Hooters Change in Terms

[timber]

I agree... Merrick got the boot from last month after changing their terms. I had a 5K Hooters MC with no AF changed to $48 fee charged $4 per month and a 3K Merrick Visa that did have a $36 AF that changed to $48. Both cards had $0 balance when I closed. I went on a mini app spree with a local CU (Kemba), Nationwide Bank and Addison Ave FCU. Got 30K in replacement CL approved (Kemba & Nationwide) and another 10K pending.

It may be worth it to keep open and pay the $4 per month if it will impact your utilization or AAoA.

[creditwherecreditisdue]

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@timber wrote:

I agree... Merrick got the boot from last month after changing their terms. I had a 5K Hooters MC with no AF changed to $48 fee charged $4 per month and a 3K Merrick Visa that did have a $36 AF that changed to $48. Both cards had $0 balance when I closed. I went on a mini app spree with a local CU (Kemba), Nationwide Bank and Addison Ave FCU. Got 30K in replacement CL approved (Kemba & Nationwide) and another 10K pending.

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Great job! 

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It may be worth it to keep open and pay the $4 per month if it will impact your utilization or AAoA.

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Perhaps. Very dependent on individual circumstances. Merrick showed signs of decency for a brief while and then this major turn for the worse. They clearly want to be subprime. Best to move up and out of this card ASAP.

[ChesterPDexter]

I can't vouch for whether this will apply to any of you or whether it applies to the Hooters card (in my case and my husbands, they have not and will not charge the annual fee, which is the only reason I am keeping mine - it costs me nothing as long as I PIF.)

But back on topic, I wanted to tell you how my regular Merrick card words regarding the annual fee.  I have had the card since 2004 and at first it was a no-annual-fee card.  Sometime along the way, though, they started billing me an annual fee in the form of $1 per month.  But strangely, this is only billed when I have a balance.

When I have no balance, it shows up on the bill as $1 annual fee billed monthly, and then adjustment to account:   Refund of $1 annual fee.

So I don't incur a fee every month.  If there is no activity on the account and I have no balance, there is no $1 fee that month.

Again, I have no idea if the Merrick Hooters card is the same.

[Woolfman]

i keep seeing more and more people talking about the AF and i wish now i could find my notice because it bothers me to think that i could have missed them telling me there was going to be an AF . I sure hope they dont get crazy on me. Ill can them in a second if they charge me an AF . My card is only 1k limit and i have used it a good bit . from running a balance of 400 to now its in my collect dust area of the wallet. .

[Anonymous]

I've had them since '04 and used to use them alot.  now it's a hassle to remember to use it now and then.  they haven't given me a cli since i stopped the heavy use.  they must like that.

Anyway I closed them.  Do not want to have a/f all of a sudden.  No thanks for using Merrick or anything .  They  just closed it for me.

[irishchk23]

Hooters was my highest credit limit at $700 and I think I had it just about a year. I would have kept it if the AF was only billed once annually, but I'm not going to keep a card that is going to charge me $4 every month and a very high APR, I didn't really even use the card much and alway PIF. I apped for an HSBC card and got a $5,500 CL with no AF so bye bye Hooters! Closed it last week! It was always comical though when as a female I pulled out the Hooters card to use at the supermarket