- Report: #1236464
Complaint Review: Fingerhut - Saint Cloud Minnesota
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Author Not Confirmed
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Fingerhut
6250 Ridgewood Road Saint Cloud, 56303 Minnesota, USA
Phone:
800-208-2500
Web:
www.fingerhut.com
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Business Rating:
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Fingerhut Fingerhut Temporary Credit Line Increase Saint Cloud Minnesota
I received a letter from Fingerhut a company that I do business with and have an active current account with regarding a temporary credit line increase of $600.00 which makes my credit line $1900.00 with them but I have to make a purchase equal to $600.00 by August 31, 2015 to keep it or I can make a purchase of a lower amount to make the increase permanent. If I spend $600.00 that is more than 30% of the recommended available credit being used if I spend $570.00 they will still reduce the credit limit by $30.00 which would also have an adverse affect on my credit report. If I decide to spend nothing my report will reflect a deduction in credit of $600.00 because I did not make a purchase. I have tried contacting them and I was transferred 6 times I finally asked for a supervisor and I was left on hold for almost 45 minutes and then my call was disconnected and no one even bothered to call me back. I don't believe this type of behavior is ethical. Credit ratings are very important to consumers and have a very large impact on daily life and a company should not be allowed to stipulate a credit increase contingent upon a purchase. I have an excellent pay history with this company, never late, pay more than the minimum and as of 5/2015 I am not carrying a balance and I feel as though I am being penalized for being a good customer. How can a company be allowed to mess around with anyones credit like this especially with an unsolicited offer of additional credit.
2 Updates & Rebuttals
Response to Robert
#2Author of original report
Fri, June 19, 2015
First of all I opened the account to purchase a radio that was only available through bluestem products. My current balance is $0 and I never carry a balance on any of my cards. I never said that I don't have other accounts and it's your opinion that it's a negligible hit to my score. I don't want any hits on my credit at all...how is that wrong. Your response seems less like a consumer and potentially more like someone who may be employed by or represents Fingerhut. I made that purchase and paid it off furthermore I'm familiar with their terms and there is nothing in them that states anything about a temporary line increase contingent upon a purchase....WHICH IS WHAT I"M UPSET ABOUT. I'm not currenlty borrowing any of their money becuase I have a $0 balance. I'm full aware that companies review credit lines on a regular basis but no other company I have credit from offers credit based on me making a purchase. You felt the need to attack my credit worthiness for what purpose? My grandmother has an 812 FICO and she also has a Fingerhut account and has never seen this mysterious temporary credit line increase because she buys things from them all the time as many people do regardless of their credit rating. I know all about chasing the balance due to the financial crisis that occured in 2008 but i'm not a risky borrower that's why they call me an ELITE customer. You are entitled to your assumptions but you can't dictate to another person how they should feel about something that affects them no matter how big or small.
Robert
Irvine,California,
USA
It is their money
#3Consumer Comment
Fri, June 19, 2015
Let me make this plain and simple for you.
Fingerhut(or any creditor) is allowing you to use THEIR money in the form of a credit line. They can raise that credit line if they want to allow you to use more, or they can lower your credit line to allow you to use less. They can even close your account all together without notice or reason. That's right...you could wake up tommorow and they could just say they no longer want you as a customer and close your credit card.
Oh and do you know what the kicker in this is...YOU agreed to it when you opened the account, and it doesn't matter what credit card you go to they all have the same terms. You want a credit card..you play by their rules.
Now, if you are so worried about credit why are you with a "sub-prime" card? If you had that good of a history why can't you get a real credit card with better terms where you don't have to use it only at their site for their higher priced merchandise? Perhaps your credit isn't really that good? As for your credit, if you have a solid credit history having one card(or even a couple) lower or close your acccount may cause a momentary minor dip in your score. But that is only in the extreme short term, with proper credit management the effect is negligable.
