A couple of years ago, I paid about $50.00 to receive a Direct Merchants Bank Mastercard. This was great, because of my bad credit, and a card would help in an emergency. I had a low credit limit, and used the card immediately for auto repairs, but did not max the card. I had inquired about credit insurance, you know if you lose your job or something, you're supposed to be protected for a time. But I never purchased the insurance.
I tried to use the card again at a later date to find the card maxed, and when I called customer service they said the cost of the insurance put me over my balance. So now they are charging me over balance fees every month. I was told they would immediately remove the charge for the insurance from the account, but it took them forever, they kept charging over balance fees.By the time they did take the insurance fee off, the card was still over the balance (from all their fees), and they continued to charge me the extra fees. I called several times, wrote several letters, and was refunded a total of $60.00. I charged under $250 on this card, and think by the time I stopped paying them the account was up over $400.00 because of their scam. If it wasn't for all their manipulations, the card would have been paid off by the time I stopped paying them.
Now this is another bad hit on my credit report, and I couldn't get anyone to help me, the Fair Trade Commission, nobody.
I later worked for a credit collections company, and many of our clients were former Direct Merchant Cardholders who had the same exact experience with this company as I did.
0 comments