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New Contributor
Posts: 62
Registered: ‎04-12-2008
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HSBC now reporting as Direct Merchant Bank

Got a SW alert for a new account added. I pulled my report because I did not open a new account. An HSBC had just changed the merchant name to Direct Merchant Bank. Anyone have any idea what up with that?
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: HSBC now reporting as Direct Merchant Bank

Do you have a Discover from HSBC/ DMC? I think that Direct Merchant's is or used to be the group that managed their Discover.

(This wouldn't happen if you have a Discover card that actually comes from Discover.)
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FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: HSBC now reporting as Direct Merchant Bank

[ Edited ]
I have a card from Direct Merchants Bank (HSBC) = MasterCard. I cannot find any reference to this card existing or being offered anywhere on the internet other than HSBC's account central. As far as this outfit is concerned I hate them slightly less than I hate WaMu/Providian. Both are bottom feeding filth that treat customers who have redeemed themselves as far as the rest of the world is concerned like lepers. The CL on my DMB card is stalled at $2,000 and I have been ratejacked to 25.99%. They have never reported me late to any CRA, I have never been over CL and they did increase my CL from $1,000->$1,500->$2,000, but that was now a long time ago and they have raised the APR since the CLI's. I am sure this card is tagged as sub-prime and $2K may be the max CL. It stays in my SD and buys me one lunch every other month. I have better alternatives for my real business.
 
BTW: This card reports on TC as: HSBC BANK



Message Edited by jmbfl on 06-21-2008 12:08 PM
New Contributor
Posts: 62
Registered: ‎04-12-2008
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Re: HSBC now reporting as Direct Merchant Bank

It is American Dream Card. It was reporting on TU as HSBC. EX and EQ were not showing the account at all. Now it shows on all 3 as Direct Merchant Bank and the reference to the HSBC, on TU, is gone. It is only a month, or so, old, so not sure how good or bad it is.
Valued Member
Posts: 75
Registered: ‎08-01-2007
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Re: HSBC now reporting as Direct Merchant Bank

freaking HSBC, changes names so much! I did see before where it was a different name, and that direct merchant bank was what they went by years ago! I hate em, i have two cards with em, both 0 balance, and i won't use em because they just want to up the limit 100, here and there when i call and tell them to close them out!
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Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: HSBC now reporting as Direct Merchant Bank

Hmm. I had the HSBC Discover for a couple months and it reports as HSBC/DMB.
Here we go again...
Frequent Contributor
Posts: 285
Registered: ‎02-26-2008
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Re: HSBC now reporting as Direct Merchant Bank



krash wrote:
freaking HSBC, changes names so much! I did see before where it was a different name, and that direct merchant bank was what they went by years ago!
Actually HSBC bought the Direct Merchants Bank a few years back.  They probably never changed how it reported to the CRA's for those accounts.  But I am positive that HSBC never went by DMB years ago.
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