I have had a Direct Merchants Bank Master Card for three years. I never had a late payment, or was over my limit.
Recently I was part of a job layoff, at which time I contacted Merchants Bank to let them know that I was unemployed. I asked if there was a way that I could miss one payment as I would be back to work in 30 days. They told me "NO" and said that if I missed a payment they would not only charge me a late fee, they would close my account and demand full payment. My credit limit was $3300.00, and there was no way I could pay them a lump sum. So I told them I would try to make the payment.
I was unable to do so, and they charged me a late charge and an interest fee for the payment not received. This put me over my credit limit, so they charged me an over limit fee to go along with canceling my credit card.
My balance after the month was over $3500.00, and is still growing because they won't help in any way. All they want is money, people don't count. They will ruin your credit rating and your financial status to teach you a lesson.
I have other credit cards, and they all worked with me.
The lesson is, Direct Merchants Bank will rip you off. Just give them a chance.
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