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:
Jerald of Lebanon OR (08/13/08) My wife sends payment on 1st day of every month to pay on my and her credit cards. Invariably it takes five to ten days for them to process the checks which go to a po box. She sends payment to same town for Capital One credit car5ds and they are processed in no more than 3 days. She has talked to the post office (loca) and has told that it should in no way take that long for them to receive a payment, no longer than 3 days. So every month they are tacking on late charges and over limit fees because they say they are not recweiving payments on time. They have been told about this problem and all they have in response is that they have to investigate it first before they can remove theswe charges.
If this is not resolved soon, I am going to turn this over to my attorney and have all of their business pracices investigaed!!
Not making any progress on the amount that they are saying that I or my wife owe them. Several months ago I had to have my account closed and open a new one so they would qqqqqit charging my account for unauthorized charges to my account
Ebbie of Orlando, FL August 12, 2008
Ebbie of Orlando FL (08/12/08) I have been with Direct merchants bank for 9 years and had always thought I had a great reputation with them, I can't tell you how much money i have borrowed and paid back ! It is unbelievable how a credit card co. can take advantage of it's loyal customers. I had a variable rate of 10.9 (a little high but not bad)for years, never late and many times paid way more then the minimum due. Since the economy has jacked up food and gas prices so have the credit card Co.s on their finace charges! I was sent a letter from DMB several months ago about the change in their interest rates skyrocketing to 22.9! I missed the letter!
I always pay my bills online and rarely open my paper mail. If I had known the change I would have cancelled the card and made the convienent payments until the card was paid off at 10.9. WHY CAN'T these credit card companys tell you the change of terms on your online billing? What in the world is the difference? THEY ARE SNAKES and they will find every way to get you.. especially when they raise your finance charge,
be careful of these snakes they will change your due dates to cause you to default and pay even more at 32.0.We as consumers need serious help from the Feds with these credit card co.s they are robbing us blind. And less they do forget, they were the ones looking for me and many others to sign up with them to take on their loan offer!
I'm seeking credit consultation!
J of St Augustine, FL August 11, 2008
J of St Augustine FL (08/11/08) i had a dm card and decided to consolidate some of my cards all of the 12 cards went along with this except dm. nothing the consolidation company could do or i could do was enought. they have the rudeist people working with and for them that i have ever delt with. now this company has sold this to someother company and think that they are shining members of the business world. to me they are the most cutthroat companies i have ever seen and i would make sure that anyone that i know will never have anything to do with this company
Allen of Anchorage, AK July 12, 2008
Allen of Anchorage AK (07/12/08) My wife had a Direct Merchant Bank card in 2006. She decided to put my name on it just in case of imergencies. Unfortunatly my wife had to file bankrupcy and because my name was on file I am stuck with the bill. This was her card befor we even met. I dont know what to do this totally screwed my credit up and left me with a 4000.00 bill
Stephen of Key West, FL July 7, 2008
Stephen of Key West FL (07/07/08) Years ago, i had a Direct Merchant's Master card. When i got overextended, is sought the help/guidance of Ammend Consumer Credit Counseling and got on their program. This particular Master Card was closed and accepted. I never owed more than 1200 on the account and that was back in 2001-02. In any event, they were being paid monthly for the last four years, through the debt counselors.
They sold to HSBC banks and are now saying I owe them 9200 which is ludicrous and deceitful. They are constanly harrasing me and they are very dishonest. All the information online has numerous complaints and the same story. Please help.
They are constantly harrassing me, and they have charged me over 8,000 for NOTHING! Again, this account was closed in 2002.
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