Become An Authorized Credit Card User
Another trick to build a credit history is to become an authorized user on someones credit card.
For this to work, the primary account holder must manage this credit account responsibly, since theyre ultimately responsible for making the payment.;
As an authorized user, this credit account will appear on your credit report, too. Thus, youre able to benefit from the primary account holders good payment record.
Fingerhut Freshstart Credit Account Review
Depending on your credit, you could initially get approved for the Fingerhut FreshStart® Account.;
This account is a type of Installment loan and is set up with taking 3 steps:
- Make a one-time purchase of at least $50.
- Put a minimum of $30 as a down payment on your order and only a debit card, ACH payment, a paper check or a money order can be used for your down payment.
- Pay off the balance in monthly payments split into either six or eight payments.
Once you have your first item purchased, in order to get your account upgraded to an Advantage Account, you need to make on-time payments over several months.
Dont pay off the item all at one time or you wont be able to qualify for the upgrade.
Below should give you an idea of the fees involved:;
|FreshStart Account Fees|
|6 monthly payments of $3.63||6 monthly payments of $21.78|
In my personal opinion, purchasing something you need and paying a small fee over time, to establish credit is 100% worth it. Just be sure to make your payments on time.
Can I Only Use My Fingerhut Card Anywhere
Fingerhut Credit Can Only Be Used with Select Partners
Fingerhut credit was designed to be used for Fingerhut merchandise, though now most shopping is done through Fingerhut.com rather than its printed catalogs. Among the select partners that honor Fingerhut credit accounts are florists and insurance companies.
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What Is The Highest Credit Limit For Fingerhut
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.
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I Bought A Gift Basket From Fingerhut
So Fingerhut has an assortment of gift sets and gift baskets to choose from, but I decided to go with this Snacktime Favorites Gift Basket.
So with Fingerhut, you buy now and pay later. The gift basket was around $49.99 plus shipping, but I didnt pay anything. I used a discount code that allowed me to buy my item and start paying on it in February.
Get A Secured Credit Card
A secured credit card is another option for establishing or improving a credit score.
These cards are easier to get with poor credit or no credit because youre required to pay a security deposit before youre approved.;
Banks that issue secured credit cards also report your activity to the credit bureaus. If you demonstrate a history of timely payments, your credit score gradually improves and youll eventually qualify for an unsecured credit card.;
If you demonstrate a history of timely payments, your credit score gradually improves and youll eventually qualify for an unsecured credit card.;
Another benefit of a secured credit card is that many cards have a Visa or MasterCard logo.
You can use these credit cards wherever Visa and MasterCard are accepted.
A Fingerhut credit account can only be used with Fingerhut and its partners.
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Sites Like Fingerhut To Buy Now Pay Later With No Credit Check
Chances are that you are spending a fair bit of money keeping your house in good condition, making sure your family is well fed, and above all, making sure your well-being is taken care of. This can easily take away most of your ability to make large purchases.
However, with websites such as Fingerhut, you can make these large purchases and pay back the cost at a monthly rate as low as $6.99.
This allows you to get some of the appliances, gifts, and electronics that you or your family needs without breaking your bank in the process.
If Fingerhut seems interesting to you, but you want to have some more websites to choose from before you sign up to one, here are 20 sites that are similar to Fingerhut and they offer buy now, pay later payment plans and credit for customers.
Before listing and discussing the alternative sites below, lets first get an idea/estimate of the popularity of the top 10 similar sites as measured by the number of searches per month that are executed on Google.
Safeline Account Protection Plus Cost
You pay for this coverage only when you have a balance on your statement, and you may cancel the coverage at any time.
The cost is $1.19 for every $100 of your Fingerhut statement balance.
If you do not have a balance on your statement, your SafeLine Plus coverage remains active and you pay nothing.;
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How I Raised My Credit Score 100 Points With Fingerhut
Around the time I signed up for Fingerhut, my credit score was 591 .
If you dont know your credit score, you can learn how to get it for free by reading our definitive guide to getting a free credit score.;
Fingerhut offers an unsecured revolving loan, which is the same type of credit that a traditional credit card offers.
