I have a fingerhut account still reporting on the big 3. I know I that they are not up and running but they are still reporting open/$0 balance. My concern here is the low limit. It is $350.00. I am wondering if it would be more benifical to keep it as is, or get it taken off. It is an old account with an 8 year history. They report all the time but I have NEVER used this card.
I had one of those worthless cards also. Before they closed up, they sent me a statement that showed a limit of $0. I called and was told because of their circumstances, anyone who hasn't ordered has had their limit dropped to zero and if I want to purchase something it needed to be approved. I decided I didn't want to take any chances of them reporting it as closed by credito, so I closed it on the spot. And even tho it is closed, they still update it every month for me also.
The are still reporting a balance for me on my credit, that I know I didn't use.....I have disputed these fools time after time, and it still keeps coming back verified. I have never, order anything with them. I don't understand.........Since they are no more, maybe this go around it may be easy to get them off my report.
LKH, What do you think I should do here though? It is one of my oldest accounts. I just worry about in the future, after I buy my home, I would like 1 more card. I am worried that I am not getting the increases, or very high limits, becuase it is a mystery what my limits are to creditors. Other then Fingerhut I show the following Target Visa 0 balance 1500.00 limit Chase 0 balance 2700.00 limit Sears 0 balance 1200.00 limit Citi 0 balance 80.00 limit (bdd) Closed by consumer Citi Prefered (Plat Select) NA limit 4103 balance (This is where I get screwed...My limit is 12,000 via BDD) Mortgage most owed 190,000 balance 0 (sold house) Btw- Mortgage loan was really only 168,900 but I am not going to screw with that...it may look better for me.
Well, my citi plat select is also showing NA for the limit on experian. I just got the amex optima with a $12,000 limit. I don't think creditors really care about your other limits too much. If your income can support a high limit, I think they give it. With an 8 year history on that card, I would be inclined to leave it the way it is. I don't think it is hurting. Also, I heard somewhere that the original Fingerhut owner took it over again and they are back up. I'm not sure 100% though.
I won't be using the card at whatever the terrible interest is but I think that you are right, I will keep it open. BTW our income was 99,400 last year. I think that the low limits were due to the fact that our credit was not all that pretty when I got the cards. We will wait quietly to see if we get increases. Chase gave us a whole 200.00 last month! LOL Thanks for your help. Off to a BBQ we go. Have a good Labor Day.
