topic Re: Fingerhut CLI in Credit Cards

Fingerhut CLI

Anonymous — Mon, 31 Oct 2016 17:41:03 GMT

I have had my fingerhut account since August of 2016. I have had two statements and one that will be cut tomorrow. I have made two purchases, paid well over the minimum payment and payments were received at least two weeks before its due date. When should I expect a CLI? I know that it is a systematic thing, so I'm wondering when others got theres? It is the regular revolving account and is now at a $300 limit where it started. Thanks!

Re: Fingerhut CLI

Anonymous — Mon, 31 Oct 2016 17:44:12 GMT

Definitely YEMV on this one. It took me over a year to get a CLI on mine, others report getting them in the first several months.

Re: Fingerhut CLI

Anonymous — Mon, 31 Oct 2016 18:08:08 GMT

Needless to say that p*sses me off. But oh well, I've read about different CLI situations with the Cap 1 cards as well. Just a waiting game I guess.

Re: Fingerhut CLI

geekmama — Mon, 31 Oct 2016 18:19:19 GMT

I opened my account in July, with a $400 credit limit and they gave me a $200 increase today.

Re: Fingerhut CLI

Anonymous — Mon, 31 Oct 2016 18:25:26 GMT

That's awesome! Did you just complete the credit steps program? I was all set for that increase buy missed a payment by 7 days and had that increase delayed.

Re: Fingerhut CLI

happypill — Mon, 31 Oct 2016 18:42:48 GMT

@Anonymous wrote:
That's awesome! Did you just complete the credit steps program? I was all set for that increase buy missed a payment by 7 days and had that increase delayed.

I just want to make a general comment. Accounts with Fingerhut, low-limit store cards and the like are a necessary evil to those rebuilding. Most folks who frequent this board have had credit challenges at one point or another, so everyone understands that there are different stages to a rebuild. But whatever you do during your rebuild, never, ever, ever, ever, miss (or be late) a payment. Not only will it torpedo your rebuild, but it will trigger all sorts of nasty things that are particularly bad on rebuilder accounts (things like penatly APR and eliminating grace periods and "interest free" periods).

Part of everyone's credit profile is their ability to pay, but another part is flexiing those muscles that allow you to pay on time. Before worrying about CLI's (especially with Fingerhut), make sure you've developed your awareness in making payments on time. It's all part of the credit recovery process.

Re: Fingerhut CLI

AverageJoesCredit — Mon, 31 Oct 2016 18:51:17 GMT

+100 Happypill!. Making on time payments is most important thing we can do and can control. We can strive to do all we can to get clis and such but when you miss a payment , unfortunately it will look bad in the eyes of our creditors, especially if we are rebuilding and trying to restablish good credit. You will probably still get a cli eventually OP but if you were late 7 days, expect that to have an adverse affect on them giving an increase. Best of luck as you rebuild

Re: Fingerhut CLI

geekmama — Mon, 31 Oct 2016 19:00:09 GMT

I have the regular card, not the Fresh Start.

I have made one $51.00 purchase and paid it off in two payments. One before the statement cut and the second before the due date. I haven't purchased anything else and I don't plan to.

Re: Fingerhut CLI

Anonymous — Mon, 31 Oct 2016 19:07:22 GMT

Thanks for the input, but I was under the impression that the worst thing to happen would be a for a 30, 60 or 90 late to report to the bureaus, not a 7 day late payment which to my knowledge doesnt get reported. My account is still showing in good standing and on time, so I'm remaining hopeful, may not receive an CLI anytime soon, but I'm pretty well versed on how important making these payments on time is.This was just a one off situation.

Re: Fingerhut CLI

Anonymous — Mon, 31 Oct 2016 19:09:03 GMT

The late payment was made to Cap 1 not Fingerhut, the creditor in which the OPwas referring to.

Re: Fingerhut CLI

rmduhon — Mon, 31 Oct 2016 19:52:49 GMT

A 7 day late won't be reported, but will damage your standing with that particular creditor. Because of the late it you might not get a CLI, or even potentially get a CLD.