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Fingerhut Fresh Start Question

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Anonymous
Not applicable

Fingerhut Fresh Start Question

Hello everyone,

 

I have a quick question about the fingerhut fresh start program. I was approved for $230 and have no complaints I'm just happy that after all the help I have received on myfico I am now getting chances at credit. My question is about their graduation process. On their website it says you will graduate after making 6 or 8 on time payments to pay off your purchase. My question is will I ruin my graduation chances if I PIF on the first statement? I have the money to and would like to save myself the finance charges. Any help on this would be awesome. Thanks again for all the help.

Message 1 of 14
13 REPLIES 13
awiser
Regular Contributor

Re: Fingerhut Fresh Start Question

Back in the day, I got a Fresh Start account and made a $50 order. The statement cut and I paid the entire balance. They graduated the account and increased the limit. IIRC, they closed the Fresh Start and opened a new one.

Message 2 of 14
Anonymous
Not applicable

Re: Fingerhut Fresh Start Question

Ok cool. I would think they would be happy to see that you could handel the CL they gave you by PIF on your statment. I just wasnt sure because I'm sure they want to make the finance charges from you.

Message 3 of 14
awiser
Regular Contributor

Re: Fingerhut Fresh Start Question

Are they still backed by WebBank? Anyway, Fingerhut has high markup on their products. What are the benefits for you to have an account with them? I closed mine not long after getting the account because I felt it was a rip-off on both ends. You have a good start with cards, have you considered Cap One?


Message 4 of 14
Anonymous
Not applicable

Re: Fingerhut Fresh Start Question

I just wanted one more TL so I figured I would give it a shot. They are still backed by WebBank and are pretty much a rip off but they gave me a chance so I figure I would try and build up some credit with them. I did try Cap1 and to my surprises was turned down for a SECURED card with them!?! I have on CO from 2009 and was pretty surprised but it is what it is. I cant get discouraged I just need to keep gardening the stuff I have and on my next app run next year I will go for a Cap1 and hopefully get it.

Message 5 of 14
awiser
Regular Contributor

Re: Fingerhut Fresh Start Question


@Anonymous wrote:

I just wanted one more TL so I figured I would give it a shot. They are still backed by WebBank and are pretty much a rip off but they gave me a chance so I figure I would try and build up some credit with them. I did try Cap1 and to my surprises was turned down for a SECURED card with them!?! I have on CO from 2009 and was pretty surprised but it is what it is. I cant get discouraged I just need to keep gardening the stuff I have and on my next app run next year I will go for a Cap1 and hopefully get it.


I understand. Have you read about and worked on methods to get the CO removed? Granted, it's losing its weight as time goes and you should only have two more years of it reporting, but that would boost your score a bit, I'm sure.  You could even dispute its validity if it's not reported correctly.  Otherwise, gardening does wonders, as long as you also watch your utilization as you do it.  As far as when you do your app run next year, check the pre-qualifier sites first for offers, then apply.


Message 6 of 14
Anonymous
Not applicable

Re: Fingerhut Fresh Start Question

I am working on doing a PFD with the CA and plan on sending a GW to Credit One the OC. I also have a couple small colections from Comcast, Sprint and an old Paid medical that should be deleted any day. I know once I get all the baddies removed I will be in a lot better position to request credit.

 

Message 7 of 14
awiser
Regular Contributor

Re: Fingerhut Fresh Start Question


@Anonymous wrote:

I am working on doing a PFD with the CA and plan on sending a GW to Credit One the OC. I also have a couple small colections from Comcast, Sprint and an old Paid medical that should be deleted any day. I know once I get all the baddies removed I will be in a lot better position to request credit.

 


Congrats on having a good plan and best of luck going forward! Smiley Happy


Message 8 of 14
Anonymous
Not applicable

Re: Fingerhut Fresh Start Question

Thanks I couldnt do it without all the help I have gotten from here.

 

Message 9 of 14
Whitneyy
Valued Contributor

Re: Fingerhut Fresh Start Question

Hello.

 

No, for the Freshstart Program, Fingerhut will NOT upgrade you if you pay in full on the first statement. You should make at least three monthly payments and then pay in full. I was going to do mine how you did but when I called I was advised not to. So I paid a little more than the mininum (don't over do it, maybe a dollar more) for three months, and on the final month, I paid it off and then I was upgraded to a revolving line.

GOAL - 700 FICO across the board!
Message 10 of 14
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