FingerHut Credit Card

[jayrock24]

did u get a chance to call fingerhut

[jayrock24]

call back and hope u get a more understanding csr I'm sure they are upset as my family all has closed and requested a letter of explanation be mail to them as I did

[jayrock24]

when my letter comes I will keep you posted as to my result . I'm gonna send it to all 3 and hope they delete it as the rep ms Sheela said....

[RootDet]

A friend got converted, how do they get a cli from fingerhut? i wonder if they have to wait 6 months now. 

[dvond]

DIsappointed I didn't cancel as soon as I recieved the email. New changes are just hitting my reports now - new account and the closure of the old line through Webbank. All scores have taken a hit from -3 to -10. Old account closure reason (Equifax) is listed as following which I perceive as a neg:

Descriptor 1: Closed or paid account/zero balance

Descriptor 2: Charge

Descriptor 3: Account closed due to inactivity

I think I am going to close the new account - their prices and shipping are exhorbitant and no sense keeping it as I only had it increase AOA. Bummed I have to take the inactivity closure though...I should have known better.

[Mltoys123]

I have had a changeover like this before but the new creditor had just transferred the balance to them and kept all account info with them.

[Borealis]

I cancelled my Fingerhut Advantage card on March 29, and received a letter about 10 days later confirming it. Then I went on vacation and came back to find that it was not only still open, but the Fingerhut Fetti card had been activated as well, against my express wishes. I called again and this time they really closed it (Advantage), and immediately reported it to the CRAs as closed in good standing by me. I was assured that the Fetti would catch up but it did not. A third call to a rep an echoey chamber filled with small dogs a galaxy away got me pretty much nowhere. There were some equally frustrating emails in there somewhere also. The Fetti still shows as an open line of credit on their website but it has not yet reported to the CRAs. I'm hoping it all just clears out after my next statement, but I won't be holding my breath! Good luck, MF'ers.

[nwa479]

Maybe I got lucky on this one.  No issues so far.  I closed the account April 1st.  Asked them to send me a confirmation that it was closed.  A letter was sent to my house.  

On the credit report as of April 20th Equifax noted it was closed at consumer request.  On the 22nd Trans Union noted a decrease in my overall retail card credit limit for the amount I had with Fingerhut.  Still no word from Experian.  Hoping they get it right and don't show Fetti opening.  I hadn't bought anything on Fingerhut in two years anyway.  

[RealEstateGuy89]

My Fingerhut account was 11+ years old when I called and canceled my account back when I read that this was going to go down. First they had lowered my credit limit from $4700 to $1500 back in December/January which I thought was really odd. I told the csr that I didn't want the new account that it was being switched to but she said I didn't need to worry about that since I closed my account. 

Yesterday, I received a notification from Experian congratulating me because I had a new account reporting on my credit reports. I have decided not to call them until Monday because I'm madder than hell about it and I want to be calm when I speak to them about it. 

I also don't think it's right that a lender can do this simply by sending an email. I'd rather they close any account that I have and ask me to open a new one with them. Is this type of thing common?  

Sure has been a weird month for my credit accounts. Just when I have gotten things to a good point and I thought it was smooth sailing from here on out... leave it to Fingerhut and Comenity to mix things up.

[Iusedtolurk]

First I am going to say a lot of people who start rebuilding start with accounts easy to get like Secured cards and accounts like Fingerhut.

These accounts get you started on your rebuild. I myself was going to get a Fingerhut but went with their sister card from Gettington which closed down about 2 years after I got it with a 1600 dollar credit line. (Ok no big deal it helped in the beginning and positive tradeline for possibly 10 years).

So glad I didn't go with Fingerhut because in the last few weeks anybody with a Fingerhut account woke up to that particular account closed and discovered a new account was opened in its place and reflected on their credit reports. With info like...

New Accounts

You've opened 1 new account recently. It'll show up under "New Accounts" for two years.

Saw a number of people posting about this across the internet and how it negatively dropped their scores. One guy saying how his mortgage scores dropped due to the NEW ACCOUNT while he is in Mortgage applying mode.

I oversee my cousins credit (got him from low 400s to middle 600s in a year and a half) and noticed it was a change coming to his Fingerhut account due to an email sent out stating:

We're writing to let you know that starting April 12, 2022, your Fingerhut Advantage credit account issued by WebBank can no longer be used for purchases at Fingerhut. This is necessary because our agreement with our current financing partner is ending. This is a business formality, it's not because of anything you did.

We'll set up your new Fingerhut Fetti credit account issued by WebBank and update your My Account page with your new credit account number* automatically.

I was under the impression it would be like other accounts when you get a account number change but the Account stays the same so no biggie.

But NOOOO they reported the original account Closed and a NEW ACCOUNT opened.

If I had seen some NEW ACCOUNT on my credit reports I would have been quite upset to say the least...

*I currently have ZERO Inquires on my Credit Reports and No New Accounts in over 2 years.

My cousin didn't take a real big hit but for FICO scores that weigh NEW ACCOUNTS heavily suffered across the board especially peoples Mortgage scores.

As I am contemplating a Mortgage app sometime in the next year I am So Relieved I didn't have a Fingerhut account to tear down my Mortgage scores and penalize me for 2 years.

There should have been some way this company could have done something else or gave people a choice to not accept this NEW ACCOUNT if it was going to damage their scores. Ugly...Messy...Stuff. UGH!

How this could be rectified I have no idea but had it happened to me I would be exhausting all avenues to have it corrected where no damage was done.