any secured card holders out there who have had their dmc mastercard for a year. what happened after 1st year. did you get unsecured? any limit increases? or unsecured status? please share your experience
RE: direct merchants bank-expe A rep last week told me that after 10 months, the account is reviewed, and if your ducks are in a row, a very straight row, you go unsecured, the 15 day hold on payments goes away, and a credit line increase is offered. I am only in my 6th month, so we'll see I guess.
RE: direct merchants bank-expe What do you mean by in a row. Payments made on time, or do they also look at the date that you made payment. Also, does it matter if I make by-monthly payments. thanks
RE: direct merchants bank-expe Mike is correct. I'm not yet to my year anniversary but my understanding is the same. Everything must be good--you must have handled your account in a very responsible manner. This means making your payments on time--NEVER having a late payment or over the limit charge. The payments must have been POSTED to your account by the due date. If you've at least made your minimum payment according to these terms you will more than likely get an increase and all of the other restrictions will be lifted. If you make more than the minimum, that's even better. If you make more than one payment during the billin cyle, that's fine as long as it meets at least the minimum payment. Look at your card's expiration date. I would imagine you would receive a new card with a new credit limit (if warranted) by then. Also, FYI--the are supposed to be adding the "pay on line" service on August 4th!
