DMB approved me for a 99.00 deposit for a 500.00 credit line. Does anybody have this same deal? How are they on their credit limit increases? And posting payments on time. Thanks
RE: What do you think of Direc I have the same card but only for 2 months. I use my bank's on-line bill pay (DMB does not have on-line bill pay yet) and the payment is posted in 2 days. People who pay by sending a check say that DMB does not post the payment until the check has cleared. The posting date is backdated to the date DMB received the check. So far customer service has been fair but not excellent.
RE: What do you think of Direc I believe their online payment services are now up and running. www.directmerchantsbank.com
RE: What do you think of Direc Their online bill payment is still not available and when you pay by check, it will be put on hold for about 2 weeks after they receive the check. A little note though, any check under $100 will be cleared in about 5 days after sending it. I have used their Online Query numerous time and they have always responded timely and going out of their way to send me the info I was inquiring about. does anyone know about their policy on cledit limit increases?
RE: What do you think of Direc Just out of curiosity...Does this holding of checks cause the payments to be posted after the due date, causing payments to be reported as late pays? I've read posts from people who have said that Direct Merchants Bank does't report to the CRAs, but I am sure that they are reporting my daughter's account with them to Equifax.
RE: What do you think of Direc I've had that card for 6 months now, everything has been excellent except for two things. Unless you tell them not to, they will enroll you in a purchase protection program which is BS. Also, they hold payments for 15 days. But, they do have a halfway decent interest rate. Their rep told me accounts get reviewed after 10 months. If you keep your nose clean, they give you back the deposit and offer you an increase in your credit line. They've been straight as an arrow with me. I have no complaints.
RE: What do you think of Direc They've never done that to me once, and they've had the opportunity all of the six months I've had them.
RE: What do you think of Direc I've had the same deal for about a year now. If you want an increase you have to send more money to your "savings acount". I realy can't complain about their service with the exception of the 15 day hold period on payments. I had a zero balnce due and knew I was going to have a large internet purchase, so I sent in $500.00 in advance so I wouldn't have to deal with it later. Much to my surprise, they received my payment, posted it as an oustanding authorization and my available credit was $0.00!! I called them and was told that this was company policy...period. It appears that they make more money off of people not paying promptly (they like late fees) and holding cash in their bank. Think of how many millions of dollars they could be holding for 2 weeks and getting interest on. I'm sending back the pieces of my card.
RE: What do you think of Direc The positive things about DMB to me is that they posted my payments before my check is clear. The problem is that I have had called them 5 times for request to report my acct to the bureau. They recently sent me a bank official letter stated that they're going to report to the CRA beginning on the end of Aug. They told me my acct. only will be reported to EFX and XPN. They currently do not report "any accts." to TUC. But, I don't know what to believe?
RE: What do you think of Direc Please explain this to me again....... "I sent in $500.00 in advance so I wouldn't have to deal with it later. Much to my surprise, they received my payment, posted it as an oustanding authorization and my available credit was $0.00!! I called them and was told that this was company policy...period." I honestly do not know what that means, Will someone please explain this to me. Thanks
RE: What do you think of Direc That sounds like outright stealing to me. Have you tried getting your money back? When my daughter first applied for her account, she received two letters: one said she was approved for a $500 limit, and the other said she was declined because they allow only one card per household, and their records showed she had already been approved for one of their cards. When she received her next bank statement, she found that she had been charged the $99 savings deposit twice. Apparently, they had duplicated her application. She spent hours on the phone trying to explain this to them, but they just couldn't understand what she was talking about. She was transferred to several departments, but only one seemed to be able to make sense of it, so they asked her to fax copies of both letters, copies of both bank drafts-front and back, and copies of her driver's license and social security card. After she sent all the copies they requested, she went through the same garbage she went through before. No one could make sense of it until finally, a lady in the credit department said she thought she knew the solution and would handle the situation personally. A couple weeks later, my daughter received a check for the $99 from Direct Merchant's Bank, and she deposited it into her checking account. Then she tried to make her first purchase with her Mastercard, and it was declined. When she called customer service to find out why she was declined, she found that the account had been closed. She had to re-explain her situation, and the same lady in the credit department told her she would again deal with it personally, and that the account would be re-opened within 48 hours. This was the case because my daughter was able to make a purchase two days later. My daughter thought the situation was finally dealt with. WRONG! A few days later she received a notice from her bank that Direct Merchants Bank had stopped payment on the $99 check she deposited. The lady in the credit department had screwed it all up again. This time, my daughter felt it was all a lost cause, and decided to absorb the $99 loss rather than have to deal with a bunch of inept idiots once more. Becuase of this fiasco, she's very wary about using the card. I've convinced her to hang onto it for at least a few more months before closing the account.
RE: What do you think of Direc Very strange, when you apply DMB they pull TUC and they don't report to TUC.
RE: What do you think of Direc Has anyone been able to get two cards from this company? I was approved for two, but I don't want to go through the same problems that Doris K's daughter went through. Doris K. wrote: ------------------------------- That sounds like outright stealing to me. Have you tried getting your money back? When my daughter first applied for her account, she received two letters: one said she was approved for a $500 limit, and the other said she was declined because they allow only one card per household, and their records showed she had already been approved for one of their cards. When she received her next bank statement, she found that she had been charged the $99 savings deposit twice. Apparently, they had duplicated her application. She spent hours on the phone trying to explain this to them, but they just couldn't understand what she was talking about. She was transferred to several departments, but only one seemed to be able to make sense of it, so they asked her to fax copies of both letters, copies of both bank drafts-front and back, and copies of her driver's license and social security card. After she sent all the copies they requested, she went through the same garbage she went through ....
RE: What do you think of Direc How far apart did you apply for each one? It says on the disclosures that married couples can apply for their own individual accounts? Has anyone done this and been approved?
RE: What do you think of Direc Sorry this posted in the wrong place. I was responding to spice's post.
RE: What do you think of Direc I have had no problems with this bank at all. I have their Platnium card, all my payments are made through my banks online bill pay service, and they always post with in two days. I've never had any payments held like I've seen here on the board. Everything has been great. My Son also has one of their cards, a gold Mastercard. He has never had any problems either, as he also takes advantage of his banks online bill pay service. Perhaps this is why we don't have any problems ?
RE: What do you think of Direc They ran the 500.00 payment as a charge instead of posting it as a credit. Derick wrote: ------------------------------- Please explain this to me again....... "I sent in $500.00 in advance so I wouldn't have to deal with it later. Much to my surprise, they received my payment, posted it as an oustanding authorization and my available credit was $0.00!! I called them and was told that this was company policy...period." I honestly do not know what that means, Will someone please explain this to me. Thanks
RE: What do you think of Direc I got a pre-approved offer in March and received the card in the same month. Then at the end of August I received another and since I have had no problems with them I sent in the deposit of $99. I have not called them to see if there will be a porblem. I will be doing that tomorrow. I'll let you know what happens.
