If you have a Hooters card BEWARE

[aces67]

We got one in September. We also have Capital One and a new car loan. We've used the car every month and PAID IT IN FULL every month. Tried to use it today and it's been CLOSED by HOOTERS. Why? Because we have excessive lines of revolving credit.

I'm so freaking mad. How can 2 credit cards and 1 vehicle loan be excessive? I called them on the phone and they aren't budging they said the card is closed b/c we have too many new lines of credit.

[fireworks]

"Excessive" is all relative. I assume that, in their mind, 2 cards and a vehicle are excessive with a 6 month old bankruptcy on your record. Probably it looks to them like you're going right back where you came from and getting in over your head.

[aces67]

IDK. The limit on Cap One is $500 with a balance of zero. The limit on the Hooters was $400 with a balance of zero and the vehicle loan is only for $13K and that's on dh's income of $75 K a year. That seems like nothing to us.

[TroubleinCalif]

IDK. The limit on Cap One is $500 with a balance of zero. The limit on the Hooters was $400 with a balance of zero and the vehicle loan is only for $13K and that's on dh's income of $75 K a year. That seems like nothing to us.

Maybe there is a new game in town where they see that they are not going to make any money on you because you pay it off every month so there for, not going to let you use them in that manner? Maybe a growing trend?
Then again, I just woke up so i may not know what the heck im saying....

[jcregs28]

i too just got my letter in the mail CLOSING my hooters card, and i just opened it in September! Never late, always paid more than minimum. I do have 3 other cards (Credit One, Capital One, Orchard)...but WTF?!

I could see if I had a larger balance on high credit limit card...but i had $300 limit!!! That's just absurd.

[StartingOver08]

I've been reading over several credit boards in the past few days that Barclays Bank, the issuer for Hooters, is rapidly closing down accounts lately even for their long term customers with excellent credit. I wonder if Barclays' is having financial issues or desires a change in their cardholder demographics...

[jcregs28]

I thought Hooters was issued by Merrick Bank?

[StartingOver08]

I thought Hooters was issued by Merrick Bank?

Oops! I made a mistake. You are right.

http://www.financeglobe.com/Finance/card858.php

[Stilltheone]

We had two Hooters accounts which we shut down on our own. Why? We got a letter that each card was going over 30% interest rate...No thanks!

[aces67]

We got another letter from Hooter's yesterday. This one was a response to my phone call asking why the card couldn't be reinstated.

They said they can't reinstate it b/c of our account performance.

Performance? We rarely used it and then paid in full. We never even let interest build up. Maybe that's the problem? They weren't making money off us.

[whipster1]

Very strange. I have used mine for gas here and there, and PIF...no letter yet...

[CCsAreEvil]

Those creditors. They probably meant it's not performing "for them". They are not making enough $$ off your account.

[liz417]

Those creditors. They probably meant it's not performing "for them". They are not making enough $$ off your account.

LOL!! I agree, they aren't making any $$$ off you since you are paying it in full each month....

[Logan]

I opted out for the Hooters card but I did get the calendar

[aces67]

LOL!! I agree, they aren't making any $$$ off you since you are paying it in full each month....

That's what my dh thinks too. He thinks if we were keeping a balance on it and paying them interest then they wouldn't have cancelled it.