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Fingerhut Questions

Valued Contributor

Re: Fingerhut Questions


Gardener76 wrote:
I got my card at some point, now it's buried I don't know where... It's a useless card for something that served its purpose. Their products are way overpriced. Build it up, pay it off, then forget it exists...

Pretty much. Fingerhut isn't any better than a Rent-A-Center or Aarons'. 

 

I can't understand why people would pay $20 a week for 40 weeks when the item is sold at Walmart for $400. These places are nothing but a scam really, but I guess if people want to pay twice as much for an item that's their problem, not mine. 

 

When I was younger I had a Fingerhut credit card with a $600 limit. I guess they didn't like the fact that I paid the item off in two months and couldn't collect a ridiculous amount of interest on their already overpriced items so they reduced my limit to $100... Only card I"ve ever had that's had an automatic credit line reduction on it. 

 

Heck, they can't even listen when I tell them not to mail their stupid magazines anymore because I don't want to do business with them... Haven't used their card in years.

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Message 11 of 21
Valued Contributor

Re: Fingerhut Questions

@mountaindew

 

Im positive no one WANTS to pay more. There are a lot of circumstances people go that route. For those reasons, Aaron's and RAC continue to have a place in the market. Same as finger hut, it's not a long term account BUT it is a stepping stone to create positive credit history. Clearly that is what the op's DH is using it for. 

 

While I know you would never take certain paths, please remember us mere mortals are not as perfect as you. 😁

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Message 12 of 21
Valued Contributor

Re: Fingerhut Questions


Does Rent A Center report to the credit bueraus? They don't even run your credit to approve your credit. 

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Message 13 of 21
Valued Contributor

Re: Fingerhut Questions

IRT: why would someone use it --

Sometimes there are free shipping coupons and sometimes there are major clearance discounts. I got a pair of running shoes for something like $35 once on Fingerhut that were being sold from the company for around $100.

I also haven't paid them interest since I had a fresh start account (and only paid them around $2 worth of interest then, just because the instalment account was required to be paid in a few payments to get converted to the revolver).

They've given me a CLI recently just because.

Fingerhut isn't bad but never, ever buy something through them without research first because Amazon is likely cheaper unless Fingerhut is running some sort of promotion.
Message 14 of 21
Super Contributor

Re: Fingerhut Questions

Yes i know you can probably find same item cheaper on Amazon or Walmart , sometimes not, but for me the whole point of Fingerhut should be to establish good payment history which means, fortunately or unfortunately, your going to have to purchase something so that you can pay monthly. For me this is an example where pay in full may not be best at least not right away. You most likely are rebuilding or building credit if you have this card so its important to show you can make monthly payments .

The key here is not to make huge purchases where you are definitely gonna pay an astronamical price but look for a special or something small. I KNOW i may have paid more for something i could have gotten cheaper, perhaps in Pennys , but i also know it was a small sacrifice to establish im good for making monthly payments. Im in agreement with the Rent A centers and such but im sure they serve their purpose for those who absolutely need it. I would prefer those people learn how to better their credit as there are better options to establish credit but it is what is is.Smiley Happy
Message 15 of 21
Established Contributor

Re: Fingerhut Questions

Yes, they report as a credit card on my reports and no, there's no HP for getting on board with them. I've had then for little over a year bought one thing from them and haven't used then since. My CL had went from 600-900-1500 in a matter of a few months and hasn't budged an inch.

They're to be used as a stepping stone, nothing more.

Message 16 of 21
Valued Contributor

Re: Fingerhut Questions

 

I appreciate the debate in some ways, but I definitely made it clear it is a means to build DH's credit, and we got a decent deal. We wanted to get something that cost enough that we could make a large payment, then keep making smaller ones for about 6 months.

 

BTW, it was a HP on EQ for anyone that might want to know.

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

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Message 17 of 21
Super Contributor

Re: Fingerhut Questions

You know it would form some kind of debate Bella, haha, but its good as maybe someone who doesnt have it or is thinking of getting it may learn something. I dont know if it was because it was my absolute first credit i saught in 8 years since my bk7, but they gave me the dreaded 3 pull. Thankfully they should fall off my reports in feb 17Smiley Happy
Message 18 of 21
Valued Contributor

Re: Fingerhut Questions


AverageJoesCredit wrote:
You know it would form some kind of debate Bella, haha, but its good as maybe someone who doesnt have it or is thinking of getting it may learn something. I dont know if it was because it was my absolute first credit i saught in 8 years since my bk7, but they gave me the dreaded 3 pull. Thankfully they should fall off my reports in feb 17Smiley Happy

Good point, AJC! I just hope that people don't get scared off if this is truly the way to get their foot in the credit door. While I am far from being a defender of credit like Fingerhut or Credit One, I definitely think they can be used for one's benefit and their ill effects like fees, high APR, etc. can be minimized if someone works it right.Smiley Happy

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

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Message 19 of 21
Super Contributor

Re: Fingerhut Questions

Agreed Bella. I think i made this point elsewhere but i know there are certain times that FH offers free shipping , i could never take advantage of it due to where i live, and thats one time to take advantage of their fees. Others would be clearance items as they do on occasion have good mark downs. It could be me but they will always have a place in my heart as in 2 separate times ive had them throughout my life, ive never had problems. If i had to choose bewtween a product like FH or a Credit One cc to help me establish credit, im picking FH 7 days of the weekSmiley Happy
Message 20 of 21