Report: #249111

Complaint Review: Direct Merchants Bank

  • Submitted: Thu, May 17, 2007
  • Updated: Fri, May 18, 2007
  • Reported By: Cleveland Texas
  • Direct Merchants Bank
    Po Box 21550
    Tulsa, Oklahoma

Direct Merchants Bank - HSBC Card Services Ripoff theft by credit card 3 days early payment not considered payment,29.9 percent interest imposed for late pmt Tulsa Oklahoma

*Consumer Comment: Payment timing

*Consumer Suggestion: You cannot pay too early

*Author of original report: UPDATE

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I made an early payment to my credit card account as I was going to be out of state. When I returned and got my bill it said I didn't make a payment for that month. I called and was told that I needed to take responsibility for my bills and pay them.

I've had this card for years and never had any problem with them until now. Now I have an extra $2000.00 on my account and a payment that I can't afford. I haven't charged anything on this card in over a year because I wanted to get it paid down. Now I will NEVER be able to pay it off in my life-time.

I feel like I'm living a nightmare! Is there anyone that can help??

Cleveland, Texas
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This report was posted on Ripoff Report on 05/17/2007 04:58 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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Updates & Rebuttals


#1 Consumer Comment

Payment timing

AUTHOR: Thomas - (U.S.A.)

Did you send a double payment before your current due date, i.e. you sent one check for sn amount that represented a double payment, which would be applied to that month only?

Or did you stagger two payments, i.e. you sent two seperate mailings so that the second payment was received AFTER your then-current due date? Then when did the CC bank receive/post your 'next-month's' payment? [Sending two checks in one envelope with the second check being postdated might be unwise.]

I have a CC with a payment due date that is 10 days BEFORE the monthly closing date, meaning charges UP TO the monthly closing date will show as due in the very next month. The interesting question is "What happens if I sent a second payment that was posted after the current due date but before the monthly statement closing date?" CC banks list many 'reasons' for imposing their default rates in their T&C just to catch you, but I do not remember their T&C being specific about a second payment in a cycle that is received before the monthly closing date but after the payment due date.

Lung cancer is a serious situation, many times with a poor prognosis. I would consider basing your planned actions on your prognosis. If your prognosis is good then pay the CC. If you can, try to switch your calance to a CC with a 'reasonable' interest rate, i.e. non-default rate, before your credit rating is trashed. The added stress of dealing with bill collectors and so forth could change your good prognosis into a poor prognosis.
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#2 Consumer Suggestion

You cannot pay too early

AUTHOR: Nikki - (U.S.A.)

You cannot pay a credit card too early and have it count for the next billing cycle. Always make sure your new statement has been printed before you make an early payment. I'll bet that payment was posted on your new bill and credited as an additional payment for the month before instead of as a payment towards your new bill.
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#3 Author of original report


AUTHOR: Debra - (U.S.A.)

In my opinion they have stolen my money. Any other credit card company would've sent a statement with 0 due at this time. I don't know if I will pay them anything more at all. Let them get a judgment against me. They can't get much that's for sure. I just don't know what I'm gonna do now. Not eat and send them the money or have food on the table.

I've had lung cancer and I'm still seeing doctors and having tests done. I have LOTS of doctor bills to pay too. I just can't afford this setback with the credit card.
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