I have a Direct Merchants Secured card. I've had it for almost 6 months. I gave a $99 savings deposit and was given a $500 limit. The account is in excellent shape. I called to find out if I would be reviewed for a limit increase and this is what the rep said: "You have a secured account and we do not increase the limit on these accounts. In order to get an increase you will need to unsecure the account. To do this, if you think you will qualify, apply for an unsecured account. If you are approved they will not issue a new card but change you to unsecure status, refunding your deposit/interest. Your limit would be based on income and credibility. If the limit is low, because it will be an unsecured card, you can in the future request increases." Has anyone with this card been told this or actually tried this?
RE: DMB Secured...Is This True I have had this card for 10 months, it is in excellent shape, have paid on time and more than minimum the whole time. I didn't even get that option...I received a letter stating the only way I could get an increase was to send additional funds for security! I plan to pay this card out at minimum from now on. I have had a lot better treatment from Providian.
Here are some tips Been there done that; Not with this particular card, but with a twin card. Close the account, and apply for an unsecured card w/ Capital One, Aria Portrait or the Associates. Associates will approve almost anyone for a student card, provided that you state the name of your school. For that matter, "The Slobodan Milosevic school of Human Rights" is deemed a valid school by the associates. I'd have also tried school names pertaining to a certain White House intern during the Clinton administration, but I feel I've made my point (If you haven't heard of Mr. Milosevic, you've been too occupied with credit lately; Turn to CNN World News) Saar
