What is Fingerhut ?

Anonymous · ‎12-03-2014

i have heard bout fingerhut so many times what is it and what does it do for your credit. i have a capital one secured mastercard with a $200 limit right now should i get this fingerhut thing to help my credit. if so what is the best way to use it so i dont get into trouble with it.

Anonymous · ‎12-03-2014

Fingerhut is a mail order catalog/online vendor that offers credit lines through Webbank. They usually start out with an installment type account that 'graduates' to a revolving line of credit after several payments. They are useful in rebuilding efforts when its really tough to get approved.

Anonymous · ‎12-03-2014

I've had mine about 6 months now. They are a bit overpriced but not outrageous. Kind of like a higher priced amazon.com. lol. They have a little bit of everything. I started with a 400.00 credit line ,bought a small item,paid it off over 3 months, on the 4th statement I got a bump up to 700.00. They are quite generous with clis. Hope this helps. Happy holidays!

Anonymous · ‎12-03-2014

Seeing your scores you may be approved for the fresh start (low limit and you have to pay I believe 30 dollars for an item that costs 150, but i could be incorrect) you could also risk it and be approved for the regular account. I was approved for 400 yesterday and purchased the smallest item I could. It is overpriced a little bit and the shipping is ridiculous. But they report to all 3 Credit Bureaus and are very generous about Credit Limits which will be increasing your available credit. I have heard a lot of people are denied the regular account and offered the fresh start. Whatever you decide to do let us know of the outcome!!

JennaD075 · ‎12-03-2014

@Anonymous wrote:
Seeing your scores you may be approved for the fresh start (low limit and you have to pay I believe 30 dollars for an item that costs 150, but i could be incorrect) you could also risk it and be approved for the regular account. I was approved for 400 yesterday and purchased the smallest item I could. It is overpriced a little bit and the shipping is ridiculous. But they report to all 3 Credit Bureaus and are very generous about Credit Limits which will be increasing your available credit. I have heard a lot of people are denied the regular account and offered the fresh start. Whatever you decide to do let us know of the outcome!!

I think the Fresh Start is great if that is what they approve you for. Fingerhut is a great tool if you use them right in the rebuilding. I can't say enough good thing's about them for rebuilding purposes. Not for people that already have good credit.

junebug225 · ‎12-03-2014

As mentioned, fingerhut is great for rebuilding. I started with the freshstart program at $120. While I'm still knee deep in the rebuilding phase, a year later it's my highest revolving line at $1000. I normally buy something the I need when they have specials going on like a certain percent off or free shipping. Pay it off and a few payments and like clock work I get a CLI.

Fico's EQ 540 TU 529 EX 517 starting 3/2015
Fico's EQ 760 TU 775 EX 771 as of 04/204
Long term 775 across the board

Anonymous · ‎12-04-2014

@JennaD075 wrote:
@Anonymous wrote:
Seeing your scores you may be approved for the fresh start (low limit and you have to pay I believe 30 dollars for an item that costs 150, but i could be incorrect) you could also risk it and be approved for the regular account. I was approved for 400 yesterday and purchased the smallest item I could. It is overpriced a little bit and the shipping is ridiculous. But they report to all 3 Credit Bureaus and are very generous about Credit Limits which will be increasing your available credit. I have heard a lot of people are denied the regular account and offered the fresh start. Whatever you decide to do let us know of the outcome!!
I think the Fresh Start is great if that is what they approve you for. Fingerhut is a great tool if you use them right in the rebuilding. I can't say enough good thing's about them for rebuilding purposes. Not for people that already have good credit.

This.

I don't know about myself having "good" credit, but I actually got an invite in the mail. Tossed it out. (shreded) It's good if you are newly rebuilding, but once you get established, there are better options out there imo.