My problem started when I received a notice in my monthly bill that indicated that my interest rate would be increased based on my credit report. It also indicated that I could sign the enclosed notice that I decline the increase and cancel my card.
I did just that. It was a few months later that my statement showed my interest rate had climb to 29.7%. I called about this and ask for an explanation. All they would do is send me a letter explaning the reasons.
When this letter arrived it stated three reasons, one of which stated late payments. I made an appointment with the local credit reporting agency that DMB said they used. At this appointment the service representative read the letter from DMB and could not find one of the three reasons listed. She said she could not understand what their reasons were.in fact she said my credit was in good standing with all accounts.
I wanted to file a complaint against DMB for making false statements about my credit. The answer, They did not know how to respond about this. I called DMB again and ask for a detailed explanation and a copy of the credit report that stated the reasons. They declined and said they used the credit report for the month my account was reassesed.
This practice was one of the reason in a lawsuit that was ongoing at that time. I even tried to get in on the class action suit, but could not.
To make matters worse, a few months later I checked my credit report and found that DMB reported that I was making payments on time as agreed.
Another interesting thing happened. I was told I could not use the website to make payments because my account had been closed.
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