The only difference is that you do not get an actual credit card that can be used anywhere Visa or MasterCard is accepted.;Fingerhut credit can only be used to purchase from their online store catalog.
When I applied I was unsure if Id qualify for unsecured credit since I had been recently declined.;
However, everything I had read about Fingerhut was that they gave credit out to just about anybody.;;
So I applied
Within seconds, Fingerhut gave me a $1,000 unsecured credit line, issued through Web Bank.;
To give you some perspective, I do not think you could qualify for a traditional credit card from any bank in the U.S. with a credit score in the 500s.;
But you can at Fingerhut!;
My credit score immediately jumped 29 points;when the $1,000 of available credit hit my credit file.;
This credit has come in handy.; With the $1,000 unsecured credit line,;I have purchased multiple brand-name items from their online store.
They offer items such as clothes, kitchen stuff, shoes, outdoor gear, sports equipment, computers, and furniture.;
Fingerhut will usually increase your credit limit if you make your payments on time.;But it gets better
How The Fingerhut Credit Account Compares To Other Cards For Bad Credit
Considering the lack of rewards and benefits offered by Fingerhut, you might want to look into a starter card to help you gain credit until youre eligible for a better credit card. A secured credit card like the Discover it® Secured;Credit Card offers cash back and automatic account reviews to help you graduate to an unsecured card. A security deposits upfront cost will be refunded down the road, and youll likely save more given Fingerhuts higher rates and fees on their credit accounts and merchandise. A student credit card or a might also work to shore up your credit score if you qualify for one.
If youre thinking about applying for a Fingerhut Credit Account purely to shop their catalog, keep in mind that their products and shipping are often more expensive than other retailers. As of the time of writing, Fingerhut discounted a 65-inch Samsung TU8300 4K television to $1,079.99 with a whopping $110 shipping cost. Meanwhile, Best Buy has the same product listed for $679.99 with free delivery.
Combining one of these alternative credit cards with the discounts you can find through an online shopping portal will very likely bring home more savings than Fingerhut ever could.
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Should You Get This Card
If you have no credit history or bad credit, there are much better options for improving your credit score than the Fingerhut Credit Account. We recommend researching secured credit card options or cards designed for bad credit instead, for a few reasons.
For one, you can only use a Fingerhut Credit Account for Fingerhut purchases. Much of what youll find at Fingerhut is similar to items you could buy at a department store or online marketplace like Amazon: clothing, electronics, small home appliances, furniture, and more. But a Fingerhut Credit Account isnt really useful for anything else. You cant use this credit account for an emergency car repair, or at your local supermarket.;
Theres another catch, too: the prices of many Fingerhut items are much higher than what you can find with other retailers. For example, we found a Rachael Ray Cucina 12-Pc. Nonstick Cookware Set from Fingerhut for $174.99, yet the same product was on Amazon.com for $126.81.
If youre looking to repair or improve your credit, a more general card for building credit can offer the same credit-building service by reporting your payments to all three credit bureaus. Plus, youll be able to use it for the items you need most like groceries, utility payments, and more instead of being limited to a single retailer. Put another way: You can save $50 on that Rachael Ray set by using a secured credit card on Amazon, and reap the same credit-building rewards by paying it off in full and on time.
Types Of Fingerhut Credit Accounts
Fingerhut has two different types of credit programs the Fingerhut Advantage Revolving Credit Account and the Fingerhut FreshStart Credit Account, both of which are issued by WebBank. Make sure you review each of these types before applying, so you have an understanding of which is right for you.
The Fingerhut Revolving account potentially has a one-time down payment requirement when you make your first purchase, which counts toward your order. With the FreshStart Credit Account, you make a purchase and then pay a down payment of $30. After you prove you can pay off the balance, on time and in full, you can be promoted to a revolving account with a higher credit limit and no down payment requirements.
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How An Unused Fingerhut Account Affects Credit Scores
If a revolving credit account is unused but open, it still impacts your credit score. First, the limit on that account is part of your available credit, a number that shows how much credit you can access practically immediately. Second, it affects your credit utilization ratio, a reflection of how much available credit you have, and how much credit you are using.
