Fingerhut Credit Account

Fingerhut Credit AccountA very specific credit used to finance purchases from Fingerhut.com

The Fingerhut Credit Account is store-specific, and used to finance purchases made from Fingerhut.com or Fingerhut FreshStart’s catalogue. The account is for personal use, and you can apply with average credit. Being an account member could get you rewards, gift certificates and rebates for future Fingerhut purchases. Many of the items available for purchase are from well-known brand names. The Fingerhut Credit Account is issued by WebBank.

Comparison of Fingerhut Credit Account’s

Rates last updated February 23rd, 2017
Minimum Credit Score Annual fee Monthly Service Fee ATM Withdrawal Fee ATM Balance Inquiry Fee
Fingerhut Advantage Revolving Credit Account
Helps you keep building your credit as you buy great name brand products.
$0 p.a. Go to site More info
Fingerhut FreshStart Credit Account
Get instant access to purchase items in the Fingerhut store with no overlimit fees.
Poor (Below 660) $0 p.a. Go to site More info

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Fingerhut Credit Account Review

The Fingerhut Credit Account allows you to enjoy your items, while you pay for them over time. Applying online is simple, quick, and requires personal information for identification purposes. Fingerhut does not list a minimum credit score requirement, but you are more likely to get approved if you have at least a 563 credit score.

APR is variable, and typically around 25.15% at the lowest. You don’t have to worry about making down payments, and interest rate charges are applied after 24 days. The card is location specific, and can only be used for Fingerhut purchases. Prices are higher with Fingerhut than most other retailers because of the ability to finance items and pay for them over time.

Benefits of the The Fingerhut Credit Account

  • No membership fees. You do not have to pay any membership fees or dues if you are a credit account member. There is no annual fee to maintain the account.
  • Average credit score. If you don’t have a stellar credit score, you can still qualify for the account. While the company does not accept extremely low credit scores, the Fingerhut Credit Account is helpful for people who have average credit scores.
  • Special offer. If you received a customer number by mail or email, you can enter it into the credit account application to receive special offers. You can still apply for the credit account even without a customer number.
  • First order free shipping. If you sign up for a Fingerhut Credit Account, you will receive free shipping on your first order over $50.00.
  • Deferral Period. From time to time, Fingerhut may offer a promotion for deferred payments that current account holders can take advantage of.

Features

  • Online application. You can easily apply online by inputting personal information for ID verification. The application is quick and can be completed in minutes.
  • Limited access. The account can only purchase items from the Fingerhut FreshStart Catalogue, or Fingerhut.com.
  • Higher prices. Fingerhut’s prices are more expensive than retail prices; This is because with the credit account, you can finance your items and pay for them over time, instead of entirely paying upfront. The Fingerhut Catalog does boast more than 500,000 items, so you’ll most likely be able to find what you’re looking for.
  • APR. APR varies and is typically around 25.15%. It may increase, and is calculated by adding 21.65% to the Prime Rate. The Prime Rate is published in the Wall Street Journal’s “Money Rates” section in the Midwest Edition.
  • Statements. Fingerhut sends account members monthly statements electronically or by mail. If you think there is a mistake on one of your statements, you must report the proposed error within 60 days, by mail and in writing.
  • Interest charges. If you want to avoid paying interest charges, you can make payments on time and within the appropriate billing period. Interest is not charged on items that you purchase and pay for within the billing period. Interest charges will always be at least $1, and are calculated by multiplying the daily average balance times the monthly periodic rate.
  • Fees. The Fingerhut Credit Account charges late fees ($37) and returned payment fees ($37.00). Late fees are added as a final payment for up to one month after the final installment.
  • Payment options. You can make payments in a variety of ways. Payments can be made by mail, online through Fingerhut’s website, electronically from your checking or savings account through Bank Bill Pay, or automated by phone. If you have a location near you, you can pay your bill using CheckFree. CheckFree will send the payment directly to Fingerhut.

How to apply for a Fingerhut Credit Account

Eligibility criteria:

  • No stated minimum credit score requirement, but does not accept people with very low credit
  • Must have a valid social security number
  • Must be born in 1999, or earlier

Required documents & information:

  • Name and residential address
  • Email address and phone number
  • Birthdate and social security number
  • Available income amount
  • You can also input your catalog customer number to receive special credit offers.

If you commonly shop with the Fingerhut FreshStart catalogue or on Fingerhut.com, the Fingerhut Credit Account is worth exploring. This credit account is helpful if you are tight on finances, and prefer to enjoy your items while you pay for them over time. Before choosing the Fingerhut Credit Account, be sure to compare it with other options similar to it.

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