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Is it possible to build credit while shopping online? It is with Fingerhut!
Fingerhut is an Internet-based retailer that offers many popular branded products in a variety of items. If you are looking for a particular brand of fashion apparel, cosmetics, or electronic gadget, there’s a good chance Fingerhut has it.
The great thing about shopping at Fingerhut is that you will build credit over time whenever you continue to purchase items from the company.
All you need is a membership. However, like other organizations that require membership, approval is needed before you can avail of the benefits.
Keep in mind that not all applications for a membership at Fingerhut are approved. If you apply at Fingerhut one of two possibilities can happen:
- Your application for a WebBank or Fingerhut Advantage Credit Account will be approved.
- If the company does not approve your application for a WebBank or Fingerhut Advantage Credit Account, it will be processed for another product called the Fingerhut FreshStart Credit Account.
Even with the consideration for a Fingerhut Credit Account, there is no guarantee that your application will be approved.
Whenever you transact with Fingerhut, the retailer will send your records to the 3 major credit organizations. So, if your credit isn’t good, shopping consistently at Fingerhut may help it improve.
What Are The Products Offered By Fingerhut?
There are 2 products offered by Fingerhut: the WebBank or Fingerhut Advantage Credit Account and the Fingerhut FreshStart Credit Account.
Your approval will depend on your credit history.
Advantage Credit Account
The WebBank or Fingerhut Advantage Credit Account can only be used with the company and its recognized partners. Your total amount of purchases is limited by your credit limit. Any purchase you make can be paid off over a period of time.
Here the features of a WebBank or Fingerhut Advantage Credit Account:
• No need to pay an annual membership fee.
• Build credit as you make purchases.
• Payment amounts can be manageable; it would depend on the balance of your credit account.
Freshstart
In contrast, the Fingerhut FreshStart Credit Account functions like an instalment loan. Once approved, you can purchase any item that is valued at a minimum of $50 at Fingerhut after you have made a downpayment of $30.
The balance of the item you purchased including all charges can be paid over a period of 6 to 8 months. Paying off the amount in no more than 6 months may qualify you for a WebBank/Fingerhut Advantage Credit Account.
Here are the benefits of using a Fingerhut FreshStart Credit Account:
• No need to pay an annual membership fee.
• You may qualify for a WebBank or Fingerhut Advantage Credit Account if you can pay off your purchases without credit issues.
• Low monthly payments of up to only a few dollars per month can be negotiated.
A Fingerhut Credit Account typically carries the following benefits:
• Monthly reporting to the credit bureaus of your transactions with the company may potentially improve your credit rating.
• No annual membership fees.
• Wide range of monthly payment options.
• If qualified, an immediate decision on your membership application will be made.
• Start purchasing once your membership has been officially approved.
Conclusion
Fingerhut is a fast and easy way to shop online. You can find more than 450,000 products at Fingerhut. It also gives you an opportunity to improve your credit standing.