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My Fingerhut graduation

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Anonymous
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My Fingerhut graduation

Okay guys. Like my previous post says I started a Fingerhut account to help me rebuild my credit. It was actually my first trade line. I was approved for the fresh start account at 200 dollars. I used the entire 200 and paid my 30 dollar down payment. I read all the early graduation stories and decided not to pay off early in hopes of getting a higher credit limit at graduation. Well I paid my 5th payment last week and it brought my account balance to zero. I paid the balance off on time every time for 5 months. I immediately called customer service to see if I graduated they informed me it takes up to 14 days to get reviewed. So for the last week I've been logging into my account daily and even 3 or 4 times a day lol.. Well I just checked again and I have a message or sort of as banner saying congratulations your credit is available. And under it is available credit of $250 ...I havn't received any emails or any contact from Fingerhut letting me know I've graduated and even though I did follow through with the full term of the fresh start account I still only got $250 limit. I'm not complaining just letting you guys who are thinking about startng the fresh start program that maybe doing the early pay off is a better idea. However my credit file could of hurt me..I have 22 new inquiries across all 3 reports . But I had 6 collections removed during the 5 months and added a two credit cards. My scores are at high end of 500 and low side of 6.... But hey I graduated..I think
8 REPLIES 8
Anonymous
Not applicable

Re: My Fingerhut graduation

Congrats on yours. My husband got his fingerhut started with $200 back in August 2016 and paid it off last January 2017. They upgraded his fingerhut account and increased his CL to $500.

Message 2 of 9
CountryLivin
Valued Contributor

Re: My Fingerhut graduation

Congratulations!

Message 3 of 9
joltdude
Senior Contributor

Re: My Fingerhut graduation


@Anonymous wrote:
Okay guys. Like my previous post says I started a Fingerhut account to help me rebuild my credit. It was actually my first trade line. I was approved for the fresh start account at 200 dollars. I used the entire 200 and paid my 30 dollar down payment. I read all the early graduation stories and decided not to pay off early in hopes of getting a higher credit limit at graduation. Well I paid my 5th payment last week and it brought my account balance to zero. I paid the balance off on time every time for 5 months. I immediately called customer service to see if I graduated they informed me it takes up to 14 days to get reviewed. So for the last week I've been logging into my account daily and even 3 or 4 times a day lol.. Well I just checked again and I have a message or sort of as banner saying congratulations your credit is available. And under it is available credit of $250 ...I havn't received any emails or any contact from Fingerhut letting me know I've graduated and even though I did follow through with the full term of the fresh start account I still only got $250 limit. I'm not complaining just letting you guys who are thinking about startng the fresh start program that maybe doing the early pay off is a better idea. However my credit file could of hurt me..I have 22 new inquiries across all 3 reports . But I had 6 collections removed during the 5 months and added a two credit cards. My scores are at high end of 500 and low side of 6.... But hey I graduated..I think

 

Congrats on the graduation... Keep looking at your profile and thinking... How much of that credit is actually usable at real stores? 

Do you have any active loans reporting on your credit? Something like a Secured Share Loan? (Alliant secured share loan is ideal for this.. see other posts)

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secure-technique/td-p/4506756

 

That Citi card looks like the best in the deck for regular use.... 

Wondering if you wait a little bit and can grab another secured card from a more mainstream/prime bank.... 

 

Seeing both Credit None and Open Sky just makes me cringe.... But you gotta do what you gotta do... 

Perhaps considering joining NFCU through one of the options (search the forum)... might open doors.... Still think discover might be an option for a secured card if you can get all your scores in the low 600s esp if you havent bruned them...but id wait 3 mos or more before doing so.. Just direct app for secured if you go that route..

 

 

 

 

 

 

Message 4 of 9
Anonymous
Not applicable

Re: My Fingerhut graduation

I already have the discover secured card. And I have cancelled the credit one card, actually I just never activated it. I do have 3 active installment loans reporting a car loan a flexshopper account and a Kmart lease for some furniture. I applied for a nasa credit union account and was denied.i will look into the secured loan. My scores are in low 6's I just hadn't updated my signature.
Message 5 of 9
Anonymous
Not applicable

Re: My Fingerhut graduation

Congratulations Fingerhut treated me well during my rebuild paying early can only help things
Message 6 of 9
Anonymous
Not applicable

Re: My Fingerhut graduation

You should receive a card in the mail now that you've went to a normal advantage account...

If I'm not mistaken Fingerhut called me about it as well...

Now you'll get lovely letters monthly telling you how great you are an that you have credit available unless you charge up the whole $250....

Mine graduated early, an they started me at $250 as well.( It may be common practice for them so they can see what you'll do with the limit before they give more, who knows) A month or so later they upped me to $550... Now at a year later I have $1,250 in credit with them. So don't fret.

You get your Fico 08 free it's Equifax or Experian I can't remember which, it updates monthly ish, right in your online fingerhut account...
Message 7 of 9
Anonymous
Not applicable

Re: My Fingerhut graduation

Congrats!! It sounds like your good choices have started to pay off. Its so good to see success storys.

Message 8 of 9
Anonymous
Not applicable

Re: My Fingerhut graduation

That's great to hear! I am just wondering whether Flexshopper reports to the credit bureaus. You seem to have an account with them, so I thought you could help me out. Cat Happy

Message 9 of 9
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