Hello There, I received a declined letter from Direct Merchants Bank today.... the reasons why I was not approve is as follows: Proportion of balances to high credit/credit limit on all accounts is too high High credit or credit limit on bank revolving accounts is too high or unavailable Too many accounts with balances or information unavailable Too many accounts recently opened and these are the reasons.. well I guess not this time are they a good bank to try again in the next year or so you think... Please let me know.. Thx, Kev Have mother's day for those who are a mother!
If you have sufficient credit elsewhere as your reason codes seem to indicate, don't bother. They used to be pretty liberal with extending credit, but around Oct 2001 they became more tight-fisted. They have a high delinquency rate, pending lawsuits from disgruntled consumers, & NY AG Spitzer is on their case. They're in my "sock drawer".
Hello Rina, Thank You for your info.... Okay I won't bother with it again then... Thanks again... Thx, Kev
I have had my Direct Merchants Bank Gold Mastercard for almost two year and they have only increased my limit by $250 more. I have perfect payment history with them and all my other accounts. I think they are more strict on increases lately and I noticed they removed the secured cards from their website. DMB Mastercard is in my sock drawer along with the two Providian cards I have.
