Does anyone have the Direct Merchants Bank secured card that's supposed to increase from $250 to $500 after 1st payment? I got the "pre-approved" offer in the mail and responded by phone. The rep assured me that my limit would increase to $500 instantly after I made my 1st payment. I made my payment on 07/10/00 and called. They said it would be 20 days later or 07/30/00 (what happened to instantly!!!!). So I called on 07/30/00 but was told that it's 20 business days or 08/08/00. Well I called today and was told that it's 20 days from my statement due date which would be 08/20/00. Can you believe this. THREE DIFFERENT ANSWERS! to the same question. What began as an instant credit limit increase is more than a 30 day wait! I believe they only said instantly to get me to apply! The pre-approved offer only says "credit limit increase when you make your 1st payment". This false and misleading advertisement! Does anyone else have this card? When did you get the increase?
RE: DMB increase after 1st pay I have this card--was told I'd have a $250 limit but when I was sent the card I had a $500 limit. I was not told that beforehand--it was a total surprise. Overall, my experience with DMB has been very positive. I'd call back if you can, ask to speak to a supervisor and get the real story. This must be something new that they are doing.
RE: DMB increase after 1st pay While you have a secured card, (or at least for the first 10-12 months) DMB will hold your payments for 15-20 days to be sure it clears. Instantly doesn't literally mean instantly. If you get it within the first month of having the card, that's pretty good. I wouldn't complain. Sometimes we have a tendency to expect too much.
RE: DMB increase after 1st pay They are a good bank. I've never had any problems with them. But sometimes they can be slow. I started with the 500 dollar card too. I had some other cards that were unsecured, but needed a feww new tradelines on my report. Not a bad deal, and you get your small deposit back.
RE: DMB increase after 1st pay Excuse Me? A "tendency to expect too much". Yes I expect a lot, especially when it was promised BEFORE I took the card. I expect not to be lied to! Is that expecting a lot? If I am late or over the limit, DMB expects me to pay because I said I would! Then I expect them to do likewise. I am the customer/consumer and I expect to be treated like one. If DMB or any business decides to take me as a customer even though my credit is sub-prime then I am their customer. I expect AMEX-style customer treatment or don't ask me to be your customer! Remember DMB solicited me with a pre-approved offer promising all kinds great things. I expect those things promised! By the way, DMB does not hold my checks. I pay on-line and the payment is posted in 2 days. I called again last night and got a 4th different answer. I was told it's 20 days from the 1st payment but don't count Sundays! I am a manager at a well-known firm and we believe that consistent training amoung our employees is essential to customer satisfaction. DMB needs to learn this.
RE: DMB increase after 1st pay I agree with Mike they are good but can be slow. And yes, I still say--DON'T EXPECT SO MUCH!!!
RE: DMB increase after 1st pay Derick, I have on-line bill pay service set-up through my bank. They charge 5.00 per month and pay all my bills. I sign-on to my bank's web-site and type in how much I want to pay. They then subtract the amount from my checking account and electronically mail the payment. It takes 2 days for Direct Merchants to receive and post my payment. I have heard that DMB will have their own on-line payment on their site beginning 08/04/2000. If not check with your bank and see what they offer. It's great and I am never late with any bill.
RE: DMB increase after 1st pay Derrick--DMB is supposed to have a pay on line service beginning on August 4th which is Friday! Hopefully they will be on time. I think the previous poster was referring to a Pay on line service through their bank which allows you to more or less pay bills to different creditors on line. You would have to check with your bank to see if this is available. It is very nice because you can pay most bills this way. But again, just check the DMB site after Friday and hopefully it'll be up and running. Orchard bank already has one in place. Just go to their site and click on "pay my bill" and it will first take you through a registration process which will then allow you to pay on line when you'd like.
RE: DMB increase after 1st pay Who does dmb use to pull credit. Also, how hard is it to get credit with them.
RE: DMB increase after 1st pay Being they have a variety of credit card types, you should find one to suit your needs. For more information on their cards you may go to their website www.directmerchantsbank.com Good luck to you.
RE: DMB increase after 1st pay b golden, They used Equifax when I applied. Not sure if they used the other two. According to their web site, approval is guaranteed. However, if your credit is really bad, expect a small limit ($250).
RE: DMB increase after 1st pay I have really, really, really bad credit. I have tons of charge offs though no recent ones. I have been turned down by Capital One and some of the others but was approved by Orchard with a $300 limit and DMB for $500.
RE: DMB increase after 1st pay Seeing as how "anonymous" singled you out, I went back to this thread to see what the 'fuss' was about. After re-reading the thread I cannot help but conclude you were 'jerked around' and are totally justified in your response. Based on what was both implicitly stated on the "pre-approved" application (meaning they are legally obligated) and further confirmed with the 'same words' by the rep, one can only come to the conclusion that this is what you were promised, led to believe and moreover what you SHOULD have received. Sounds very clear-cut to me. Now I don't know about Renae and Mike, but even "the old granny" Doris K would deem 'instantly' as well instantly, and according to any of the dictionaries I looked under certainly no longer than the same month. So basically you have every right to feel "minimized", and all because others have not received service that was promised to them doesn't make it right and doesn't make you an impatient fool for excepting it. The fact that "anonymous" blamed the victim rather than the perpetrator says all we need to know about him. Now as far your expectation of "Amex-style" customer service, sorry Keith, these are sub sub-prime companies, most of which are little better than 'boiler-rooms' who call themselves a bank, typically in these companies turnover is great and morale is low and the sooner you can finish your dealings with them and move on to a more HONEST company the better off you will be.
RE: DMB increase after 1st pay Thanks and I agree! I think you're right the morale must be low at these so-called banks. I will be glad when my credit gets better. By the way, why did you call me "Keith"?
RE: DMB increase after 1st pay Thats great, sounds like your on the right track After you have had those accounts for awhile you should be able to get other cards too. It's a long road back, I know as my son is currently going through it too. But hopefully in a year he'll be able to have a higher score , and qualify for some lower rate cards.
RE: DMB increase after 1st pay Steven Z, Never mind. I see why you called me Keith! I never noticed until now! Oh boy! I will forever be remembered as the infamous "Kool". I guess I'll have to post from a different computer. Will that do it?
