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Today, I just received a Notice of Change in Terms for my Hooters Mastercard. They are increasing my APR from 16.20 to 21.70. I could care less about the APR change because I PIF. However, the salt to my wound is that now they are charging me an annual fee. I received the card 2 years ago with a 5000CL and no AF. I usually charge about $200/mth on the card and of course PIF. Now they want to charge me an AF of $48 a year that is billed monthly in the amount of $4. I'm debating canceling the card. That is absolutely ridiculous! Has anyone else received this notice?
@Romeoo47 wrote:Today, I just received a Notice of Change in Terms for my Hooters Mastercard. They are increasing my APR from 16.20 to 21.70. I could care less about the APR change because I PIF. However, the salt to my wound is that now they are charging me an annual fee. I received the card 2 years ago with a 5000CL and no AF. I usually charge about $200/mth on the card and of course PIF. Now they want to charge me an AF of $48 a year that is billed monthly in the amount of $4. I'm debating canceling the card. That is absolutely ridiculous! Has anyone else received this notice?
I got my letter from Hooters yesterday, I have exactly the same APR change but there is no mention of an annual fee. Your addition of the annual fee to a previously no annual fee account was in the same letter as the APR change?
I did get an annual fee increase letter on my regular Merrick card however ($3 - $4 per month), It was a seperate letter in a different envelope.
Hi Romeoo, I just re-read my letter a couple hundred times - no AF.
It sounds like we had similar approvals in APR etc. when we initially got the cards. The only difference I can figure out on why they hit yours and not mine is that I put $1,000 + per month through it - I do carry a balance some months but mostly PIF as well.