Fingerhut 33% CLD

[pembrokepride]

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@QAMngrGirl wrote:

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@pembrokepride wrote:

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@QAMngrGirl wrote:

If it was only a week ago that you saw a large CLI, then down again this probably does not apply.

For me, I received a letter last November congratulating me on my new TEMPORARY Credit Line Increase. In order to keep it, I had to spend it (Was $1400.00, temp up to $2000.00). I had no intention of spending anywhere near that amount at Fingerhut so I just scrapped the letter and went on with life. They CLD from the temp $2000.00 to $1400.00 again and of course it looked bad (no matter if it is "only" Fingerhut).

Long story short (too late I know). I called and raised holy h*ll that they had the nerve to report a temp CLI and then CLD it. I was given $2500.00 before the call ended.

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I think your on to something. It has been several months at $2100 went from $1400 to $2100 now back to $1400 but like you it was reporting at $2100 so I am going to call also and find out if that is the case and raise hell if it was the case. Funny thing is I get a card from them today with a scratch off 2 free rings worth $50 each and another free gift all for $6.99 shipping makes sense CLD someone and throw then free gifts.

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Honestly it was pure luck I opened the letter since I have no balance and chose paperless statements too, I almost threw it away assuming it was an advert!

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That is exactly what happened. I just called them and asked why I had a CLD of $700 they told me it was a temp CLI. I raised hell and was transferred to the credit department where a nice gentleman put a lot of notes into the system told me it should not have happened and assured me it would be taken care of. I thanked him and said if I don't get at the VERY least what I had before I was closing account(which I won't do just will not use it again). I will give it a few days and see if they take care of it. Thank you for posting this as I would have never known.

[QAMngrGirl]

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@pembrokepride wrote:

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@QAMngrGirl wrote:

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@pembrokepride wrote:

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@QAMngrGirl wrote:

If it was only a week ago that you saw a large CLI, then down again this probably does not apply.

For me, I received a letter last November congratulating me on my new TEMPORARY Credit Line Increase. In order to keep it, I had to spend it (Was $1400.00, temp up to $2000.00). I had no intention of spending anywhere near that amount at Fingerhut so I just scrapped the letter and went on with life. They CLD from the temp $2000.00 to $1400.00 again and of course it looked bad (no matter if it is "only" Fingerhut).

Long story short (too late I know). I called and raised holy h*ll that they had the nerve to report a temp CLI and then CLD it. I was given $2500.00 before the call ended.

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I think your on to something. It has been several months at $2100 went from $1400 to $2100 now back to $1400 but like you it was reporting at $2100 so I am going to call also and find out if that is the case and raise hell if it was the case. Funny thing is I get a card from them today with a scratch off 2 free rings worth $50 each and another free gift all for $6.99 shipping makes sense CLD someone and throw then free gifts.

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Honestly it was pure luck I opened the letter since I have no balance and chose paperless statements too, I almost threw it away assuming it was an advert!

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That is exactly what happened. I just called them and asked why I had a CLD of $700 they told me it was a temp CLI. I raised hell and was transferred to the credit department where a nice gentleman put a lot of notes into the system told me it should not have happened and assured me it would be taken care of. I thanked him and said if I don't get at the VERY least what I had before I was closing account(which I won't do just will not use it again). I will give it a few days and see if they take care of it. Thank you for posting this as I would have never known.

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You are very welcome, I am curious how many other consumers this happened to?

[CreditMagic7]

I just got a 300 CLI at my 6 month point with them. Wouldn't it be odd if they suddenly without warning take that back with change. I'll have to check in on them and see if their making rounds with that action.

[matchu]

Fingerhut does this all the time. The grant you a "temprorary credit line increase" that will only be made permanent if you spend on it. So ridiculous. They're as bad as First Premier. 

[Reighn9]

I have been with Fingerhut off and on for decades and they continually close and reopen my account, but until last summer they always gave me permanent CLIs.  Last summer I received a temp increase of $300 bumping my CL to $1600 with the reuirement of spending that amount to keep the CLI. I called and asked how they could require me to spend money for the CLI. The rep was rude, couldn't understand why I wouldn't want to buy something, wouldn't get me a credit manager or a supervisor. They reported the CLI to the CRAs and in 3 months when they reported the CLD to the CRAs my CS dropped 30 points. All of you are saying "it's just Fingerhut", well they did quite a bit of damage to me. I called again but could not get a supervisor in the right department, and no one seemed to know which department that was. I got the same response when I wrote customer service. I was told they would forward my concern to the right department. I have even sent real letters addressing them to any department I thought could help me but I haven't gotten any answer at all from anyone at Fingerhut. I still don't know which is the right department, but I don't think it was reasonable to drop my score by requiring me to make a purchase I couldn't afford. I still would like to explain this to someone high up in Fingerhut if someone exists.

