How To Survive Direct Merchants Bank Credit Card Debt

Consumers are being plagued by miscellaneous and hidden fees tied to their merchant bank credit cards. Congress has passed laws regulating the fees credit card companies can charge you and requiring them to give you notice before changing the terms or fees on your credit card account.

Instructions

1

Read all of the fine print when submitting a credit card application to Direct Merchants Bank. The following information is good practice for any credit card company.

2

Make a note of the interest rate and fees. With Direct Merchants Bank, sometimes rates will differ according to the type of charge; i.e. cash advances, store or gas purchases.

3

Charge only to the Direct Merchants Bank account when it is absolutely necessary. A good rule is to only charge what you can pay off that month.

4

Pay off the balance at the end of each month. If you're not able to pay the card off every month, at least double the minimum payment requested by the bank.

5

Manage your Direct Merchants Bank credit card account online. Also you may find that a discount rate is available if you pay your bill online.

6

Take advantage of any Direct Merchants Bank protection plans that may be offered. These plans will keep your credit card in good standing if you should lose your income or become temporarily or permanently disabled. This should be done understanding that a small fee may be applied monthly for participation in the plan.