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Almost two weeks ago, I applied for 4 credit cards are was approved for all:
Discover Student Card
Bank of America Student Card
State Farm Student Card
Hooters
I am really regretting getting the Hooters card (and on the fence about the State Farm card) I also have a Ciitbank Student Visa.
What is the best way to handle the Hooters card?
I checked my EQ Fico score a couple of days ago... 16 point drop and TU was a 14 point drop. (I expected the drop, not worried because time will bring my scores back up and I do plan on applying for any new credit) but one of the negative factors was low credit limit. (Hooters) From what I have read, the Hooters card is not one that will grow with me. Another negative factor was that all of my accounts had a zero balance! (banging my head against the wall!)
I would like to get rid of this card but I have read that closing a card is not good.
Any advice on what I should is greatly appreciated!
Thanks Hauling and Hobojon,
No annual fee 14% APR (ouch!) I called Merrick bank when after I found out I was approved and asked for a CLI and was told that I would have to wait 6 months I don't need the card for utilization because I pay my balances in full each month and I do not have any negative marks on credit report.. Currently my utilization is 0% which I recently found out is lowering my credit score! I think I will give it 6 months and see what they offer for a CLI.
Thanks again!
I already activated the card! I wish I had posted before! UUGGGHHH!
doesn't matter- even if you didn't activate would most likely still report to the bureaus.
@Anonymous wrote:I already activated the card! I wish I had posted before! UUGGGHHH!