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Fingerhut Account Balance

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Anonymous
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Fingerhut Account Balance

I just got approved for a $600 limit for FH. My plan was to use it once, pay it off with a few months, and just let it sit. Is this a good thing, or should I keep a balance on it?

Message 1 of 8
7 REPLIES 7
Anonymous
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Re: Fingerhut Account Balance

I was approved for a $500 cl back in March. Purchased something around $250 and made small payments throughout the month. Was auto increased two months later to $1100. Congrats and good luck!!
Message 2 of 8
Anonymous
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Re: Fingerhut Account Balance

Thanks for the fast reply. Honestly the only concern I have with my credit limit is how it impacts my credit scores. So I'm trying to figure out how to best utilize it so it provide benefit to my overall credit score. Do I need to contiuously have a balance? Does asking for an increase to my credit limit help my credit score?  I'm still learning and I thank you all for the help and knowledge you have been able to provide.

Message 3 of 8
Pway
Valued Contributor

Re: Fingerhut Account Balance


@Anonymous wrote:

Thanks for the fast reply. Honestly the only concern I have with my credit limit is how it impacts my credit scores. So I'm trying to figure out how to best utilize it so it provide benefit to my overall credit score. Do I need to contiuously have a balance? Does asking for an increase to my credit limit help my credit score?  I'm still learning and I thank you all for the help and knowledge you have been able to provide.


I've purchased several things with fingerhut.  It all depends on your credit profile.  They have given me 2 increases since October when the account was opened.  I have grown from 300 to 1400 in a little as 7 months.  It can happen.  I do use this account quite frequently.  I order my Keurig refills from them, and I pay over time.  Fingerhut is good when giving out CLI's.  CLI's helps out with the utilization of the credit profile.  If you don't carry large balances from month to month and allow them to report you should be good. 

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.
Message 4 of 8
Anonymous
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Re: Fingerhut Account Balance

What he said. I just purchased a watch for me and fiancé. Which came to up to $100ish so ill pay a little over the minimum to carry a small balance.
Message 5 of 8
Anonymous
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Re: Fingerhut Account Balance

I went from $300 to $1550. They were fairly generous on CLI's with me the first year but have slowed down since. I really never use that much credit on that card. I've bought a couple items from there in the $100-$200 range (1 item at a time) pay it off in about 4-6 months and buy something else... If you don't keep any balance they don't report. The months between my purchases I have "no data" on my report so if you are looking to use this to rebuild I'd say try to maintain a low balance on this and make more than the minimum so they keep reporting the positiive payment history.

Message 6 of 8
Anonymous
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Re: Fingerhut Account Balance

+4  on myFico alert just by Fingerhut adding my new account. Not much, but I will take it.

Message 7 of 8
Anonymous
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Re: Fingerhut Account Balance

Any little bit helps. Yay!!
Message 8 of 8
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