Household Bank Credit Card Account Sold
Author: ET
Guest
Posted: Fri Mar 19, 2004 4:54 am
Post subject: Did Household Bank Buy Your Metris/Direct Merchants?
Household Bank has purchased my Direct Merchants (Metris branded) account. Too bad, too, because I just love the serene beach scene on my Metris card. Well, anyway, I wondered if anybody else got an e-mail or letter in the mail saying their DM account was purchased by Household Bank. Also, I already have an existing Household Bank account. Their policy is that a person can only have ONE account with Household. I wonder (a) why they bought my DM account if I already had a HB account, and (b) if they'll combine the two accounts into one -- a move which I prefer. I'd like to combine the two accounts ($400 limit on HB, $500 limit on DM) (18.9% on HB, 21.0% on DM) and just have one account with a $900 limit and the 18.9% interest rate, of course. I'm trying to whittle things down to just one Mastercard and one Visa before I start trying to add a Discover for use at Sam's Club, but I'll only close one account when I get a credit increase on an existing account. (Jeez, why do I ramble so?) Damaeus
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Author: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 714
Location: NJ
Posted: Sat Mar 20, 2004 4:43 am
Have you tried the simple route? Have you called them ans asked to have your two cards combined into one? Most banks will do that in a heart beat. Instead of asking others whether something will work, just go to the source and ask them. Saves a lot of time too.
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Author: ET
Guest
Posted: Sat Mar 20, 2004 9:58 am
Well, the issue wasn't really what to do about it. That was my rambling part. I was basically wondering if anybody else's DM account was bought by Household Bank and if they ever figured out why.
ET
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Author: Guest
Posted: Sun Mar 21, 2004 3:04 pm
ET
1*I'm trying to whittle things down to just one Mastercard and one Visa before I start trying to add a Discover for use at Sam's Club.
2*I'll only close one account when I get a credit increase on an existing account.
1*Careful about doing this. it could lower your credit scores
2*Again this could lower your score and or increase your interest rates . It could also cause you to get stuck with a jacked rate because you don't have another CARDs to BT from.
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Author: Peachkiwi
Joined: 27 Jun 2003
Posts: 39
Posted: Thu Apr 01, 2004 9:25 am
Quote:
Household Bank has purchased my Direct Merchants (Metris branded) account. Too bad, too, because I just love the serene beach scene on my Metris card. Well, anyway, I wondered if anybody else got an e-mail or letter in the mail saying their DM account was purchased by Household Bank.
To answer your question, no. I've had my Direct Merchants Titanium since 1999.
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Author: oldmanmagnet
Guest
Posted: Wed Apr 21, 2004 11:05 am
Post subject: Same situation
I am in the same situation. I found out that Household bought Direct Merchants Bank when I logged on to accountcentralonline.com to pay my DMB bill. I called Household to ask them if they could merge my DMB card with the Household Bank card I already had. They first said that the only thing would change would be ownership, so it would still be a DMB card and I couldn't do it. Next I got mail from Household saying that my DMB card would be replaced by a Household card after March 20th. When April rolled around and I hadn't gotten a card, I called to check. Household didn't have any info. When I called Household after getting the replacement card, the lady who answered told me that she couldn't do merge them, but she could cancel my card. (!) My account had gone into collections (online access was cut off and I did not receive a bill). So I paid the entire balance and told them that I would not be paying the $9.95 late fee, since it was their fault. It looks like they are trying to insist that they cannot merge the accounts, and I don't see why...unless it's the fact that they get twice the opportunities to charge fees when they keep them separate.
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Author: Karen
Guest
Posted: Mon May 10, 2004 10:50 pm
Post subject: Direct Merchants Bank
I recently had my account sold to household bank too but they didn't know they we had an agreement with DM which was they we would agree to pay 90% of our loan and they would drop the remaining 10% (which was a hugh amount of late fees and over limit fees). but anyway we got our bill from household and it was for the remaining balance and we called household and told them what happened so I am not sure what they are going to do but we don't owe them anything DM does. DM is the worst company I have ever done business with and I would not recommend them to anyone.
