Fingerhut FreshStart Credit Account review | finder.com

Review: Fingerhut FreshStart Credit Account – April 2018

This card offers a line of credit for those looking to build their credit while making low monthly payments.

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The Fingerhut FreshStart Credit Account is a line of credit that can be used to purchase items at the Fingerhut online store. This type of account is good for those looking to build or patch up their credit. You can use your Fingerhut FreshStart Credit Account to purchase the best name brands while making low payments with no annual fee and no overlimit fees.

While you’re limited to buying items in the Fingerhut online store, the low payments can be really nice. It’s not like layaway, so you can get your items right away. You’re also more likely to be approved for this type of account, even if your credit is less than stellar.

Product NameFingerhut FreshStart® credit account
APR for Purchases ( Purchase Rate )26.15% variable
Annual fee$0
Card TypeVisa
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 Interest$1
Minimum Credit ScorePoor (Below 660)
Minimum Age18 years of age
Annual fee$0
Returned Payment Fee$38
Late Payment Fee$38.00

The perks

  • No annual fee. Many accounts like this one charge a monthly or an annual fee, but you don’t have to worry about that here.
  • Lower credit score. If your credit has seen better days, it’s likely that you may still be approved for a Fingerhut FreshStart Credit Account.
  • Low monthly payments. Depending on what you buy, you could be making payments as low as $6.99.
  • Good customers are rewarded. For individuals who pay on time and keep their account in good standing, the Fingerhut company will often increase the credit line and you could qualify for the Fingerhut Advantage Revolving Credit Account.
  • Immediate access. As soon as you are approved, you can begin using your account.

The nuts and bolts

What can you expect as far as features are concerned? Fingerhut FreshStart Credit Account offers the following:

  • No Annual fee. No need to pay an annual fee to have access to your account.
  • Interest-free days. The due date of your account will 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 up to $38.00 for late and returned payments depending on the state of your residence.
  • Higher prices. Because you will be making payments with interest on purchases, in many cases you will pay a higher price than at a traditional retailer. You can of course avoid the interest by paying the purchases in full at the end of each billing cycle.
  • Access is limited to Fingerhut. Your credit line is only able to be used within the Fingerhut online catalog.
  • 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 automated by phone.
  • Interest rate. The APR is around 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. They are calculated by multiplying the daily average balance times the monthly periodic rate.

How to apply for the Fingerhut Credit Account

Always consider your options and your financial situation before you apply for a credit card.

Eligibility criteria:

  • 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

Required documents:

  • 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

Bottom line

If you’re looking to get items right away while making low monthly payments, the Fingerhut Credit Account could be an asset for you. Their selection is better than many others that offer similar services, and the added benefit of no annual fee is nice. As with any credit card or line of credit, read the fine print and compare your options before you make a choice.

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10 Responses

  1. Default Gravatar
    KiaSeptember 17, 2017

    I applied for a fingerhut card and was denied is there a difference between a regular card and the fresh start program

    • Staff
      HaroldSeptember 19, 2017Staff

      Hi Kia,

      Thank you for your inquiry.

      WebBank/Fingerhut Advantage Revolving Credit Account and the WebBank/Fingerhut FreshStart Installment Loan. These accounts may require a down payment. If you do not qualify for a WebBank/Fingerhut Advantage Revolving Credit Account, they will attempt to qualify you for a WebBank/Fingerhut FreshStart Installment Loan. Hence, the Advantage Credit Account is a line of credit, and the FreshStart program is an installment loan paid back over time.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    JulioJune 10, 2017

    I went into bankruptcy last year, I wonder because I use to be a member of your store can I get a second chance.

    • Staff
      LiezlJune 18, 2017Staff

      Hi Julio,

      Thanks for reaching out. Just to confirm though, you have reached finder.com -a comparison website and general information service, not actually Fingerhunt.

      To know if you’re still eligible to renew your account, kindly contact Fingerhunt directly by clicking the “Go to WebBank’s Website” button. You can find their contact information under Customer Service tab.

      Alternatively, you can check this page for a list of lenders who might be willing to consider you for a second chance.

      I hope this has helped.

      Kind regards,
      Liezl

  3. Default Gravatar
    ScottieMay 22, 2017

    what items are available for me to buy?

    • Staff
      AnndyJuly 3, 2017Staff

      Hi Scottie,

      Thanks for your question.

      There are numerous categories of items that you can buy at Fingerhut website using this card. Fingerhut sells home furniture, clothing, tools, toys, electronic items, outdoor gears, appliances and more.

      Cheers,
      Anndy

  4. Default Gravatar
    AngelaApril 18, 2017

    I was accepted for a $250 credit limit. I don’t understand about the$30 one time fee. Please explain.

    • Staff
      HaroldJuly 11, 2017Staff

      Hi Angela,

      Thank you for your inquiry.

      While we do not represent any company that we feature on our pages, we can offer you a general advice. With Fingerhut FreshStart Credit Account I don’t think they have “one time fee”. You may be referencing with “$38 Returned Payment Fee”, this is for late and returned payments depending on the state of your residence.

      I hope this information has helped.

      Cheers,
      Harold

  5. Default Gravatar
    RebeccaFebruary 25, 2017

    Can someone tell me? Actually why, when I place my first order on my finger hut fresh start account,No one has accepted my credit card $30 down payment. Would think I might have put something wrong on my account. I would like some figure. Can someone please help me out with this problem. Thank you

    • Default Gravatar
      JonathanJuly 30, 2017

      Hello Rebecca,

      Thank you for your inquiry.

      There are variety of factors why your card may not be accepted. However, the common non-acceptance is because credit Cards are not accepted for payments with the FreshStart® Program.

      Fingerhut FreshStart® credit account issued by WebBank is an installment program. Once approved, you would make a one-time purchase that is a minimum of $50.00 (includes shipping and handling and taxes) and a maximum of your approved credit limit. Afterwards, a $30.00 down payment is required for your order to ship and to continue with the program. This amount will be deducted from your order total. Orders where the down payment is not made in time will be cancelled. The down payment can be made with the following methods of payment:

      – Debit Cards
      – Money Orders
      – ACH or Paper Check
      – CheckFree
      – MoneyGram Payments

      Next is to pay the balance off monthly on-time. Once done, you will be rewarded with a WebBank/Fingerhut Advantage Credit Account that will have a higher credit limit and no down payments.

      You may want to check the T&Cs of this product or speak to their Customer Service for further clarification.

      Hope this helps.

      Cheers,
      Jonathan

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