A line of credit for those looking to build their credit scores while buying name-brand merchandise.
- Get this card if you want to build your credit while shopping for name-brand merchandise.
- Pick something else if you want a credit card you can use widely with other merchants.
- Apply if you’re trying to build your credit score. Note that approval isn’t guaranteed.
|Product Name||Fingerhut FreshStart® Credit Account|
|APR (Annual Percentage Rate) for Purchases||See issuer's website|
|Interest Free Period||Up to 24 days|
|Late Payment Fee||Up to $14.9|
|Returned Payment Fee||Up to $25|
|Additional Cardholder Fee||$0|
|Rates & Fees||Rates & Fees|
|Minimum Age||18 years of age|
You can apply for credit from Fingerhut through the application form on the retailer’s site. Depending on your credit profile, you may get access to a Fingerhut FreshStart® Credit Account, which is an installment loan.
The Fingerhut FreshStart® Credit Account allows you to buy items from Fingerhut and pay them off over six or eight months, but you’ll have to make a down payment.
No annual fee.*
Similar accounts charge a monthly or annual fee, but you don’t have to worry about paying either to keep this account open.
You may qualify with a lower credit score.
If your credit has seen better days, you may still be approved for a Fingerhut FreshStart® Credit Account. The program is designed for those seeking to improve their credit scores, and some customers have said they were approved with no credit history. Of course, approval is never guaranteed.
Good customers are rewarded.
If you pay off your first purchase within six payments — with no late or incomplete payments — you could qualify for the WebBank/Fingerhut Advantage Credit Account. You may also receive a higher credit line.
Low monthly payments.**
Depending on your purchase volume, you could have a low monthly payment if you apply and are approved for a Fingerhut FreshStart® Credit Account. Accounts are issued by WebBank, who determines eligibility and qualifications for the terms of credit.
Here's an example of monthly payments
Once you make a one-time purchase of $50 or more on Fingerhut, you’ll need to make a $30 down payment. Afterward, you’ll pay off the purchase in six to eight monthly payments, including finance charges.
This is an example payment structure from Fingerhut’s terms and conditions.
|Cash price of product||$50||$100|
|Terms of repayment||6 monthly payments of $3.63||6 monthly payments of $12.71|
According to Fingerhut, these are estimated monthly minimum payments. Your actual payments may be different after you’re approved for your credit account.
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As soon as you’re approved, you can begin using your account.
Reports to credit bureaus.
According to Fingerhut, your payment history is reported to credit bureaus. This can help you grow your credit score and build your buying power.
What to watch out for
Potentially high APR.
You may receive a purchase APR that’s much higher than the typical credit card APR of around 16%. See issuer’s website for terms and conditions.
Late and returned payment fees.
For each late payment, you’ll incur a fee of $14.9.
For each returned payment, you’ll incur a fee of $25.
Terms apply to graduate to a revolving-credit account.
You’re not eligible for the WebBank/Fingerhut Advantage Credit Account if you pay off your entire balance at the same time you make your down payment.
Consider other cards if …
You want a card you can use widely.
The Fingerhut FreshStart® Credit Account is only good for purchases at Fingerhut. If you want to use your card at a variety of locations, consider a credit card that isn’t tied to a specific merchant.
You want another option to rebuild your credit.
You may want to explore secured credit cards, which you may qualify for with less-than-stellar credit. It takes a security deposit to get one, so there’s a better chance of approval than you’d have with an unsecured card. Your payment history will typically be reported to the major credit bureaus — TransUnion, Experian and Equifax.
Another option you may want to look into is a store credit card. Though you can use it only with a retailer’s specific network, your payment history is usually reported to the bureaus.
Compare credit cards
What should I know before I apply?
You can get all of the information needed from the Fingerhut website before you apply.
- You’re at least 18 years old
- You have a valid Social Security number
- Your name and current residential address
- Your phone number and email address
- Your date of birth and Social Security number
- Amount of available income
What credit score do I need?
The Fingerhut FreshStart® Credit Account is designed for customers who are rebuilding credit. You won’t find a specified minimum credit score on Fingerhut’s website.
What do customers say about the Fingerhut FreshStart® Credit Account?
Many customers say they’ve seen their credit scores increase after using the Fingerhut FreshStart® Credit Account. However, some customers mention it’s important to make payments on time to not jeopardize one’s chances at a WebBank/Fingerhut Advantage Credit Account.
Fingerhut’s parent company, Bluestem Brands, Inc., has a B+ ranking with the Better Business Bureau and is accredited with it. Bluestem Brands, Inc., at the time of writing, has over 2,400 customer complaints regarding difficulty with making payments, finance charges, unsolicited marketing and poor-quality merchandise.
How to apply for the Fingerhut FreshStart® Credit Account
- Visit the Fingerhut website and click Shop now.
- Click Apply now on the next page.
- Fill out the application with details like your name, email address, Social Security number, annual income and date of birth.
- Review and submit your application.
I got the card. Now what?
Make on-time payments.
Making payments on time gives you a chance at graduating to the WebBank/Fingerhut Advantage Credit Account.
Late payments come with fees of up to $14.9. Returned payments come with fees of up to $25.
Contact customer service.
If you have any questions, you can call Fingerhut customer service at 1-800-208-2500 — Monday through Friday, 8 a.m. to 8 p.m. CT.
If you’re looking to buy merchandise while potentially making low monthly payments, the Fingerhut FreshStart® Credit Account could be an asset. As with any credit card or line of credit, read the fine print and shop around to find a card that fits your spending habits and financial health.
Must Read: Disclaimer
**If you apply and are accepted for a Fingerhut FreshStart® Credit Account issued by WebBank, who determines eligibility and qualifications for the terms of credit.
*See complete WebBank/Fingerhut FreshStart® Credit Account Terms and Condition. https://www.fingerhut.com/content/FHTCreditTC