Got approved for Fingerhut FreshStart, how should I pay?

[Anonymous]

I would like to advance to a normal account as soon as possible but I dont want to make a mistake and delay the process. My CL is 180. I purchased an 169 dollar item with 30 down. I now owe them 139. I would love to just pay the 139 and be done with this process but Im worried they will keep me in the Fresh Start program. How fast and how much can I pay to advance out of this program? Also, for any newbies in the same process as me. My Fico score was 556 when I applied if you wanted to know

[Whitneyy]

DO NOT PAY IT ALL AT ONCE. 

You will NOT qualify for the new account. Make at least THREE payments of EXACTLY what they ask before you pay it in full to be upgraded. I did that and the installment loan was closed and the revolving line was opened. 

[Anonymous]

thanks whitney

[Whitneyy]

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@Anonymous wrote:

thanks whitney

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You're welcome. Fingerhut was one of the accounts I used to start to rebuild.

[ZsRebuilding1]

Hi there.

I was just approved for a Fingerhut Fresh Start account, too. My plan is to make 2 payments on time and then on the third pay it off. I hear that is about the best way to do it without dragging it out for six months. I hope that I graduate into the regular FH account, even though I don't really plan on using it that often.

[Whitneyy]

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@ZsRebuilding1 wrote:

Hi there.

I was just approved for a Fingerhut Fresh Start account, too. My plan is to make 2 payments on time and then on the third pay it off. I hear that is about the best way to do it without dragging it out for six months. I hope that I graduate into the regular FH account, even though I don't really plan on using it that often.

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I tried to do TWO but when I called, I was told to at least give it THREE. A coworker tried TWO and she didn't qualify for the upgrade. 

[ZsRebuilding1]

Do you mean pay it off on the fourth payment? I really hope it doesn't take that long.. that's a ridiculous amount of interest to pay! I mean, I get why they want to drag it out, but I was hoping for three payments total, with the third being the pay off.

[Missy85]

Hi,

I have a Fresh Start acct. I made 3 on time payments and paid it off on October 17th. I just called and spoke with a rep who told me that my account will not be changed to a revolving account because I have to make 6 on time payments... I'm super confused, I intentionally paid 3 hoping it would be enough. Should I start all over again

[Whitneyy]

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@Missy85 wrote:

Hi,

I have a Fresh Start acct. I made 3 on time payments and paid it off on October 17th. I just called and spoke with a rep who told me that my account will not be changed to a revolving account because I have to make 6 on time payments... I'm super confused, I intentionally paid 3 hoping it would be enough. Should I start all over again

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Just wait a few days and if you login and don't see where it has a credit limit, then you did not complete it successfully. I made three payments and was upgraded. So I guess your results may vary.

[Whitneyy]

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@ZsRebuilding1 wrote:

Do you mean pay it off on the fourth payment? I really hope it doesn't take that long.. that's a ridiculous amount of interest to pay! I mean, I get why they want to drag it out, but I was hoping for three payments total, with the third being the pay off.

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The purpose of the program is to see your credit worthiness over time, if you can pay your bills when they need to be paid, so that's why they make it stretch. Yes, I agree the interest is high but try to at least pay 3-4 payments before you pay it in full. I was lucky like this, but I also know someone who wasn't.