topic Re: Does fingerhut Deferral Periods affect your credit score? in Credit Cards

Does fingerhut Deferral Periods affect your credit score?

lyro — Fri, 01 Nov 2013 00:10:57 GMT

Hi,

I have received a fingerhut catalog in the mail and it said no payments until February 2014. I have ordered items in the past so if I place a new order then will it be eligible for the no payments until February 2014 offer? Also if I take this offer then will they report each month on my credit that they received no payments?

Thanks for your help in advance

Re: Does fingerhut Deferral Periods affect your credit score?

coldnmn — Fri, 01 Nov 2013 00:22:06 GMT

It sounds like a targeted offer especially for you but I can't give you 100% yes or no without reading it. It would effect your credit score if you utilization went up and if it is a new account dropping the average age of accounts. Welcome to the forum. Sorry not to be more help hopefully some else can give more advice.

Re: Does fingerhut Deferral Periods affect your credit score?

lyro — Fri, 01 Nov 2013 02:23:48 GMT

Thanks, and I have receive 2 catalogs within the past few months offering this. I just do not want to use it and then it afects my score. Because they said no paymentd until February 2014.

Re: Does fingerhut Deferral Periods affect your credit score?

coldnmn — Fri, 01 Nov 2013 02:30:41 GMT

Go for it If your not applying for anything major for awhile. Just realize the cost compared to the cost in the real world for the prducts. Utilization when reduced disappears on scores with no lasting memory.

Re: Does fingerhut Deferral Periods affect your credit score?

lyro — Fri, 01 Nov 2013 02:33:36 GMT

Thanks for the reply. I am asking because I do not want them to report and for it to affect my credit score in a negative way. If they are have a no payments until February 2014 then will they still report that I missed a payment? or will me score not be affected in a negative way?

Re: Does fingerhut Deferral Periods affect your credit score?

coldnmn — Fri, 01 Nov 2013 02:44:05 GMT

No negative for the no payment till Feb 2014 promotion. But once your payments start in Feb and you miss a payment that would.

Re: Does fingerhut Deferral Periods affect your credit score?

lyro — Fri, 01 Nov 2013 02:46:04 GMT

Oh, ok then, I have not missed one payment yet Also what does it show on your credit report? not the score but the report. Will it state that I am using the promotion?

Re: Does fingerhut Deferral Periods affect your credit score?

coldnmn — Fri, 01 Nov 2013 02:51:38 GMT

I'm sure that the promotion for no payments till Feb is for new purchases. The way your talking now it sounds like you have past purchases. They would not be included and you would still have to make those payments.

Re: Does fingerhut Deferral Periods affect your credit score?

lyro — Fri, 01 Nov 2013 02:55:40 GMT

Yeah, I have past purchases but I am talking about if I were to order something else like today or tomorrow then will I be eligible and after I order then will my new credit balance show on my credit report and will my credit score be affected or will it remain how it is until February?

Re: Does fingerhut Deferral Periods affect your credit score?

coldnmn — Fri, 01 Nov 2013 03:01:01 GMT

Your best advice is to call them without the terms and conditions I can't give you credible advice that you could take to the bank as fact. Sorry!

Re: Does fingerhut Deferral Periods affect your credit score?

lyro — Fri, 01 Nov 2013 03:02:40 GMT

Ok, thank you for your help.