Complaint Review: Direct Merchant's Bank

In April 2002, I contacted the credit card company and tried to speak with someone in customer service about my financial situation.

I explained to them that I was having a little difficulty with my finances due to being out of work for five months and wondered if there was a way for me to reduce my payments.

My monthly payments were in the range of 250 - 260 dollars per month. when I receive my statement it looked like as if I was making all the high payments and my balance wasn't going anywhere. It seemed like they were continuing to get these high finance charges on purchases that was made months ago.

I thought that when you make a payment for the month, it automatically covers what finance charges were being applied for purchase, cash advances, etc. that month. In this case, I was told that they would continue to charge me for finance charges until the whole balance is paid off.

I thought that was pretty mean. The customer service agent said that it was nothing they could do. I wanted to establish a payment plan where I could reduce my payments, but no interest was shown in doing that.

I have never missed a payment. I've always made my payments on time, and was very shocked from the company's behavior.

Sheila
Clinton, Maryland