Hooters card (Merrick Bank)

[Intoodeep80]

How many people have been approved post bk with Merrick Banks Hooters credit card?

Im going to be looking for 1 credit card to have post bk (341 meeting is on 1-29-09). I want to rebuild my credit since I surrendered all of my secured interests and have nothing reporting to the credit agenices.

Another question that Im sure wayy overasked but can I apply for the credit card after my 341 or do I have to wait until after my discharge?

[relief13035]

As tempting as it may be to apply before discharge (believe me, the thought has crossed my mind), I think the experts would suggest waiting several months beyond discharge.

Be strong - be patient - you have a whole new debt free life ahead of you.

[Intoodeep80]

Thats all nice and fluffy and pretty but in early March I am being shipped to North Carolina for a week for work. There is no way possible Im going to have enough liquid cash to last me the whole time (flight, hotel, meals, rental car).

Plus I will get reimbursed and having a nice detailed paper trail would be ideal.

[magyar123]

Even if they approve you for a credit card so soon after discharge don't expect much of a limit. The easiest after bankruptcy cards to get are Orchardbank and Householdbank - bith from the HSBC family. They usually start you out with $400 limits, and annual fees which they will immediately slam you with - so your starting limits will result in limit minus the annual fee. And they're real slow in increasing limits.

[coloradomrg]

why can't your company advance you the costs or provide you with a company card?

[monkatom]

I got one from them right out of BK with like a 700 limit.

[carbk]

Applied for a Hooters card and I got one in the mail with a $500 credit line. Then I read that it had a $72 annual fee and my interest rate would be 25%!!! So I called them and I closed it right away. I actually already have 2 credit cards that I got after my bk was discharged. I have capital one and orchard bank. My capital one was 0% apr for the first billing cycles, and is 8.90% now, hsbc is 14.90% apr so why the heck does hooters think I would accept there 25% apr cc?

[AMISLANDER]

Applied for a Hooters card and I got one in the mail with a $500 credit line. Then I read that it had a $72 annual fee and my interest rate would be 25%!!! So I called them and I closed it right away. I actually already have 2 credit cards that I got after my bk was discharged. I have capital one and orchard bank. My capital one was 0% apr for the first billing cycles, and is 8.90% now, hsbc is 14.90% apr so why the heck does hooters think I would accept there 25% apr cc?

Because they are bankruptcy friendly....your rates are not set in stone no matter who you're credit card is with, they can jack your rates anytime, for any reason. Hooter's can get that 25-29% interest because they'll give you a good credit line right off the bat... if you're smart & use it wisely and pay off instead of carry a balance, you don't have to worry about the rate.

[carbk]

Because they are bankruptcy friendly....your rates are not set in stone no matter who you're credit card is with, they can jack your rates anytime, for any reason. Hooter's can get that 25-29% interest because they'll give you a good credit line right off the bat... if you're smart & use it wisely and pay off instead of carry a balance, you don't have to worry about the rate.

yeah I thought about it and I figured if I did keep it, it would definately help rebuild my credit. I ended up cancelling it because the reality is, I kinda don't want to pay the $72 annual fee. And I realize I should have never really applied for it in the first place. I don't need anymore credt cards. Don't want to get in trouble again.

[memphisbk66]

My wife and I are already receiving "preapproved" credit card offers (all the usual banks, Merrick, Providian, First Priemer, Orchard, etc.) with all of the "fees attached to them and we just had our 341 meeting this week (2/9/09). I personally am going to wait months after the discharge as I want to enjoy life without credit card bills for awhile. I still have my car but had to give up my house since I lost my job over a year ago and working a new job making 60% less than my last job.

Whatever is your circumstances, only you can make that decision.

Good luck!