Does Fingerhut ruin your credit profile?

[Anonymous]

I'm rebuilding. My open cards right now are NFCU secured $300, Discover secured $200 and Capital One, unsecured $750. I want to add another easy-to-get-card to increase my available credit. However, I read on another forum that having a card like Fingerhut will make other lenders less likely to approve you in the future. Is this the case? Should I avoid those types of cards altogether? 

[Cowboys4Life]

Avoid Fingerhut like the plague. 

I would focus on building the credit lines with the cards you already have to increase the credit profile and avoid subprime accounts at all costs.

[Brian_Earl_Spilner]

I highly doubt lender's computers are programmed with "If Fingerhut, credit one, or first premier is on report, deny application."

The only time that may matter is during a manual review for something like a Crystal Visa Infinite.

[AverageJoesCredit]

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@Anonymous wrote:

I'm rebuilding. My open cards right now are NFCU secured $300, Discover secured $200 and Capital One, unsecured $750. I want to add another easy-to-get-card to increase my available credit. However, I read on another forum that having a card like Fingerhut will make other lenders less likely to approve you in the future. Is this the case? Should I avoid those types of cards altogether? 

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Fingerhut is just fine to start off with. I still have it on my report and i have a 33k Navy Federal Credit Union cc.  You will be ok

[Anonymous]

Isn't Fingerhut considered a CFA though? 

I would say it's fine if you're just starting out and are unable to get any major Bankcards, and if you do have a fe even id Secured I don't think I'd waste the time on aquiring them. When utilized properly NFCU and Discover will do more good in the short term than Fingerhut. IMO

[Jnbmom]

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@Anonymous wrote:

I'm rebuilding. My open cards right now are NFCU secured $300, Discover secured $200 and Capital One, unsecured $750. I want to add another easy-to-get-card to increase my available credit. However, I read on another forum that having a card like Fingerhut will make other lenders less likely to approve you in the future. Is this the case? Should I avoid those types of cards altogether? 

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You have your 3 cards if you don't have an installment loan I would encourage you to open a SSL. You will then have the optimal profile to starting rebuilding.

I would hard pass on FH you don't need it .

[AverageJoesCredit]

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@Anonymous wrote:

Isn't Fingerhut considered a CFA though? 

I would say it's fine if you're just starting out and are unable to get any major Bankcards, and if you do have a fe even id Secured I don't think I'd waste the time on aquiring them. When utilized properly NFCU and Discover will do more good in the short term than Fingerhut. IMO

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To my knowledge  Fingerhut is not a CFA, and  even if it is, which i doubt, it never prevented me from obtaining credit

[Remedios]

Fingerhut won't ruin any profiles, it's by far better option than some cards out there geared towards rebuilders. 

While you really don't need it now, there wouldn't have been anything wrong with it had you gotten it before 

The only things that ruin profiles are negative items, but even they have shelf life of 7 years (or somewhere there).

If you want to build a profile, focus on payment history and utilization. Those are deal makers. 

Negatives are deal breakers, not the type of accounts you have. 

[Nikita2008]

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@Anonymous wrote:

I'm rebuilding. My open cards right now are NFCU secured $300, Discover secured $200 and Capital One, unsecured $750. I want to add another easy-to-get-card to increase my available credit. However, I read on another forum that having a card like Fingerhut will make other lenders less likely to approve you in the future. Is this the case? Should I avoid those types of cards altogether? 

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I'm not sure lenders care so much about who your accounts are with, so much as how you pay them. I have Fingerhut. I'm still in my rebuild, and I have managed to get unsecured high limits of 9k & 15k from NFCU and Discover. 

All that said, if I had it to do over again I would not take a FH account, the rate is high and even without the high rate everything is ridiculously overpriced. 

[designated_knitter]

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@Anonymous wrote:

I'm rebuilding. My open cards right now are NFCU secured $300, Discover secured $200 and Capital One, unsecured $750. I want to add another easy-to-get-card to increase my available credit. However, I read on another forum that having a card like Fingerhut will make other lenders less likely to approve you in the future. Is this the case? Should I avoid those types of cards altogether? 

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Don't even think about Fingerhut since you have Navy.

use Navy and Discover exclusively, maxing out and PIF so a zero balance reports each and every month.  If you have to do the multiple times per month, so much the better.

@91/3, apply for a second Navy card.  assuming that is approved, you'll probably get a 5k SL.  

Keep working those secured cards for the next 3-4 months.  Once th3 Discover graduates, then apply for your 3rd navy card and you'll probably get 15-25k SL.  Then ask for CLI On second Navy card.  Also, by then, your navy secured will probably be close to graduating if it hadn't already.

Then you'll officially be out of sub-prime purgatory.

Good luck!