Yearly ritual, taking all the years bills and filing away. I opened my DMB statements for the first time, since I just watch and pay online. For the record, I have paid DMB down from $9,600 this year to $1500 and gotten my interested lowered from 19% to 11%, which was my original rate. Looking over a tiny notice that almost fell to the floor, I found out they are now charging a $29 annual fee. This is for a "titanium" card. So, I'm venting for two reasons. One, haven't they made enough off me this year - leave me alone! Two, what makes this official, when I never open my mail and deal online? I'm calling them after this, but I'm just amazed that this is acceptable. Whatever happened to "sign this to revise your terms"?
DanS, DMB is nearly bankrupt and cannot even afford to offer a prepaid card. This seems like a last ditch effort to put the squeeze on everyone to get a few dollars more. I know its your longest TL and the limit is nice, but they are in trouble and by keeping the card, your going to be in for even more surprises as an act of desperation on the part of DMB.
You don't usually have to sign for a change in terms. The written statement is your "official" notification, even though you pay online. Most of the time, they send a notice, and if you don't decline it, or if you use the card after a certain date, you automatically accept it. Some banks have gone to online statements, you sign up to do everything electronically. Then I assume they'd have to notify you online. Otherwise, the written statement and notice is always considered the official one.
Brad J, thanks for the info. I will past this on to my brother in law. He has a DMB Plat card with a 13k CL, I think he has a small balance and I hope he pays this off fast and cancels it with this info that I am going to give him. I read that DMB was in trouble but nothing of late has been made of it. Best regards, Mirage
Brad, thanks for your tip. They are not my oldest TL, but perhaps oldest legitimately open TL (three years?) and definitely highest CL. If they go down, and then Aspire does, I will once again have picked the perfect trifecta of credit cards to NOT keep during BK. Had I known what I've learned on this board, I would have kept the two Citi cards I had. I called them and they agreed to waive the fee. Also, they offered me a six month 4% rate for purchases in the next six months. I hope they get bought by a decent bank and maybe I can "upgrade" my account. Based on my NextCard experience, I doubt it.
OPT-OUT "IF" you can...time to move on... "IF" you can't OPT-OUT...close the account and be done with it...
George, I would love to dump this account. I have exactly three credit cards since my BK 2.5 years ago. DMB w/$10k CL, Aspire w/$5k CL and Cap1 w/$1.2k CL. Yeah, I've got a five pound bag of subprime, I know. But it's all I can get these days. You can see my FICO scores but BofA, Amex and Chase (I even have a car loan w/chase - cripes!) are not interested in me because of the BK. And no, I did not burn them in the BK. So I'm pretty much going to grimace and bare it.
