I had the resources to get myself away from this rip-off company but my experience was so awful, I feel compelled to spread the word. If the endless class action suits against this company and the complaints of other clients aren't enough to sway you, I hope I can.
I am a seasoned credit card vet, with dozens of accounts through the years (and, until recently, pretty perfect credit ratings). So I know for a fact that no other credit card company treats its customers like this one does.
Besides the most obvious infringement — the delayed postings, the bogus late fees, an interest rate of 29.9%, charged daily and raised to that when times are the toughest — I also got to experience Direct Merchants Bank's unbelievable harrassment last summer when I experienced some cash flow problems. The calls begin the morning after your due date, as early as 6 A.M., and continue on through the night. Because they are, by their own admission, on auto-dial, you are called even if you have spoken with an earlier rep and even if you have made arrangements for payments. Truly a Loan Shark strong-arm approach.
Trust me, NO OTHER CARD has ever plagued me this way and thank God I found the money to get rid of them. Still, even when I made a huge payment (thousands of dollars), the next month the calls began again, this time wanting the grand total of $40 on the small balance left. (I would love a tape of my screaming response to THAT call... There were no others). I feel bad for others who are stuck and indeed wish a far bigger class action suit was in action.
Now, of course, since my big payments, I am getting all kinds of friendly offers and solicitation calls from the company for services. The moment I hear they are from Direct Merchants Bank, I laugh and tell the caller he is working for a Loan Shark. No thanks. (And don't buy the rebuttals from employees either; they know the truth and a few have even sued on their own; check the web for details).
The best way to avoid this is to STAY AWAY FROM THIS COMPANY in the first place. Don't be seduced. If you must get credit, stick to the good guys — Chase, Sears VISA, etc. — or you will be sorry. I was!
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