DIRECT MERCHANTS BANK INTEREST RATE went from 7.2% to 16.99% variable....no warnings. ripoff deception Tulsa Oklahoma

My husband received a call with a low-interest offer for this bank. We accepted, and the card is on the way. Thanks to your information, and the input of others, we intend to cancel the card before it is ever activated. We appreciate your willingness to share your troubles and prevent others from suffering as well.

I to have a Direct Merchants Bank card and had the interest rate jump unexpectly. Customer service told me that it was due to the rather large amount of credit I was using even though I pay all my bills on time.

NO notice of this rate increase was given.

I am not new to this game...
If you receive notice of a change to your account and do not approve of the new terms; you may cancel your card and pay it off under the old terms. I tried to do this but was told I was to late and the new rate would apply. They also advised me to keep the card open so that I might get a better rate later. After a couple of months of trying to get the rate reduced I gave up.

I paid the card off on there website and checked the site the next day to be sure it was gone. I got a bill for interest only shortly thereafter.

Use this company only if you must, but use them with care and expect a lot of phone calls to sell you other services.