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Fingerhut Credit Card Account Review
REVIEW

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If you have bad credit and are sick and tired of all the high fee unsecured cards, then you might want to consider this account as part of your arsenal of tools to rebuild your credit. The fingerhut catalog has been around for a long time and there are no hidden fees (unlike many sub-prime cards). In this review, you will find out:
  • The type of wide ranging products from famous brands that Fingerhut has
  • Why they are better than other subprime cards when it comes to fees? (hint: no annual fee or monthly fees)
  • Reporting to all three major credit bureaus is great for rebuilders
  • How you can get your FICO Scores for free simply being a member

Right now - Get $25 off for your first order of $100 or more when you are approved for the Fingerhut Advantage Credit Account. PROMO Code: NC849

By : Mr Credit Card

Who is Fingerhut?

Fingerhut is catalog that started in 1948 by William Fingerhut and his brother Manny selling automobile seat covers. In 1952, they diversified and began a mail catalog selling a variety of other products. Today, you could purchase brand name products from their websites as well as their catalog. Unlike many online stores, Fingerhut actually extends credit to consumers who do not want or cannot pay in full for their purchases. They also tend to accept applicants with bad credit as well. Hence, many folks who have had their credit damaged have successful used them in their rebuilding process (along with other cards). Bear in mind that Finger Credit Account is not a traditional credit card. It can only be used for Fingerhut's purchases.

fingerhut store

 

Card Details

Annual Fee: No annual fee

Membership Fee: No membership fee

APR: 25.65%

Credit Bureau Reporting: Reports to all three major bureaus.

Unlike many other subprime cards, Fingerhut does not charge any, one-time application fees or monthly maintenance fees. The APR is 24.9%, which means that at the moment. You will be charge interest fees on the balance that you carry. On their website, they have listed a table showing the approximate amount you have to pay based on the balance that you carry.

payment schedule

 

Should You Get A FingerHut Account?

Pros - Here are the strong points of getting this account.

Relative Easy To Get - Getting a Fingerhut account open is relatively easy. Those with bad credit have got accepted for their financing program.

Reports To Credit Bureaus? - While there is nothing official from them, various members have reported that they do report to major credit bureaus. TransUnion and Equifax are often mentioned in forums. This is very important and is a major reason why many folks who are in the credit rebuilding mode often apply for this account.

No Hidden Fees - Unlike unsecured sub-prime cards, this credit account has no hidden fees. Sub-prime cards (especially the unsecured types) normally comes with a high annual fee and even monthly maintenance fees. Some even charge a one-time application fee to "activate your account". Hence, this is a very cost effective credit line to get in your rebuilding efforts.

If you are a serial bargain hunter and are always looking for the lowest price on products, then this is not the place to get them. It does not have the cheapest price. But what it does offer is consumer credit financing for those who cannot or do not wish to pay in full for their purchases. And they will open an account for those with not so stellar credit. That means that this is a good credit account to rebuild your credit.

The key advantage of this program is that unlike many unsecured sub-prime cards, there is hardly any fees. You simply have to pay interest on your balances (or you can choose to pay in full).

The path to rebuilding one's credit often starts with a couple of secured cards. However, the ultimate aim is to get back into unsecured land. After having secured cards under your belt for about 6 months, you could start trying to get one or two unsecured cards. You have the choice of (some) gas cards, retail cards or failing that, annual fee unsecured cards like Credit One. However, sometimes, you might be disapprove of even those cards. If that ever happens to you, then you should very well consider getting your hands on the Fingerhut credit account. By having an unsecured line, you will instantly lower your utilization rate. You also do not have to make a purchase every month and only take advantage of sales. You could also pay in full and avoid finance charges. If you already have a high fee unsecured card, you may want to consider adding this to your rebuilding arsenal rather than paying for another high fee card.

Online Application Forms

When you click on the apply now button on this page, it will take you straight to the application page (see screen shot below to see how it looks like). All you need to do it to fill out your information.

fingerhut application fingerhut application

 

 



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