A no-nonsense line of credit with payments as low as $6.99
We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.The Fingerhut Advantage Revolving Credit Account is the type of account that is helpful in building or repairing credit, while allowing you to purchase the best name brands available on a monthly payment plan that works for your budget. The account features no annual fee, no overlimit fees, and low monthly payments.
If you’re in need of building or rebuilding your credit, the Fingerhut Advantage Revolving Credit account could be right for you. It doesn’t have many of the same benefits as other credit accounts, but it boasts low payments and no annual fees, and the number of individuals approved for the account is higher than other similar accounts.
|Product Name||Fingerhut Advantage Revolving credit account|
|APR for Purchases ( Purchase Rate )||26.15% variable|
|Interest Free Period|
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
|Up to 24 days|
|Returned Payment Fee||$38|
|Minimum Credit Score||Poor (Below 660)|
|Minimum Age||18 years of age|
|Min credit limit|
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|Max credit limit|
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
|Returned Payment Fee||$38|
|Late Payment Fee||$38.00|
The Fingerhut Advantage Revolving Credit Account comes with a few benefits, and here’s what’s in store if you become an account holder:
- No annual fee. Other accounts of this type often charge an annual fee.
- Average credit score. The credit score required for approval with this account is lower than most store lines of credit.
- Low monthly payments. Depending on what you purchase, your monthly payment could be as low as $6.99.
- Credit line increases for good customers. The Fingerhut company will increase the credit line for individuals who make on time payments and maintain good account standing for a period of time.
- Immediate access. If you are approved, you can begin using your line of credit immediately.
The nuts and bolts
- Annual fee. This credit account offers a $0 p.a. annual fee.
- Interest-free days. The due date of your account would be at least 24 days after each billing cycle’s end. If you pay the account’s closing balance in full by the due date, you don’t have to pay any interest on purchases.
- Late and returned payment fees. You may have to pay $38.00 for late and returned payments depending on the state of your residence.
- Higher prices. The prices at Fingerhut are higher than those at other retailers, but that is because the shoppers are buying items on a payment plan in order to space out their payments.
- Access is limited to Fingerhut. This account can not be used outside of Fingerhut.
- Payment options. Much like other credit accounts, payments can be made by mail, through the Fingerhut website, electronically from your checking or savings account or by phone.
- Interest rate. The interest rate on this account is roughly 26.15% variable, but the rate fluctuates with the Prime Rate. The APR may vary and may increase.
- Interest charges. To avoid paying interest, you can pay off your balance at the start of each month. Interest charges, however, will always be at least $1, should you decide to leave a balance. The interest is calculated by multiplying the daily average balance times the monthly periodic rate.
How to apply for the Fingerhut Advantage Revolving Credit Account
Always consider your options and your financial situation before you apply for a credit card.
- You’re at least 18 years old
- You must have a valid Social Security number
- The minimum required credit is not stated, but those with very low credit may not be eligible
- Your name and your current residential address
- Your phone number and email address
- Your date of birth and Social Security number
- Amount of available income
The Fingerhut Advantage Revolving Credit Account could be a good idea if you’re looking to make low monthly payments on items and build your credit. The selection on Fingerhut.com is pretty good, with lots of great brands, but be sure to read about the interest rate, and compare your options with this type of account with others out there before you make a choice.