I think this is good news--you will now have the ability to make your payments to DMB online! Barring any glitches, this is scheduled to go into effect on August 4th! I know some already offer this service so they may be a little behind in the game but in my opinion, better late than never! Also, in regards to DMB reporting to the credit bureaus, this is what I was told: DMB only reports every 3 months. They made reports in May and those will be showing up on credit reports in August. So in August, the report should reflect all activity since May. I hope this helps!
RE: Direct Merchants Bank News Maybe this will allow DMB to stop delaying access to credit when a check is mailed in.
RE: Direct Merchants Bank News Thats great new they are finally catching on Another option is to sign up for Bill Pay with your local bank, that way you can pay all your bills even if the creditors doesn't offer the service yet. It's a great option. I recently started using it and love it. You might want to contact your bank to see if the offer it.
RE: Direct Merchants Bank News Definitely! I was told that when you pay online, there will be no hold time---but if you do have an online payment that "bounces" all future payments will be held even if they are made online.
RE: Direct Merchants Bank News Renae, I spoke with a CS supervisor there today too. I found out accounts are reviewed after 10 months and will then go unsecured, and an increase in credit line will be offered at the same time, if one has a clean record. Also, the "hold" goes away. By December, I may feel like a regular citizen.
RE: Direct Merchants Bank News renae, Thanks for the good news.They send me a Pre- approved acceptance certificate to me on Feb. The mastercard was a unsecure line of credit for 1500 without annual fee. Great! but then, it has not been reported since yet.
