Fingerhut is an online shopping website offering more than 450,000 products. The have products from popular brands such as Samsung and KitchenAid. What makes this store Fingerhut great is that they offer credit to customers who may not qualify elsewhere. Their products are also affordable. The idea is to allow customers to get credit accounts with low monthly repayment options and buy products that they love.
How Does the Fingerhut Credit Account Work?
WebBank issues Fingerhut credit accounts which are available to people with less-than-perfect credit. Getting a Fingerhut Credit account can help you build your credit. One of the main reasons Fingerhut has become so popular is because they often extend a line of credit to people who have been denied credit elsewhere.
Once you’re given a Fingerhut Credit Account, Fingerhut will report your payment history to the three major credit bureaus – Equifax, TransUnion and Experian. If you make your payments on time each month, you can establish a positive credit history which can boost your credit score.
There are two types of Fingerhut credit accounts:
- The Fingerhut Advantage Credit Account
- The Fingerhut FreshStart Installment Loan
WebBank issues both lines of credit and you won’t know which one you qualify for until after you apply. If you don’t qualify for the Advantage Credit Account, then you’ll be automatically considered for the FreshStart Installment Loan. Either account allows you to buy products through Fingerhut’s website. The accounts have low monthly payments, no application fee, no annual fee, no over-limit charges, and access to 24/7 customer service.
Differences Between FreshStart and Advantage
The Fingerhut FreshStart credit account has a credit limit of $125 – $230. This account requires a $30 down payment. The installment loan is good for one purchase and accountholders pay it off in 6-8 months. Users also have the chance to be issued a revolving account with a higher credit limit. This type of account is for people with no credit or damaged credit.
The Fingerhut Advantage Credit Account is a revolving account instead of an installment account. It offers a credit limit of $200-$800. Accountholders have opportunities for future credit line increases and deferred payment offers. They can also choose their due date. The account also has low monthly payments and depending on their credit, may have to make a $30 down payment on their first purchase. The Fingerhut Advantage Credit Account is for people with fair to good credit.
Fingerhut is an excellent option for people with subprime credit who want to shop online while building good credit. If you’ve been turned down for credit in the past, you may still be able to qualify for a Fingerhut account.
What are the Advantages of Using a Service Like Fingerhut?
A Fingerhut Credit Account has a lot of advantages:
- No membership fees. There are no membership fees or annual dues that you need to pay to participate in this program.
- You can get special offers. Sometimes Fingerhut gives its members special offers.
- Low monthly payments. One of the greatest advantages of being a Fingerhut credit account holder is the low monthly payments. It gives you access to financing that you may not be eligible for elsewhere.
- You get the decision in a matter of seconds. Applying online for a Fingerhut Credit Account is quick. You’ll get a decision in a matter of seconds. The website automates the application process, making it quick and easy.
- Fingerhut reports to the three major credit bureaus. Fingerhut reports your payment history to all three major consumer credit bureaus. Some creditors only report to one or two of the credit bureaus.
- Fingerhut accepts people with average credit scores. Even if you don’t have a good credit score, you may still qualify for a Fingerhut credit account.
Here are some other options that you might be interested in:
OpenSky® Secured Visa® Credit Card
- No credit check to apply. Zero credit risk to apply!
- Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
- Extend your $200 credit line by getting considered for an unsecured credit line increase after 6 months, no additional deposit required!
- Get free monthly access to your FICO score in our mobile application
- Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
- Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
- Fund your card with a low $200 refundable security deposit to get a $200 credit line
- Apply in less than 5 minutes with our mobile first application
- Choose the due date that fits your schedule with flexible payment dates
- Join over 1.2 million cardholders who’ve used OpenSky to build their credit
There are lots of advantages to a Fingerhut account. But before you sign up, you may want to be aware of some of the disadvantages of a Fingerhut account:
- You can only use the credit account to purchase Fingerhut merchandise. Some credit cards are more versatile and can be used at different places. However, Fingerhut does offer a huge variety of products, so you shouldn’t have any problems finding something you want.
- The prices you end up paying for those products may be a little higher than you would pay for the same products at other stores. If you’re making a big purchase though, you may find it easier to qualify for financing than you would somewhere else, so you can pay it off over time, rather than trying to save money to buy a product outright.
If you’re trying to improve your credit or can’t qualify for other lines of credit, then a Fingerhut Credit Account may be worth considering.
How Can You Get a Fingerhut Credit Account?
The application process is simple. You can do it online. In order to apply, you need to provide the following:
- Your name, date of birth and contact information
- Your income
- Social Security number
Does this sound like a good idea to you? You can easily apply and know immediately whether or not you qualify. Remember that when applying for a credit account you’ll want to consider your finances and your budget. If you want to know where your credit stands, check your credit for free today at Credit.com. We offer a free credit score and a credit report summary, as well as tips to help you improve your credit.
At publishing time, the Fingerhut Credit Account is offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, these relationships do not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).
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