Hey guys,
I'm new here... and Fingerhut brought me here after doing research and reading reviews on this forum. I made some mistakes when I was younger, I'm 25 now, which mostly were due to being laid off when I was 19 from my job. I have some negative things on my credit report, mostly charge offs. I applied for a secured installment loan from my bank (Regions) for $300 and got approved. They secure the money from my savings account which I have a decent amount in (no credit card company would appove me for a secured credit card). So I've got the $300 put into a new account I opened and it's being auto drafted. It's basically for credit rebuilding. So the lady at the bank told me that was a good step and that after that was paid off (I'm doing 6 payments and not paying it off early) I might qualify for one of their credit cards which is great because she told me that different types of credit look good on my credit report. Well, I've been getting things in the mail from Finger Hut, and after reading stuff about credit rebuilding, I applied and got approved for the Fresh Start program thing. I got approved for $200 and I was hesitant on even buying anything because it was overpriced. I found something I needed (which was only a few dollars more on there than at Wal-Mart... I researched!) and spent the $50 requirement and paid my $30 down payment I only owe like $22 on it now. Where do I go from here? My sole purpose of opening the account was for positive credit. I've heard that it shows on your credit as an installment account until you get bumped up to the actual revolving credit account and I'm wanting different types of credit because I've heard that looks better. Just looking for some feedback 
Ah so that's what TL means, I've been trying to get used to this credit lingo! Thanks
@Anonymous wrote:
Just keep positive history going and eventually get some more positive tradelines going.
@Anonymous wrote:Hey guys,
I'm new here... and Fingerhut brought me here after doing research and reading reviews on this forum. I made some mistakes when I was younger, I'm 25 now, which mostly were due to being laid off when I was 19 from my job. I have some negative things on my credit report, mostly charge offs. I applied for a secured installment loan from my bank (Regions) for $300 and got approved. They secure the money from my savings account which I have a decent amount in (no credit card company would appove me for a secured credit card). So I've got the $300 put into a new account I opened and it's being auto drafted. It's basically for credit rebuilding. So the lady at the bank told me that was a good step and that after that was paid off (I'm doing 6 payments and not paying it off early) I might qualify for one of their credit cards which is great because she told me that different types of credit look good on my credit report. Well, I've been getting things in the mail from Finger Hut, and after reading stuff about credit rebuilding, I applied and got approved for the Fresh Start program thing. I got approved for $200 and I was hesitant on even buying anything because it was overpriced. I found something I needed (which was only a few dollars more on there than at Wal-Mart... I researched!) and spent the $50 requirement and paid my $30 down payment I only owe like $22 on it now. Where do I go from here? My sole purpose of opening the account was for positive credit. I've heard that it shows on your credit as an installment account until you get bumped up to the actual revolving credit account and I'm wanting different types of credit because I've heard that looks better. Just looking for some feedback
Fingerhut is a good way to go for someone with your credit profile. The suggestion of Regions mentioned above is good, too. You may also want to look into SDFCU's secured card, as they don't pull CRs to open (IIRC, they do pull Chexsystems to open an account with them, however).
You may also want to post in our Rebuilding Your Credit forum. There are ways to address your charge-offs and other baddies. Good luck!