stanley of Houston TX (01/06/09) This is ridiculus! I have been a reliable payer on this account for years. They are charging me 29.99%! Never a late payment; I will never get my balance paid off. This is terrible!! the WILL NOT negotiate or lower ones rate. This is robbery. Maybe I should just stop paying, no wonder they are in the position they are in! who bails us out! This country is for the top income earners while us worker bees support their large bonuses and ridiculus lifestyles. Nobody will help...
can't afford it, stress and sleepless nights from being robbed.
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