Both your available credit amount and credit utilization ratio are part of your credit score calculations. In some cases, your available credit amount can harm your credit or, at least, make it harder to obtain new credit. However, that depends on a variety of factors, including how large your Fingerhut credit line is and how much other credit you have available.
The impact of your credit utilization ratio can be fairly dramatic. If your unused Fingerhut account helps you keep your ratio low, say at 30 percent or less, its having a positive impact in that area. If, by closing your Fingerhut account, your credit utilization goes up substantially, then leaving it open might be a better choice.
Finally, your Fingerhut accounts age plays a role in your credit score. The average age of your accounts does impact your credit. Usually, the higher the average age, the better. If closing your account lowers the average age of your open accounts, such a move could cause your score to fall.
Bankrates Takeis The Fingerhut Credit Account Worth It
No matter which way you slice it, both the Fingerhut Advantage Credit Account and Fingerhut FreshStart Credit Account have limited value: They can only be used on Fingerhut and partner sites and they charge inflated interest, merchandise and shipping costs.
Although a Fingerhut credit account may be an easily accessible option to build credit, the extra fees peppered into the terms and conditions and lack of meaningful rewards or benefits make secured cards the clear choice for those with limited credit.
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Access To An Online Account
When you apply for a Fingerhut credit card, youre prompted to create an online account. Once youve successfully signed up for the account, you can sign in to shop on the site, save favorite products, and check your account balance. You can also use your online account to make payments, check on your order, and choose whether to receive your statement documents electronically.
Earnings For Each Payment
During each 3-month period, youll earn 10% of the payments you make.;
If you earn $5 or more in Payment Rewards by the end of the 3-month period, youll be issued Payment Rewards in that amount that can be redeemed on a new Fingerhut purchase with your credit account.
The best thing about these rewards is that there is no limit to how many you can obtain.
You get the payment rewards only for all-new posted payments less any refunds or reversals.
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How Does Fingerhut Compare To Other Credit Cards For Bad Credit
Considering the high price of the items and the limited use of FingerHuts credit cards, those looking to build their credit ratings might want to consider a few different options instead.
- Apply for; a Secured Card, which comes with a deposit in case you default on payments. They are easier to qualify for if you have subprime credit, though they do come with higher than average APRs. But unlike FingerHut, you arent limited to one store, and if you meet your payments you can eventually qualify for an unsecured card.
- If you have a recurring payment such as a utility bill or Netflix, you can use an ;Experian Boost to link your bank account, and instantly get credit for payments and start quickly raising your credit score.
Where Can You Use Your Fingerhut Advantage Credit Account Answered
;The Fingerhut Advantage Credit Account generally works as a closed-loop credit card, meaning you can only use it at Fingerhut. However, as an account holder, you will receive special offers from Fingerhuts partners; if you accept one of these offers, you can use the Fingerhut Advantage Credit Account to pay. For more information on using the Fingerhut Advantage Credit Account, see below.
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Are Gettington And Fingerhut The Same Company
Gettington and Fingerhut are both brands under the parent company, Bluestem Brands, Inc. They are different companies with similar formats, and they offer financing through WebBank.
If you have one, you dont need the other because they offer very similar items. Most people choose one and use it to build credit or obtain items on credit.
Fingerhut Credit Account Issued By Webbank Review
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Recommended Credit Score
No Credit Historyi
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
- Annual Fee:
- See Issuer Website
This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit ourbad credit category page.
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Is A Fingerhut Credit Card A Good Option For Bad Credit
Fingerhut is the;second largest catalog retailer in the country, with JC Penney holding the number one spot. It appeals to its customer base of over 31 million people because of the unique opportunity it offers to help you improve your credit score while purchasing items you would have needed to buy anyway.
Fingerhut partnered with WebBank to power its Fingerhut FreshStart Credit Account and the Fingerhut Advantage Revolving Credit Account. Neither line of credit requires shoppers to pay fees outside of interest payments for items theyve purchased. Because of this, a Fingerhut Credit Card might be a better choice than a bad credit loan where youre paying interest from the time you take out the loan.
But does the Fingerhut credit card live up to its hype? Keep reading to find out!
Editors note: If you like this article, feel free to join the conversation and leave your comments at the bottom!Check out for more .