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Guest
Posted: Fri Mar 19, 2004 4:54 am
Post subject: Did Household Bank Buy Your Metris/Direct Merchants?
Household Bank has purchased my Direct Merchants (Metris branded) account. Too bad, too, because I just love the serene beach scene on my Metris card. Well, anyway, I wondered if anybody else got an e-mail or letter in the mail saying their DM account was purchased by Household Bank. Also, I already have an existing Household Bank account. Their policy is that a person can only have ONE account with Household. I wonder (a) why they bought my DM account if I already had a HB account, and (b) if they'll combine the two accounts into one -- a move which I prefer. I'd like to combine the two accounts ($400 limit on HB, $500 limit on DM) (18.9% on HB, 21.0% on DM) and just have one account with a $900 limit and the 18.9% interest rate, of course. I'm trying to whittle things down to just one Mastercard and one Visa before I start trying to add a Discover for use at Sam's Club, but I'll only close one account when I get a credit increase on an existing account. (Jeez, why do I ramble so?) Damaeus
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Author: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 714
Location: NJ
Posted: Sat Mar 20, 2004 4:43 am
Have you tried the simple route? Have you called them ans asked to have your two cards combined into one? Most banks will do that in a heart beat. Instead of asking others whether something will work, just go to the source and ask them. Saves a lot of time too.
View our latest credit card ratings!
Author: ET
Guest
Posted: Sat Mar 20, 2004 9:58 am
Well, the issue wasn't really what to do about it. That was my rambling part. I was basically wondering if anybody else's DM account was bought by Household Bank and if they ever figured out why.
ET
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Author: Guest
Posted: Sun Mar 21, 2004 3:04 pm
ET
1*I'm trying to whittle things down to just one Mastercard and one Visa before I start trying to add a Discover for use at Sam's Club.
2*I'll only close one account when I get a credit increase on an existing account.
1*Careful about doing this. it could lower your credit scores
2*Again this could lower your score and or increase your interest rates . It could also cause you to get stuck with a jacked rate because you don't have another CARDs to BT from.
View our latest credit card ratings!
Author: Peachkiwi
Joined: 27 Jun 2003
Posts: 39
Posted: Thu Apr 01, 2004 9:25 am
Quote:
Household Bank has purchased my Direct Merchants (Metris branded) account. Too bad, too, because I just love the serene beach scene on my Metris card. Well, anyway, I wondered if anybody else got an e-mail or letter in the mail saying their DM account was purchased by Household Bank.
To answer your question, no. I've had my Direct Merchants Titanium since 1999.
View our latest credit card ratings!
Author: oldmanmagnet
Guest
Posted: Wed Apr 21, 2004 11:05 am
Post subject: Same situation
I am in the same situation. I found out that Household bought Direct Merchants Bank when I logged on to accountcentralonline.com to pay my DMB bill. I called Household to ask them if they could merge my DMB card with the Household Bank card I already had. They first said that the only thing would change would be ownership, so it would still be a DMB card and I couldn't do it. Next I got mail from Household saying that my DMB card would be replaced by a Household card after March 20th. When April rolled around and I hadn't gotten a card, I called to check. Household didn't have any info. When I called Household after getting the replacement card, the lady who answered told me that she couldn't do merge them, but she could cancel my card. (!) My account had gone into collections (online access was cut off and I did not receive a bill). So I paid the entire balance and told them that I would not be paying the $9.95 late fee, since it was their fault. It looks like they are trying to insist that they cannot merge the accounts, and I don't see why...unless it's the fact that they get twice the opportunities to charge fees when they keep them separate.
View our latest credit card ratings!
Author: Karen
Guest
Posted: Mon May 10, 2004 10:50 pm
Post subject: Direct Merchants Bank
I recently had my account sold to household bank too but they didn't know they we had an agreement with DM which was they we would agree to pay 90% of our loan and they would drop the remaining 10% (which was a hugh amount of late fees and over limit fees). but anyway we got our bill from household and it was for the remaining balance and we called household and told them what happened so I am not sure what they are going to do but we don't owe them anything DM does. DM is the worst company I have ever done business with and I would not recommend them to anyone.
View our latest credit card ratings!
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