I got this email and want to remind everyone that Fingerhut is changing their terms and more info are provided below:
Important Changes to Your Account Terms
The following is a summary of changes that are being made to your account terms. The changes to the Late Fee and Returned Payment Fee take effect on April 1st, 2020. The changes to the Minimum Payment Due take effect beginning with the Minimum Payment Due that will be reflected on your April 2020 billing statement. For more detailed information, please refer to the detailed information in the “ADDITIONAL INFORMATION ABOUT THESE CHANGES” section below.
You do not have the right to reject these changes to your Account.
| Revised Terms, as of April 1st 2020 |
| Late Payment Fee | Up to $40 |
| Returned Payment Fee | Up to $40 |
Minimum Monthly Payment: Your minimum monthly payment will be increased and will vary based on your account balance, as follows:
| Revised Payment Chart, as of April 1st 2020 |
| Account Balance | |
| From | To | Minimum PMT $ |
0
$9.99
$45.00
$70.00
$100.00
$125.00
$200.00
$250.00
$300.00
$350.00
$450.00
$550.00
$800.00
$1,100.00
$1,400.00+ | $9.98
$44.99
$69.99
$99.99
$124.99
$199.99
$249.99
$299.99
$349.99
$449.99
$549.99
$799.99
$1,099.99
$1,399.99
- | 100%
$9.99
$10.99
$11.99
$13.99
$17.99
$20.99
$23.99
$26.99
$32.99
$37.99
$46.99
$59.99
$69.99
5% |
ADDITIONAL INFORMATION ABOUT THESE CHANGES
1) Change in Late Fee
We are also amending your WebBank/Fingerhut Advantage Credit Account Agreement to reflect this change to your Account. The section of your Agreement titled “Late Fees” is being replaced with the following:
Late Fees. Late fees will be equal to your minimum payment due with a maximum amount of up to $29.00. The maximum amount will increase to $40.00 if you did not make your minimum payment on time in any one of the 6 prior billing cycles, (or to the extent permitted by applicable law). The late fee will never be greater than your minimum payment due to which the late fee relates.
2) Change in Returned Payment Fee
We are also amending your WebBank/Fingerhut Advantage Credit Account Agreement to reflect this change to your Account. The section of your Agreement titled “Returned Payment Fees” is being replaced with the following:
Returned Payment Fees. Returned payment fees will be equal to your minimum payment due with a maximum amount of up to $29.00. The maximum amount will increase to $40.00 if you had any returned payments in any one of the 6 prior billing cycles. The returned payment fee will never be greater than your most recent minimum payment due.
If your account is currently covered under the Servicemembers Civil Relief Act (SCRA), Consumer Credit Counseling Services, or Hardship Programs: In these cases, the changes to the Late Fees and Returned Payment Fees described above will not go into effect at this time. These changes will go into effect the later of (1) the effective dates set forth in the notice or (2) when the SCRA, Consumer Credit Counseling Services, or Hardship Programs no longer apply to your account.
3) Change in Payment Chart
If your account is subject to a fixed payment plan, covered by a CCCS or Hardship program, the change to the Payment Chart will not go into effect until the later of (1) the effective dates set forth in the notice or (2) when the CCCS or Hardship program no longer applies to your account.
If you have questions regarding these changes, contact Customer Service at 1-800-208-2500.
Please take a moment to review our
Information Sharing Policies.
Our policies inform you of what information we share, how we share it and what information you may opt of our sharing it.
You can access our policies via the links below:
Fingerhut Privacy Policy:
https://s7d5.scene7.com/is/content/bluestembrands/eCatalog/FHT/1601_PrivacyPolicy/FHT Privacy 01_19p...
WebBank Privacy Policy:
https://www.fingerhut.com/assets/f/nonselling/WebBankFingerhutPrivacy.pdf
