bmackay62 Posted December 17, 2007 Report Share Posted December 17, 2007 I had a $1900 CL, and the balance was $1894 (never late, never over limit). Had the card for over two years and this was the highest balance yet. This week I got my Christmas Bonus of $500. I paid that, and an addtional $100 for a total of $600 to Hooters. The next day my limit was reduced by $600! My new balance is now my CL, and I have zero credit available. Hooters says it was due to 'high utilization', and indicated that it may drop more as I pay it down and there was no way to tell. Now I am at my credit limit, and any interest on this cycle (mine ends the 22nd)will push me over my 'new' limit resulting in an overlimit fee and a potential rate increase. They asked if I wanted to make an addtional payment (above the $600 that I made Friday) to insure that I do not go over my limit ???? WTF?????At this point at 25% interest I am paying it off over the next few months and giving Hooters the boot. I will never use this card again, nor will I ever spend a cent at a Hooters establishment. Link to comment Share on other sites More sharing options...
Krash Posted December 17, 2007 Report Share Posted December 17, 2007 OMG< I am with you, WTF is the problem? I have heard of other people doing this as well, I wonder if it is just credit challenged people? I just got approved by citibank for a shell plat mc for 6g's I bet they will lower mine once they give it to me, but i will close it! That is crazy I didn't think they reserve the right to lower it only when people are default or breaking the agreement in someway, I think it is a "lets get em back" thing for paying a big amount at one time! Very weird, I have even heard of people on here with LOWER limits and still get the lowered CL, I don't think it is right! Write to the CEO if you have too, that seems to work! Link to comment Share on other sites More sharing options...
direred Posted December 17, 2007 Report Share Posted December 17, 2007 And people weren't listening to me when I said that Merrick Bank sucks.Sorry that happened, but it's just the kind of "class" act they are. Link to comment Share on other sites More sharing options...
Krash Posted December 18, 2007 Report Share Posted December 18, 2007 and to think, i was going to apply with them, thank god i didn't.. I hope citi and hsbc doesn't do that sort of thing Link to comment Share on other sites More sharing options...
ctfudge&bankofC-ville Posted December 18, 2007 Report Share Posted December 18, 2007 Guys, I don't mean to be a party pooper, but I've had my Merrick card since 2003, and it started at $1000 or $1200 and is now $2500. Every time I get a big chunk of money together and pay the card off, they raise the limit. In fact, I think they raise the limit regularly regardless of whether it's paid off/down or not, but I've noticed limit raises especially after I make big payments. I have no idea why people have had different experiences, but I wanted to stick up for Merrick. Not that I particularly like them - but they've never lowered my limit.They did raise my rate, and I don't know when it was, and when I called to ask they acted like they had no idea when or why it was. I asked if it was a "punishment" for paying late once or twice (I didn't go 30 days but paid after the due date a few times, because I remember calling to get them to reverse the late and/or overlimit fees, that can be successful the first time but generally not thereafter, or they'll extend that courtesy once per year or whatever) and they said it was not a punishment. But my rate is about 33.20%!!!!! It never was low, but it didn't start out that high! Link to comment Share on other sites More sharing options...
lovebug5 Posted December 18, 2007 Report Share Posted December 18, 2007 They raised my CL after having the card for 3 months, keeping my utilization under 30% and PIF'ing each statement cycle. Link to comment Share on other sites More sharing options...
Littleman Posted December 18, 2007 Report Share Posted December 18, 2007 I have hooters and never had a problem so far. I do have my card at half utilization. But i keep paying them off. And they just raised my limit this month. I cant say anything bad about them. Sorry that they did that to you Link to comment Share on other sites More sharing options...
isislc Posted December 18, 2007 Report Share Posted December 18, 2007 Hmm, no problem so far, a little over 50% right now but making big payments and they haven't dropped my CL Link to comment Share on other sites More sharing options...
chucksnee Posted December 19, 2007 Report Share Posted December 19, 2007 No problem either, I actually recieved a $3000 (total $4000) increase at activation. Now at 44% utilaziation. 17% intrest Link to comment Share on other sites More sharing options...
razr Posted December 19, 2007 Report Share Posted December 19, 2007 Merrick Bank always treated me well with steady CLIs. However, nothing surprises me with credit card companies. I never heard of them dropping the limit as you pay it off. What bullsh*t! I'd pay that off ASAP and tell them to FOAD.-r Link to comment Share on other sites More sharing options...
pointman Posted December 19, 2007 Report Share Posted December 19, 2007 I'll keep a real close eye on Hooters. I've had it for 3 months with very low util and is now PIF. I plan to use it once or twice for Christmas but don't plan to keep much of a balance with them if any at all... Any idea for the average (months) before the first CLI? Link to comment Share on other sites More sharing options...
mrbrownie99 Posted November 17, 2009 Report Share Posted November 17, 2009 hey guys still trying to repair my credit...i recieved updates from transunion with four diffrent credit files..with diffrent information...some items removed some items updated. i am thinking about a credit repair firm i need help Link to comment Share on other sites More sharing options...
cap1kid Posted November 18, 2009 Report Share Posted November 18, 2009 Not do you bump a two year old thread, but you HIJACK it as well. Kudos! Link to comment Share on other sites More sharing options...
stefdr Posted November 18, 2009 Report Share Posted November 18, 2009 I thought bumping was getting rid of inquiries. Link to comment Share on other sites More sharing options...
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