DMB...They should do better th

Discussion in 'Credit Talk' started by Killer, Jan 11, 2001.

  1. Killer

    Killer Guest

    I have had the $500 limit card from DMB for 7 months. It is secured by a $99 deposit. I called them today to ask that they lower the 24% APR. This has been my APR since I received the card. I was transferred to the department "that handles these matters". Well this department told me that they can't lower the APR on secured cards nor increase the limit without a deposit. They also said upon my anniversary my account would be reviewed for unsecured status. If granted, I can negotiate APR and limit. Well I wasn't happy so the rep gave me $20 credit for maintaining an excellent account. I appreciate the $20 but a lower APR is a better reward for paying on time and never exceeding limit. I asked for the criteria for unsecured conversion and he said the typical stuff including pulling credit report.
  2. Momof3

    Momof3 Well-Known Member

    RE: DMB...They should do bette

    Sorry Killer, geez 20 bucks for being a good customer, that stinks.

  3. Doug

    Doug Well-Known Member

    RE: DMB...They should do bette

    20 bucks for a 7 month customer, pretty good I think.
  4. Sailor

    Sailor Guest

    You'll probably negotiate the

    Then a lower apr at 2 years.

    Good luck
  5. Killer

    Killer Guest

    RE: DMB...They should do bette

    I'd rather have lower APR.
  6. marvin

    marvin Well-Known Member

    do the math

    If you average $200 balance, a %10 interest deduction would net you about $20 a year. $400 balance at 5%, etc... If you are talking a low limit like that it doesn't make much difference. It just sounds better to get the interest lower. These figures don't even include a grace period
  7. Killer

    Killer Guest

    RE: do the math


    I have paid more than $20 in interest since getting this card. In addition, I paid an annual fee along with the $99 deposit. Don't get me wrong, I really appreciate the $20. It offset some of the associated costs but I'd rather have a lower APR!

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