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Can Fingerhut Help Rebuild Credit?

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Cotton_Britches
Frequent Contributor

Can Fingerhut Help Rebuild Credit?

Is Fingerhut considered subprime? I've noticed on the boards that some posters view it as a poor card to have on a credit report but I'm not sure why. I was thinking of applying but now I'm rethinking g it.
“Faith is taking the first step even when you don’t see the whole staircase.”
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Can Fingerhut Help Rebuild Credit?

Depends on what you currently have and what you can get. If you are having trouble getting your initial three revolving accounts going, then FH can sometimes give you the initial score boost needed to get some more approvals. But if you already have a couple of accounts going, I would not bother with them. In my case they sent me a pre-approval last November, and then just started reporting as an open $400 revolving credit line in December. They just "added themselves" to my credit history as a positive line. Not gonna complain, but not gonna use them either.

Message 2 of 5
OMW2_HighAcheiver
Established Contributor

Re: Can Fingerhut Help Rebuild Credit?

I wondered the same. I have a Fingerhut account but have never used it. The previous statement lets me know that is Ok to do.




Message 3 of 5
onefifty
Established Member

Re: Can Fingerhut Help Rebuild Credit?

They started me with $230 and so,I paid the intial $30 on an order I placed and paid another $20 before a payment was due and my score went up 23 pts, but I guess it reallly depends on if you care about what people think about that being in your wallet..lol
Message 4 of 5
J91605
Frequent Contributor

Re: Can Fingerhut Help Rebuild Credit?

I don't usually let people see what's in my wallet!lol If someone knows what's in there I'm probably filing a police report.

Starting Score: 6/30/15 EQ 554 TU 534 EX 608
Current Score: EQ 630 TU 635 EX 653
Goal Score: 680 across the board

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Message 5 of 5
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