topic Re: Does Fingerhut really build credit score in Credit Cards

Does Fingerhut really build credit score

Anonymous — Sat, 05 May 2018 21:54:13 GMT

Does fingerhut really help to build credit or do they just say that to get customers? I have an account and I don't feel like they helped build anything nor do I feel that we should buy overpriced items to build credit.

Re: Does Fingerhut really build credit score

pipeguy — Sun, 06 May 2018 00:06:19 GMT

When first building or rebuilding credit, any credit card will help establish credit. That being said, "store cards" don't carry the weight of bank cards, and tend to have higher apr (interest). Most of us have had store cards throughout our credit history, most end up getting closed after acquiring universal use cards (MC/V/AE/Discover) with the exception of perhaps one or two "favorite store" cards.

Re: Does Fingerhut really build credit score

Anonymous — Sun, 06 May 2018 00:16:22 GMT

Oh ok because I didn't want to just have this card and they don't report they use webbank I had heard of that bank through the old bill me later program.

Re: Does Fingerhut really build credit score

Anonymous — Sun, 06 May 2018 00:44:29 GMT

When I started rebuilding my credit they gave me a $600 credit line whereby your first order you have to pay $30 up front. I never did use it but they reported to all 3 bureaus for 12 full months and then closed the account, probably because I wasn't using it. But it was one of a handful willing to give me credit which was reportable. I see no repurcussions on my score since it was closed 2 months ago and my AAOA ranges by bureaus from 11 months to 2 years.

Re: Does Fingerhut really build credit score

AverageJoesCredit — Sun, 06 May 2018 00:44:38 GMT

I used Fingerhut to build credit payment history and never bought super over priced items. They do have a couple good deals on occasion you just have to look. Once I reached where I needed to be credit wise, I closed my account but I dont regret having it. It helped build AverageJoesCredit

Re: Does Fingerhut really build credit score

Anonymous — Sun, 06 May 2018 01:04:57 GMT

Something I noticed about fingerhut they also send to other companies I got a whole bunch of catalogs from places I never heard of.

Re: Does Fingerhut really build credit score

Anonymous — Sun, 06 May 2018 08:26:20 GMT

Despite all of the negative press regarding Fingerhut, I can attest to the fact that they do help build credit. Just don't go all crazy with item purchases because their prices + shipping of those items are insane. For an individual with no credit/very limited credit/bad credit, Fingerhut can be a lifeline when s/he finds that they have a hard time getting approved for anything else.

Re: Does Fingerhut really build credit score

Anonymous — Sun, 06 May 2018 10:16:28 GMT

Ok I just wanted to know its not like I am going to try to buy computers tv's and gaming consoles from them I also have other cards cap1 credit one which will be paid down to 0 and closed and I have a walmart card which I pay in full.

Re: Does Fingerhut really build credit score

Anonymous — Mon, 07 May 2018 13:00:44 GMT

@Anonymous wrote:
Ok I just wanted to know its not like I am going to try to buy computers tv's and gaming consoles from them I also have other cards cap1 credit one which will be paid down to 0 and closed and I have a walmart card which I pay in full.

Why do you want to close the other cards that you have? If I was trying to rebuild, I would probably leave them open.

Re: Does Fingerhut really build credit score

Anonymous — Mon, 07 May 2018 14:06:48 GMT

I want to close only credit one not the others as I read here they are an evil bank reason why I applied is because it was a mail offer and capital one wasn't enough at the time and I needed backup.

Re: Does Fingerhut really build credit score

Adkins — Mon, 07 May 2018 14:25:04 GMT

@Anonymous wrote:
I want to close only credit one not the others as I read here they are an evil bank reason why I applied is because it was a mail offer and capital one wasn't enough at the time and I needed backup.

If you are being billed the annual fee at once, keep it open until just before the next annual fee hits. (You've paid for it, might as well.) If the annual fee is being billed monthly, close the card now IF you have at least three other cards open. (Dropping below three can lose you a few fico points.)