Many were expecting this. Now it is official.
Your is becoming a starting 6-22-2012.
I wonder if it will show as a new credit line on credit reports. I know I will be happy for it to stay the same and change from saying HOOTERS to MERRICK.
Anyone call to find out that yet? (at work now or I would call myself...)
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I am curious myself - if they are going to close my Hooters card and start over with Merrick, then I am going to close it. I pay $3 a month and only do so for the age of the account, not worth it for a crappy $700 limit if it is going to lower my AAofA.
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i liked the hooters logo! it went with my rack lol
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i do believe when a bank switches a customer from one card to another the history of the old account transfers to the new account even though the old account is closed...please correct me if i am wrong
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that's what I would think too. I was nervous about the part where it says a new account number but I just realized the benefit guide is for a visa card... So it's changing from a mc to a visa which explains new account number.
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I believe your account won't change on your credit reports. It was merrick bank before-the only change is the affiliation. Even when Chase took over my Bankone and First cards,the only lines that changed on my credit reports were the title/bank line
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I'd say the same usually, but the fact that it's changing from a Mastercard to a Visa means a new account number. That's where I would be concerned, if I had a Hooters card.
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If they're doing what CrapOne did with the Orchard/HSBC card buy, it'll still likely have the same number and date. My HSBC account disappeared from my reports, and got replaced with CapOne, same opening dates/payment history though.
Also, same thing happened back when Chase took over Providian.
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When HSBC sent me a new card to prepare for the Cap One takeover, I got a new Cap One entry on my reports and HSBC left the old entry on there, with a balance. I hope this isn't a similar nightmare. I really should just close the Hooter's card, it was good for rebuilding but I've outgrown it.
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At least on my Experian report, HSBC is gone and now I have Cap. One reflecting all Orchard and BBRZ info.