Hi folks.... Since my credit repair journey began in May 2001, my TU score has gone from 491 to 629 and I've gotten the following CC's: First Premier (secured) - $225 CL Target Guest - $200 (increased to $500) Next Card (partially secured) - $420 CL Kmart Mastercard - $200 CL Fingerhut - $500 CL (had since Dec 2000) - oldest acct I just got a bank of Hoven card. They purchased an old $1K Providian charge off. This will be paid off next month and will open up a $1k CL. I carry a balance on each of these cards but could have all of them paid off in 2 months. My income is about $66K/year. I'd like to cancel Fingerhut or Nextcard but replace it with something else like a Best Buy or something. My best score is TransUnion (629) and my student loans (about 5 I9's on that report) will be rehabbed in 4 months. Any suggestions regarding what card I could get to replace the Fingerhut? Or since it's the oldest account, should I keep it? Tom
Actually, I didn't. They sent me an offer in the mail saying they would give me a new Visa with a CL = to the old debt. They said as I paid down the balance on the new card, it would free up available credit so I told them I'd have it paid off next month. They also said that the old Providian staus on my CRs would be changed from "Charge-Off" to Paid-in-Full/closed. They wouldn't change remove it completely but said generally it comes off if I disputed it.
I would wait till the R9's are gone. I have about the same score and can't get anything really. Unless you call Cap 1 700.00 limit something. Keep fingerhut for now, it is your oldest account and one of your highest limits.
I would not kill Fingerhut because it is the oldest tradeline and a pretty decent limit. I would consider possibly Orchard or another CapOne. Unfortunately, with those R9s it will be difficult to get anything else right now, unless you're a college student and can try for those cards.
I got the First Premier, Nextcard, and Kmart cards back around December 2000. Fingerhut is older than that and Hoven is a few days old. Target is about 6 months old. Wow, after writing that statement, I realized my accounts are older than I thought! That's a good thing!
Are you sure Fingerhut is reporting your account to the CRA's? I had an account with them over a year and they never reported until my online bill pay screwed up. The payment was ONE day late and they hit me with a late fee. Then they chopped my limit in half and began reporting. I called and complained and was told that was their company policy if you are late. I explained I was ONE day late because the online bill pay had problems. This didn't matter to them. No biggie! Their merchandise is overpriced and the APR is robbery. I paid them off and closed.
Yes. They just started reporting their accounts this past July/August. Their old policy was to not report unless in collections. You're right. Their merchandise is overpriced BUT I've only bought 2 -4 items since I've had the account and that's all that matters because it's reported as a good tradeline.
I just got a Fingerhut card. My scores are as follows Experian- 587 Equifax- 562 TU- 515 (least amount of negatives, most positives...go figure!)
BK does not matter as I have a four year old BK and I got the fingurhut account. It was pretty easy to get.
i'd watch that bank of hoven! i did the same thing with a 2800 providian charge off 3 months ago. it was offered through a ca called the credit store via a bank of hoven visa well now providian has verified the old account twice and the ca is reporting their entry as 1669.00 past due which is the balance on the visa! i just finally got my transunion report and noticed this. so i bought eq and the same thing there but experian has no entry from the ca at all just bank of hoven (paid never late) and providian (charge off 2800 verified 11-04 and 12-14.) i am calling them tomorrow!!
