Anyone else with a Fingerhut account notice this?

ddemari · ‎03-31-2014

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?

gdale6 · ‎03-31-2014

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.

ddemari · ‎03-31-2014

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

CreditMagic7 · ‎03-31-2014

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.

ddemari · ‎03-31-2014

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.

seeyouthere · ‎03-31-2014

@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

CreditMagic7 · ‎03-31-2014

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.

TiggerDat · ‎04-01-2014

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.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.

JSS3 · ‎04-01-2014

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.

indiolatino61 · ‎04-01-2014

@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.