FingerHut. Is it a good option for me?

[Anonymous]

So i am in the early stages of rebuilding right now and i feel that i am on the right track. I have. First Progress secured ($200) Discover it secured ($200) and Capital 1 unsecured platinum ($300). I have a self lender and auto loan 18k All in good standing! CC utlz is at 10%

Only down side is all 3 cc are only about 2 months old.

Is fingerhut a good option for me or should i wait and apply for care credit as i will need dental work done in the 1000-2000 range done here soon.

Fico
ex575
tu 574
eq593

previous scores were in the mid 400’s

[Remedios]

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@Anonymous wrote:
So i am in the early stages of rebuilding right now and i feel that i am on the right track. I have. First Progress secured ($200) Discover it secured ($200) and Capital 1 unsecured platinum ($300). I have a self lender and auto loan 18k All in good standing! CC utlz is at 10%

Only down side is all 3 cc are only about 2 months old.

Is fingerhut a good option for me or should i wait and apply for care credit as i will need dental work done in the 1000-2000 range done here soon.

Fico
ex575
tu 574
eq593

previous scores were in the mid 400’s

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You have 3 cards and installment loans. You're all set scoring wise, fingerhut will not help at all. 

As far as Care Credit goes, I think you'll need to wait till your scores are a bit higher

[RonM21]

Welcome luna_scout123! I think you don't need the Fingerhut at this point. What you have should be good, as it fits the mix needed. Plus you can let the accounts you just got grow a bit more.

[Anonymous]

Yep no need for Fingerhut. Just have your account age for a good 6-9 months. 

[Medic981]

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@Anonymous wrote:
So i am in the early stages of rebuilding right now and i feel that i am on the right track. I have. First Progress secured ($200) Discover it secured ($200) and Capital 1 unsecured platinum ($300). I have a self lender and auto loan 18k All in good standing! CC utlz is at 10%

Only down side is all 3 cc are only about 2 months old.

Is fingerhut a good option for me or should i wait and apply for care credit as i will need dental work done in the 1000-2000 range done here soon.

Fico
ex575
tu 574
eq593

previous scores were in the mid 400’s

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Welcome to the myFICO forums!

I would stay away from Fingerhut. Although Fingerhut could thicken your credit file, and their products are quality items, what Fingerhut charges is outrageously overpriced, which is how Fingerhut makes its money.

[Anonymous]

Oh plus in 6-9 months your discover should un-secure and your score should be higher to apply for better cards.

[Anonymous]

I am hard pressed to decide which is worse - Fingerhut's merchandise, Fingerhut's prices for that merchandise or Fiingerhut's card. On all three you can do better paying cash at Target (or K-Mart, Sears, Sams Club, Walmart or any other brick and mortar store).

[CreditUnionFan]

What Fingerhut product are you being offered?  If it's the catalog-only card, I'd pass. The prices in the catalog, now website, always were a bit inflated.  I had one of the MC credit cards many years ago, but they charged annual fees, and I realized that my efforts were better spent with secured cards with BankOne (now Chase) and Capital One.  Bank of America also offers a secured card, but I don't think you need another card with another annual fee. 

It sounds like you have a Visa, a MC, and a Discover; that should be fine.  I'd minimize annual fees. The Fingerhut products don't grow with you.

I would wait to apply for the CareCredit as long as you can, to get your score as high as possible.  If you need the credit, then you could try for it, but you'll have the better chances for approval, and at higher limits, with a higher score.  There are few options below 600, but you'd be surprised how quickly your score can improve with on-time payments. 

If you haven't looked into it already, see if there's any incorrect information on your report.  If there are derogatory accounts, try to negotiate before just paying...  an R9P is not much better than an R9 in many lenders' eyes.