Help - Does anyone know how long Direct Merchants Bank takes to send the actual card? I received a pre-approved offer. Sent the check for $99. After reading some of the horror stories about them at this site, I am starting to get nervous. Anyone have any input? Are they as bad as CCB? I had them at one time. They were the worst. Please help!!
Franceska, I responded to DMB's pre-approved offer by calling them. I received the card 3 weeks later. I received my first statement in the mail today (07/17/00) and it's due 08/01/00. However, I have already paid the bill. When I received the card I set up on-line bill pay with my bank because DMB does not offer on-line bill pay on their web-site. However, their web-site does allow you to view your current activity and your balance. When my billing cycle ended I could immediately see my minimum payment( sent much more as I am told this is how to get limit increases). I then went to my bank's site and paid the bill. DMB posted the payment 2 days later! All this is significant because normally DMB holds your check for 15 days until it clears! So use your bank's on-line bill payment service along with DMB web-site to avoid delays. Here is another piece of advice. Be real clear on what fees and/or deposits will be charged to your card and when. I didn't do this and as a result I exceeded my limit the 1st month by $1.00. DMB charged me an over-the-limit-fee. They will remove an over-the-limit fee at your request as a one-time offer. So I made the request. Also, if you are responded to the offer where they automatically double your limit after the 1st payment is sent in, the increase takes 20-30 days following the payment.
I'm not sure if both of you applied for the same card type but usually they can take up to 4 weeks to recieve. They are slow in getting the cards out I've been told, but I've had no problem. I recently applied on line and in about 14 days recieved my card. It is a great idea to set up the online bill pay thru your back if it's available. I've done that with all my bills.
Has anyone heard how long it takes to get a limit increase? I have a $500 limit on $99 security now, and I hope more is in the works sometime. I have been with them for 5 months now, and have always paid much more than what was due.
I got my card in Jan of 99. My first increase was in July 99, then November 99 and May 2000. Mine is unsecured.
My understanding is that unless you send in additonal funds to increase your credit limit with them, you can't expect to get one automatically until you've successfully gotten through the probation period of 1 year. I know it seems like a long time but I don't mind it at all. I think this will make me look more stable in the eyes of other prospective cc grantors.
