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Super Contributor
concorduser
Posts: 6,026
Registered: ‎09-18-2007
0

Closed Hooters Card

I called and closed my Hooters MasterCard. They are charging me $3 as AF every month. I just dont feel like paying it. It did help me build my credit and it is time for the card to go. I am loosing $1400 in Available Credit Line. I guess I have to work on getting some CLI's on other cards to make up the drop in the CL.

 

Next month my HSBC MC is coming for renewal with AF. I guess it would be the next card to go. Oh well, I feel bad to close the card, especillay  I remember the day when I got my Hooters card, How happy I was that hooters approved my card when others would not approve me any card.

 

I guess it is all part of growing up in the Credit World and move up in the ladder.

Frequent Contributor
dizbuster
Posts: 289
Registered: ‎12-01-2008
0

Re: Closed Hooters Card

Congrats on moving up the ladder Concorduser. If the replies I've read from you are any indication, you have gained valuable experience in your credit life and are well up the ladder. I do have one question for you. I was denied a Hooters card about two months ago. What were your scores when you were approved? Mine are hovering around the 630 mark on all three, (at least EX was last I looked). Do you think I should try again.
A smooth sea never made a skilled mariner.
7/6/2009 Equ 664 TU 680 (15 and 19 point jump respectively this week, over 100 point increase in 6 months)
Super Contributor
concorduser
Posts: 6,026
Registered: ‎09-18-2007
0

Re: Closed Hooters Card


dizbuster wrote:
Congrats on moving up the ladder Concorduser. If the replies I've read from you are any indication, you have gained valuable experience in your credit life and are well up the ladder. I do have one question for you. I was denied a Hooters card about two months ago. What were your scores when you were approved? Mine are hovering around the 630 mark on all three, (at least EX was last I looked). Do you think I should try again.

 

Why are you looking for Hooters Card. It is very high interest rate and Annual Fees. You can find much better deal than this card. What is your scores like on EQ and TU? If you have less than 3 inq's and scores over 600 you can try for Nordstorm Card. Even if you get the store card they will upgrade the card to Visa to in 6 months. Great CLI's and CSR. You can also try for Cabella's Club Visa Card. If you let us know what all 3 last know scores and baddies we can give you much better suggestions. I would stay away from Hooters if you can help it.
Established Contributor
ChesterPDexter
Posts: 618
Registered: ‎06-18-2007
0

Re: Closed Hooters Card

I just wanted to say that they don't all have annual fees.  My husband and I each have a Hooters card with no annual fee.  The rate is about 15% or 18% (can't remember offhand.)

 

I've heard from others that APRs and credit lines can be negotiated with them.  I believe it, though, if you can't negotiate annual fees with them.  Merrick Bank is very stubborn and strange.

 

My regular Merrick Visa, for example, has a rate of 32%, no annual fee, and they will not lower the rate - I think they said they never would.  They'd rather just lose my business.

 

I keep the card open and at a zero balance, though, because they keep raising my limit (or they did when I kept using it and paying it off) and it costs me nothing to have the card open.

_________________________________________________________
Too many accounts; too many debts; lots of open credit, and lots of utilized credit. Scores somewhere in the 600s - I have no earthly idea exactly what number, but not 700 like it was, briefly.
New Contributor
mamalawery
Posts: 71
Registered: ‎03-22-2007
0

Re: Closed Hooters Card

I just received my hooter's card last month and i don't have an af either. although 18% apr. won't be putting anything except a 10 monthly charge anyway and pif.
***I was an app addict, and I'm not ashamed to say it!***
Frequent Contributor
pazuzu
Posts: 408
Registered: ‎01-14-2009
0

Re: Closed Hooters Card

Suprisingly, I got a hOOters card with no AF.

 

I thought for sure with my BK, I would be gouged.


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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Closed Hooters Card

It sounds like they're mellowing out.

When the Hooters card first came out, there were generous CL's and you could qualify with comparatively low scores. Then they tightened up a lot --I suppose that by then they had reached their target for new cardholders or something --and members started reporting very low CL's and very high AF's.

Maybe the pendulum is starting to swing back again?


Congrats, concord, your "training wheels" cards are becoming unnecessary!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
shalane85
Posts: 286
Registered: ‎06-19-2008
0

Re: Closed Hooters Card

I just my Hooters card in the mail today. My AF is $35 a year and Iwas shocked to see that I was approved since my scores are around 570.
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Super Contributor
concorduser
Posts: 6,026
Registered: ‎09-18-2007
0

Re: Closed Hooters Card


shalane85 wrote:
I just my Hooters card in the mail today. My AF is $35 a year and Iwas shocked to see that I was approved since my scores are around 570.

 

Watch out their interest rates. They are on the pretty much high side.

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