Wanted to close Hooters, Guess what I found out?

[AMISLANDER]

I wanted to drop my Hooters Card, as it's high interest & has an annual. I have two other cards, lowere int & no fee.

I called to find out my exact anniversary date ( I got card last October, THE FIRST CC ever in 5 years...) and they tell me:

the annual fee is included, as a PER MONTHLY Charge of $6 something ($75 annual fee). Imagine my surprise!

Ok...so I owe $400 on it, which will be paid off in two months. After that, I can cancel, Right????

[Minnymouth]

No reason WHY you can't cancel the card as long as you don't owe them anything................

What did they say??

[SinkingFast]

Might call again and ask for sure, Amis.

That sounds a bit odd.

Many of the higher fee card offers we've gotten have a "Sign Up" fee, an "Annual" fee, AND a monthly billing charge of $6-$10/mo.

So be sure that that monthly charge they've been billing you really is a pro ration of the "Annual Fee".

[CindyLou]

Hooters charges you your annual fee up front the first year. On your first anniversary your annual fee then becomes split into 12 equal monthly payments. You are not allowed to cancel the card as long as you have a ANY balance. If you want to cancel the card you are required to pay the remaining amount of the annual that you have not paid for the rest of the year before you cancel. Also, they will not let you pay the annual fee in advance. (tried that). I was a little irritated because I do not have a balance and do not use my hooters card and did not want to forget to pay the $4.00 per month, but I did not want to close the account b/c I has a $2500 credit limit.

So I set it up for auto debit. They have weird rules. And get this. My husband doesn't even have an annual fee and never has. The other thing is THEY WILL NOT budge on the annual fee. Period. They have a policy to NEVER change the fee. They told me I could close my account and reapply. Oh well.