[SunriseEarth]

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@Reighn9 wrote:

I have been with Fingerhut off and on for decades and they continually close and reopen my account, but until last summer they always gave me permanent CLIs.  Last summer I received a temp increase of $300 bumping my CL to $1600 with the reuirement of spending that amount to keep the CLI. I called and asked how they could require me to spend money for the CLI. The rep was rude, couldn't understand why I wouldn't want to buy something, wouldn't get me a credit manager or a supervisor. They reported the CLI to the CRAs and in 3 months when they reported the CLD to the CRAs my CS dropped 30 points. All of you are saying "it's just Fingerhut", well they did quite a bit of damage to me. I called again but could not get a supervisor in the right department, and no one seemed to know which department that was. I got the same response when I wrote customer service. I was told they would forward my concern to the right department. I have even sent real letters addressing them to any department I thought could help me but I haven't gotten any answer at all from anyone at Fingerhut. I still don't know which is the right department, but I don't think it was reasonable to drop my score by requiring me to make a purchase I couldn't afford. I still would like to explain this to someone high up in Fingerhut if someone exists.

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A $300 drop in CL could have a big effect on a thin file or when you don't have large CLs.  Unfortunately, Fingerhut knows that people who take their credit need credit and aren't easily obtaining it.  This is definitely why it's best to use something like Fingerhut only for as long as necessary and then move on.  

[QAMngrGirl]

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@SunriseEarth wrote:

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@Reighn9 wrote:

I have been with Fingerhut off and on for decades and they continually close and reopen my account, but until last summer they always gave me permanent CLIs.  Last summer I received a temp increase of $300 bumping my CL to $1600 with the reuirement of spending that amount to keep the CLI. I called and asked how they could require me to spend money for the CLI. The rep was rude, couldn't understand why I wouldn't want to buy something, wouldn't get me a credit manager or a supervisor. They reported the CLI to the CRAs and in 3 months when they reported the CLD to the CRAs my CS dropped 30 points. All of you are saying "it's just Fingerhut", well they did quite a bit of damage to me. I called again but could not get a supervisor in the right department, and no one seemed to know which department that was. I got the same response when I wrote customer service. I was told they would forward my concern to the right department. I have even sent real letters addressing them to any department I thought could help me but I haven't gotten any answer at all from anyone at Fingerhut. I still don't know which is the right department, but I don't think it was reasonable to drop my score by requiring me to make a purchase I couldn't afford. I still would like to explain this to someone high up in Fingerhut if someone exists.

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A $300 drop in CL could have a big effect on a thin file or when you don't have large CLs.  Unfortunately, Fingerhut knows that people who take their credit need credit and aren't easily obtaining it.  This is definitely why it's best to use something like Fingerhut only for as long as necessary and then move on.  

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I have only kept mine as long as I have for the age, it was my 2nd line of credit opened when I started rebuilding.

Edited to add: The 2500.00 CL is nice buffer for utlization on occasion

[pembrokepride]

Nobody has contacted me like they said when I raised hell last week. CL still at $1400(-$700 from the temp CLI). I have tried calling the credit department a couple of times today to see what if anything they are going to do about the CLD reported to the credit bureau. I keep getting told that they are having problems connecting people with the credit department today call back in about a hour. If nothing is going to be done no big deal I will never use it again and keep it open for the $1400 CL. I am going to try to have them at least match or better the $2100 it was at. When I talked to them last week they said they would make it right and that it should not have happened also said they have been getting many calls about this. I will update when I contact someone.

[subwaysandwich]

Congrats!

[SunriseEarth]

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@QAMngrGirl wrote:

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@SunriseEarth wrote:

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@Reighn9 wrote:

I have been with Fingerhut off and on for decades and they continually close and reopen my account, but until last summer they always gave me permanent CLIs.  Last summer I received a temp increase of $300 bumping my CL to $1600 with the reuirement of spending that amount to keep the CLI. I called and asked how they could require me to spend money for the CLI. The rep was rude, couldn't understand why I wouldn't want to buy something, wouldn't get me a credit manager or a supervisor. They reported the CLI to the CRAs and in 3 months when they reported the CLD to the CRAs my CS dropped 30 points. All of you are saying "it's just Fingerhut", well they did quite a bit of damage to me. I called again but could not get a supervisor in the right department, and no one seemed to know which department that was. I got the same response when I wrote customer service. I was told they would forward my concern to the right department. I have even sent real letters addressing them to any department I thought could help me but I haven't gotten any answer at all from anyone at Fingerhut. I still don't know which is the right department, but I don't think it was reasonable to drop my score by requiring me to make a purchase I couldn't afford. I still would like to explain this to someone high up in Fingerhut if someone exists.

---

A $300 drop in CL could have a big effect on a thin file or when you don't have large CLs.  Unfortunately, Fingerhut knows that people who take their credit need credit and aren't easily obtaining it.  This is definitely why it's best to use something like Fingerhut only for as long as necessary and then move on.  

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I have only kept mine as long as I have for the age, it was my 2nd line of credit opened when I started rebuilding.

Edited to add: The 2500.00 CL is nice buffer for utlization on occasion

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It'll report for 10 years after being closed, so it wouldn't hit your AAoA.  Good point on UTIL, though.  I think that's why a lot of people have GE store cards and keep getting those CLs to increase.