Fingerhut MAX CL???

[Charmante]

I'm thinking about opening a Fingerhut account -- for credit building purposes.

What is their MAXIMUM CL (ceiling)?

How often do they give CLI?

Are they SP or HP CLI?

Thank you all!

[Remedios]

No idea on maximum credit line.

CLIs happen, but sometimes that means you need to buy useless, overpriced trinkets to get CLI or keep account opened.

Also, often they will open it as *Fresh start*, meaning your first purchase reports as installment loan, and once paid, it's closed and converted to revolving account. 

This is not something you need, you already have two good cards. 

What you need, based on all your other threads,  is time and patience. 

Dont crash your already fragile length of history with useless accounts. 

Give the ones you have time to age, than apply for accounts you can use, instead of "I'll take what I can". 

[blindambition]

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@Remedios wrote:

No idea on maximum credit line.

CLIs happen, but sometimes that means you need to buy useless, overpriced trinkets to get CLI or keep account opened.

Also, often they will open it as *Fresh start*, meaning your first purchase reports as installment loan, and once paid, it's closed and converted to revolving account. 

This is not something you need, you already have two good cards. 

What you need, based on all your other threads,  is time and patience. 

Dont crash your already fragile length of history with useless accounts. 

Give the ones you have time to age, than apply for accounts you can use, instead of "I'll take what I can". 

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Best advice anyone could give you! Pass on this one. The garden is really pretty this time of year!!

[Charmante]

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@Remedios wrote:

No idea on maximum credit line.

CLIs happen, but sometimes that means you need to buy useless, overpriced trinkets to get CLI or keep account opened.

Also, often they will open it as *Fresh start*, meaning your first purchase reports as installment loan, and once paid, it's closed and converted to revolving account. 

This is not something you need, you already have two good cards. 

What you need, based on all your other threads,  is time and patience. 

Dont crash your already fragile length of history with useless accounts. 

Give the ones you have time to age, than apply for accounts you can use, instead of "I'll take what I can". 

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Actually I only have one. After sending my docs to BECU and all that, I realized they approved me for a $500 SECURED visa... Should I get it?

Is BECU good about Graduating accounts to UNsecured?

[Remedios]

I dont know if BECU graduates, but it's a great CU. That's something you might need to ask them, or someone here may know.

I'd accept it, because in simplest terms,  financial health doesnt revolve only around credit cards. There are other products and services CU offer that may benefit you long term. 

There are good secured cards out there, such as Discover, Citi, US Bank. They all graduate, Discover gives you rewards very early on, citi and us bank ones can be converted to other cards in their portfolio.

Even if you have one card only, waiting 6 months till fico is generated is never a bad idea. You still cannot hurry up time. 

I would recommend you do get a second card. 

[Anonymous]

I'd echo that you'd be better suited finding a secured or unsecured card that better fits your needs. Fingerhut tends to involve a lot of tricket and sales buying--and cli's tend to be based on your buying (mostly things you don't need). 

It might help to know more about what your current "credit building" portfolio looks like. 

[Anonymous]

I have fingerhut that is sitting at $7500 CL and they offered me $2000 CLI more if I make $500 purchase.

Apply and if you are approved, my best advice: If you are approved between $500 to $1000, play it around like buy 1 shoes, bill comes pay it off then next order, make that 2 then next bill comes, pay it off. Next order, order 5 then pay it off.... That where they will see you are using it, pay it off and possible you will get CLI.

I started $500 then 4 months, jumped to $2500 then 7th month, reached $7500, now im sitting at $9500. The MAX I was told is $10,000.

Good luck

[RootDet]

great advice. 

As others have mentioned, FH can be expensive for what they sell, so if you truly don't need it, I would encourage looking for a nice credit union to settle into.