I actually have 2 accounts with them. I now have Chase, Bofa, Amer. Exp, actually 200,000 in lines including business. I noticed on my credit report that one of my Direct Merchants Bank account was closed, and said transferred to new lender. I contacted DMB customer service, and got no answers. They said check back on Monday. I told them to just close account. They offered my a 0% rate to stay. The thing is if my account was sold, big deal, because I will probably have new terms. I do not have a balance on either card. The other shows open and nothing different.
IF THEY ARE WILLING TO GIVE 0.00%---TAKE THEM UP ON THE OFFER!!! They WON'T change the TERMS on the existing balance...they could change the terms on FUTURE BT'S or PURCHASES... I would combine 2 into 1 higher credit limit to work with...
My concern it that since my card seems to be transferred to new lender, how can an old lender promise me terms
Re: Re: Should I close DMB account? MAY NOT BE A DONE DEAL (YET)...or like me...the TERMS followed the card to the NEW CARD COMPANY (ON ONE CARD I HAD)---not DMB
Re: Re: Should I close DMB account? I guess it can't hurt to wait until Monday to see what's up. I just had a bad experience with Providian lying to me in July. They told me to just wait a month until next review of my cr and they would offer better terms. Found out later they had already sold my account to scummy Aspire. I don't like to find out my account has been sold by reading it on cr.
Re: Re: Should I close DMB account? I would close it. DMB is in a world of hurt and that 0% is meaningless if it is xferred to a new lender who decides your no longer eligible for 0% and jacks your rate or decides to close the account because your not using it. Since you have so many other cards, why not close a loser card like DMB so it reads 0 balance; closed by consumer and be done with it. Thats my opinion anyways.
Re: Re: Should I close DMB account? I called DMB and they say they have no record of account being sold and 0 % offer is valid. They told me to call their credit reporting department on Monday. Don't know if its a stalling technique or not.
Re: Re: Should I close DMB account? I am currently enjoying 0% from DMB. When I opened my account I told them that 19.99% was too high. I got them to go down to 13.99 fixed and 0% for 6 months from when I first used the card. I waited until November to use the card and I am now enjoying no interest for 6 months. I am keeping a close eye on them, just in case they try to jack me. My only complaint would be that they are not doing any cl increases at this time. I was given a cl of 1200. Better than that 300 toy card from Crap 1 I received when I responded for their pre-approved Platinum card with a cl up tp 3103.00! Even though I have another c/c with a 3400 cl from Crap 1. Also, no annual fee with DMB unlike Crap 1's 29.00 fee.
Re: Re: Should I close DMB account? I have DMB account for more than 3 years. No CL increase since then. $2,500 is current line. I talk to them so many times regarding this CL, and they didn't won't to increase CL. They told me it can't be done manually?! I just can't understand this - 3 years, no late payments, and they still keeping same CL?!!! And very high APR - 21.99?????????
Re: Re: Re: Should I close DMB account? Could you please post this Credit Reporting Department #? Thanks!
Re: Re: Re: Should I close DMB account? Does DMB report to all 3 CRA's? My account has finally shown up on TU, but I am wondering if it will also appear on EXP & EQ. I hope so.
Re: Re: Re: Should I close DMB account? Denny the number they gave me is 1-800-843-4885. That dept is only open M-F 8-6. The second account I have with them was raised in Oct from 4500 to 5700 so I don't know when the no credit limit increases came into effect.
Re: Re: Re: Should I close DMB account? James it does report on all 3 cras. I believe you will see it on the other in the next week or so.
