I got Hooters Today!

[so-beyond-broke]

Hi Everyone:

Just as I was heading outdoors to my family reunion, I checked my mailbox and there it was a Hooters Mastercard with a $1000 limit 2 weeks out of BK and boy am I surprised. This past Monday, I got a letter from them that they need copies of my documents to verify who I was before continuing with my application. I can deal with the $48 annual fee, but the 29.20% is a bit ridiculous. Does anyone else have that high APR rate with Hooters? If I charge little things and pay off immediately then not a problem still seems like decent terms. It sure sounds better than all the fees First Premeier is charging although they only have a 9.9% APR. I guess I see what they give me. I mailed out a pre-approved application this week.

The Hooters card could come at a better time. My kids need some back to school items and my regular paycheck for the school year won't kick in to September. It's very hard telling 3 teens that you have to wait to I get paid in Sept for things they need now.

sbb

[FilingOnMyOwn]

Yeah the hooters card people (merrick bank) are a little assn9ne. For no apparent reason, you get a wide variety of % rates and credit limits. Normally, the better your credit score, the higher the limit and the lower the % rate. With these people, I think they just roll dice or throw a dart at the dartboard to determine what you 'qualify' for. Regardless of what you get, they have some of the highest % rates in the biz.

[FraggleRock]

I think mine is like 24-26% and a smaller limit than yours.

[annikasaunt]

I agree. I did get one card after BK. It has a $500 limit with ZERO interest for 6 months. That's all I want and all I will have. I will see what the interest rate goes to in 6 months and perhaps close this one to replace it with another better offer. But I will not have more than one credit card. I don't trust myself to do it. Maybe others do, but I am very comfortable now and I never want to be where I was a few months ago ever again! So I advise people to be careful and do what is best for them...just think about the big picture...

[FilingOnMyOwn]

I taught my wife everything she knows or should know about credit, I helped her build her credit to the point where we just got a house, now that she thinks shes god almighty, she got her clothes cc's back and maxed them out in under a week... people never listen, and surely never learn...I see some here out of BK one week, and in a few months are loaded back up with credit credit, and the circle continues...making house/car payments is one thing, but oweing the entire world..that just takes a piece out of your soul, to get out of that grip must be freedom, but the desire for credit never ends as you once again load your soul down with weight...

That was a bit off topic, and really has nothing to do with this thread about the hooters card. You may want to open up a separate thread to discuss irresponsible spenders, rather than to get off topic in this thread or others.

[so-beyond-broke]

CC came in handy yesterday

I am glad that I got my Hooters Card because it came right in time for an emergency. Yesterday my SO who just started working this week, called me to tell me that the car "died" He wasn't sure if it was the battery or not. So luckily we keep jumper cables in the car (first time in the 5 yrs I had the car that we need it). Someone was nice to give a boost and he made it home to meet me at the local auto supply place to replace the battery. We had been so broke with him out of work for 11 months and with me receiving less pay over the summer months, it was nice to be able to charge $72 for the battery. Otherwise I would have had to use what little $$ we had in the house to pay for a battery and have only $50 left to one of us got paid in 2 weeks. That was not an option with 3 kids at home. So thank goodness the car came in the mail on Saturday and I had to use it Wednesday for an emergency which is what a CC should be used for and not a shopping spree especially coming out of BK.

sbb

[zander]

Good for you, sbb.