Question about Fingerhut

Anonymous · ‎08-22-2013

I have found out everything about Fingerhut that I need to know, except one question. This might be silly but oh well. If they give you a credit limit of 100 for example, does that mean you can only purchase 100 and under, and make monthly payments, or you can get up to 100 a month in payments?

Anonymous · ‎08-22-2013

The limit means that is the extent of the purchase you can make. On the other hand they are known for rapidly increasing the limit once you have established a couple of months of ontime payments. And continued good behavior will gain more. That being said, this is a decent account for establishing a good trade line in your credit history if you do not have other alternatives. But because of their predatory pricing and terms it is not one you should depend on for the long term. Your money would be better spent in establishing a secured credit card account for general purposes when that option is open to you.

kosmos · ‎08-23-2013

@Anonymous wrote:
I have found out everything about Fingerhut that I need to know, except one question. This might be silly but oh well. If they give you a credit limit of 100 for example, does that mean you can only purchase 100 and under, and make monthly payments, or you can get up to 100 a month in payments?

My best advice would be to small a very very small cheap item. Cheapest for their website will be about $10 plus shipping. And I would pay the item off as soon as possible. I did this a few times and it helped my credit a bit. Honestly If I knew what I knew now I would of just opened a secured card elsewhere.

Good luck.