I was a Direct Merchant customer for several years. My credit was less then stellar so my interest rate was 15.9% My account was always current and paid off completely in 2000. I moved to Ohio in June of that year. Not long after I lost my job and was unemployed for over 6 months.in that time I used the card to pay rent. Medical Insurance etc. I was late with payments but they were always made. I was late 3 times and they raised my interest rate to 29.9%. I found out when my bill arrived 01/02.
I tried to negotiate. They were abusive. My balance was $6600.00
and even though I paid $200.00 every month I couldn't get the balance down. As of last month I owe $6200.00 So I have paid over $2000.00 in interest.
I sent letters explaining that I have been on time for a year. I am 61 years old and will need to have my family pay the balance from my death benefits. No one cares and they are abusive
My card came up for renewal and they declined to renew it. When I called today and asked for a lower interest rate they said the card was cancelled and they won't lower the rate. I knew they would find a way to screw me. And they are good at it. They also advised that I go to credit counseling if I want to lower the rate.
Other cards have worked with me and things are working out. Direct Merchants needs to be investigated as to their parctices.
I see lots of complaints but nothing seems to stop them. And this goes on my credit history. Which is a mess already.
Thanks for listening.
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