06-02-2010 06:08 PM
I use my card every month and because its a small limit, I pay and use and pay off a couple times a month.
06-14-2010 09:19 AM
Do you all think that perhaps some people don't receive CLI because they pay in full each month? Paying in full each month is beneficial to us, but for the creditor, it's not. Perhaps a person who uses their card regularly, and makes a little more than their minimum payment each month, without paying in full gets the CLI over someone who pays in full each month. I just received my first card since filing Ch. 7 and that's what I'm going to do. I'm going to charge a couple bills each month and just pay about 75% of what I charged each month. Hopefully after after doing this for a while, it pays off and I get an increase. I'm keeping my fingers crossed. Yes, the company will make a little money off me, but not much.
06-15-2010 10:24 AM
I would never willingly pay them interest charges in the hopes of getting a CLI .They make money from you using the card. Mine has been at 1k since it opened going on two years now . I have used it a bit . had a balance for a short period of time (almost 500) and now i just use it every couple months for a tank of gas and pay it off.
06-21-2010 10:39 AM
Congrats to you, although I am somewhat jealous. I am beginning to lose patience with Hooters. I'm still stuck with a 400.00 CL after 1 year and 4 months. ( Never late / never over limit ). Just got off the phone with Merrick Bank, and they say they won't do customer initiated CLI reviews, and that the credit dept reviews the account "periodically" ( although they wouldn't give me any specific time interval to define "periodically" ).I asked to speak to the credit dept. and their response was that nobody is allowed to speak to the credit dept and they do not accept calls. My FICO s are in the low 700's, my only negative is a 4 yr old cable bill on Equifax ( paid ), and my other 4 revolving accounts are all paid down to 5%, never late , never over limit on any of them, and US bank is giving me 1500 CLI's every 6 months by way of comparison. Honestly, I have given up on these people. I paid the balance down to 13 bucks just to have a reportable balance, and I asked the CSR with Merrick to put a note on my account as follows: " Customer says he will not use his card again until given a CLI". And I won't use it either. I've done everything right from my end of this relationship with Merrick, and if they don't want to reciprocate with a fair CL, then screw them. I won't cancel it now because I want to get a house later this year, and I figure that a positive reporting open account is still a positive reporting open account ( for FICO-building purposes), but after I get the house I am seriously kicking these losers to the curb if they dont have my CLI at at least 2K- which would still be considerably less than several of my other accounts. I definitly wouldnt reccomend Hooters to anybody based on my experience with them.
06-21-2010 10:48 AM
It doesnt help. That's how I use my card. I usually leave a balance on there from month to month and they still won't give me a CLI. I've also tried paying it off in full. It just doesnt matter what you do. My FICOs are all in low 700's , never been late or over my limit on any of my accounts, balances all at 5%, and US Bank/Wells Fargo are at 3500/3800 CLs, but Hooters just stays stuck at 400.00CL for almost a year and a half now. US Bank gives me 1500 CLIs every 6 months now, and Hooters won't even review the account upon customer request. In fact, they won't even allow you to speak to the credit dept. I have given up trying to figure out what I have to do to get a CLI from these people. Apparently they just throw darts blindfolded, because from what I have read, people who are a lot less creditworthy than me are at 2K CL now and get regular increases. Screw Hooters. It is permanently sock drawered until they give me a CLI and I am canceling it after I buy a house here in a few months.
06-21-2010 10:50 AM
The second post above was in reply to mermaids about the idea of leaving a month-to-month balance on there in hopes of getting a CLI, and the the first reply was to the original poster...
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.