topic Re: Anyone else with a Fingerhut account notice this? in Credit Cards

Anyone else with a Fingerhut account notice this?

ddemari — Tue, 01 Apr 2014 02:39:49 GMT

I opened a Fingerhut account a while back when I was rebuilding credit. After having the account for a year I have received several credit limit increases which the most recent made me want to cancel the card. Telling me I have to spend 800 dollars inorder to keep it, otherwise they are going to take the increase away.

Beside that, I looked at my credit report today and I cant tell if this is showing as a closed account or not? Fingerhut recently changed their system and updated member account numbers. Has anyone else noticed this?

Re: Anyone else with a Fingerhut account notice this?

gdale6 — Tue, 01 Apr 2014 03:14:44 GMT

The temporary increase in the line with a must spend to keep is not new with these people, it is what it is and if you dont want to spend the money to keep the added line that is fine too.

Re: Anyone else with a Fingerhut account notice this?

ddemari — Tue, 01 Apr 2014 03:18:42 GMT

I meant for this image to show up, sorry! regarding the reporting question.

Re: Anyone else with a Fingerhut account notice this?

CreditMagic7 — Tue, 01 Apr 2014 03:29:14 GMT

I just ordered a hand held uniden from them and so far haven't seen any such demands on my account from them to that effect.

Just got a CLI at 6 months right at that day. Issuing demands for customers to "spend" their own pre-selected range is not very wise IMO.

Re: Anyone else with a Fingerhut account notice this?

ddemari — Tue, 01 Apr 2014 03:39:19 GMT

Before this increase, I have received several permanent increases from them. Until recently, I have had nothing bad to say about them. But I would appreciate them not immediately reporting this increase a month before I received this letter.

Re: Anyone else with a Fingerhut account notice this?

seeyouthere — Tue, 01 Apr 2014 04:08:12 GMT

@ddemari wrote:
I opened a Fingerhut account a while back when I was rebuilding credit. After having the account for a year I have received several credit limit increases which the most recent made me want to cancel the card. Telling me I have to spend 800 dollars inorder to keep it, otherwise they are going to take the increase away.

Beside that, I looked at my credit report today and I cant tell if this is showing as a closed account or not? Fingerhut recently changed their system and updated member account numbers. Has anyone else noticed this?

They did this to me, especially when Christmas came up...Dont know if it's temporary or not. Either way, I'm not going to shop there after my last purchase. Price are over done, even when I paid in full. My headset was 20 bucks over retail. Blehhhh

Re: Anyone else with a Fingerhut account notice this?

CreditMagic7 — Tue, 01 Apr 2014 04:47:23 GMT

My recent $99 scanner purchase turned into 123.00 for shipping. I was only willing to eat that cost this once because since i've had this account i only made a 40.00 smallish purchase in over 8 months.

Re: Anyone else with a Fingerhut account notice this?

TiggerDat — Tue, 01 Apr 2014 07:44:56 GMT

Yeah, that sounds kinda fishy to me. I have one of those accounts too, but I have never gotten an increase. Then again I have actually never used the account.

I noticed twice that they stopped reporting the account then started again. In both instances it shows the account closed then reopened. It doesn't show on one of my reports as a new account, it still has all the same history and the original opening date. I don't know about the other reports, because they used only report to one bureau before, now I think they report on two. Before it was just TU and now it is at least shows on my TU and Experian. I noticed this activity on Credit Karma when I updated today.

Re: Anyone else with a Fingerhut account notice this?

JSS3 — Tue, 01 Apr 2014 11:53:28 GMT

I noticed the word temporary CLI in the newsletter so called Fingerhut. They told me it would become permanent after spending the amount of the increase. I then decided to close my account because I didn't want there to be an increase reported followed by a decrease. It would look like AA was taken against me. I called, they closed it with no problems. When I checked my reports, they closed the account with the 400 decrease. Kinda pissed about that. This is a bad policy. One trying to force your hand to make purchases you wouldn't want to make...especially if you have other credit cards. It also punishes you. It's not right to show a CLD on one's reports as if they did something wrong to get the limit slashed. I'd much rather they not report the increase in the first place unless it's permanent.

Re: Anyone else with a Fingerhut account notice this?

indiolatino61 — Tue, 01 Apr 2014 13:05:15 GMT

@ddemari wrote:
I opened a Fingerhut account a while back when I was rebuilding credit. After having the account for a year I have received several credit limit increases which the most recent made me want to cancel the card. Telling me I have to spend 800 dollars inorder to keep it, otherwise they are going to take the increase away.

Beside that, I looked at my credit report today and I cant tell if this is showing as a closed account or not? Fingerhut recently changed their system and updated member account numbers. Has anyone else noticed this?

Fingerhut does this all the time. I just can't imagine anyone needing $800 of Fingerhut stuff...lol.

Re: Anyone else with a Fingerhut account notice this?

Anonymous — Wed, 02 Apr 2014 13:58:56 GMT

I certainly noticed the effect of Fingerhut assigning everyone a new account number. I got an alert on Credit Karma that I had opened a new credit account. This was because Fingerhut changed my account number. The account with old number showed credit line reduced to 0! This caused my transunion score to take a 16 point dive. I am not happy with that, since I'm working so hard to raise my score. I feel like I am playing a game with all of this.

Re: Anyone else with a Fingerhut account notice this?

Reighn9 — Wed, 02 Apr 2014 14:34:09 GMT

Things got worse with Fingerhut when they changed to this current bank. I think it was about 2 years ago now. That's when they started changing account numbers and giving temporary increases that require a purchase to be permanent. You can't find anyone in the credit department to complain to when your score drops after the reported CLD because you didn't buy anything. Before this bank took over the CLI's were always permanent. Customer service also does not understand why you don't want to buy something from them to keep the increase.

Re: Anyone else with a Fingerhut account notice this?

Anonymous — Wed, 02 Apr 2014 21:42:37 GMT

I noticed this morning on credit karma, my credit score dropped 19 points! Do they even know what they're doing to their customers? Seriously bummed now, I am trying to raise my score to buy a house and this just caused a major set back.

Re: Anyone else with a Fingerhut account notice this?

ddemari — Wed, 02 Apr 2014 21:46:42 GMT

I know! My Transunion report is now showing the account back on there but it is not showing any kind of limit, high balence or anything other than payment status.

But on my Experian it is listed as it was before and of course it is not reporting to Equifax. Either way, I am really upset about it, too. My score went from 680 to 654 back to 678.

Re: Anyone else with a Fingerhut account notice this?

seeyouthere — Wed, 02 Apr 2014 23:58:57 GMT

@Anonymous wrote:
I noticed this morning on credit karma, my credit score dropped 19 points! Do they even know what they're doing to their customers? Seriously bummed now, I am trying to raise my score to buy a house and this just caused a major set back.

I dont know about you, but I dont trust credit karma, my score was lower on there then just looking at it directly on the transunion site.