What are my Fingerhut Credit Account approval odds?

The Fingerhut Credit Card approval requirements are to meet all the general standards, like being at least 18 years old with a U.S. mailing address, SSN, and the ability to pay. Plus, you can get the Fingerhut Credit Card even with bad credit.

It is one of the easiest credit cards to get approved for, and it can help you improve your credit standing if used responsibly. “Even if you have been turned down for credit, give us a try,” Fingerhut Credit’s webpage reads. “We can often say Yes! when others say no.”... read full answer

So, you don’t need any particular score to get the Fingerhut Credit Card. There are a few situations where Fingerhut will have to say no, though. Being in the middle of bankruptcy is one of them.

Here are the Fingerhut Credit Card approval requirements:

• Applicants with bad credit can be accepted
• 18+ years old
• United States mailing address
• Social Security number (SSN)
• Enough income or assets to afford monthly payments
• No active bankruptcy
• Not a member of a consumer credit counseling service
• No past-due minimum payments while in the Fingerhut FreshStart program
• No foreclosure, tax liens or other derogatory marks on your credit

As long as you avoid the negatives, you should have a good chance of Fingerhut Credit Card approval. And the best part about the process is if you’re not qualified for the card, Fingerhut might instead enroll you in their FreshStart program.

With this program, you’ll be able to make a Fingerhut purchase between $50 and the spending limit they give you. You must make a down payment of at least $50 toward the balance, and then pay off the rest in the time limit they specify after (usually a few months). After you finish paying the balance off, as long as you weren’t late with any payments, you’ll graduate to the regular Fingerhut Credit Card. The FreshStart program doesn’t report to the credit bureaus, but the regular account you’ll get afterward does.

Pros and Cons of the Fingerhut Credit Card

A Fingerhut Credit Card is easy to get approved for and it’ll help you rebuild your credit. And to top it off, there’s a $0 annual fee. But the only issue is that you can only use the card for Fingerhut purchases. If you’re looking for a card you can use anywhere, there are several good options available.

Ultimately, if you’d like to get more information about your credit standing before you apply, you can check your latest credit score for free on WalletHub, the only website where credit scores and reports update daily.

Getting a Fingerhut pre-approved credit offer means you have a roughly 90% chance of being approved for the Fingerhut Credit Account if you decide to apply. You will only receive such an offer after the account’s issuer – WebBank – has done a harmless soft check of your credit and determined that you meet the basic eligibility criteria. Even if you have no interest in shopping at Fingerhut, which sells goods online and through a catalog, you still might want to apply. Despite its somewhat unusual name, the Fingerhut Credit Account is just like any other store credit card in the sense that it reports account information to the major credit bureaus each month. That means whether you make purchases and pay your bill on time every month or ... read full answernever actually buy anything, the Fingerhut Credit Account will help you improve your credit score.

You don’t need to get Fingerhut pre-approval before applying, though. And even if you have bad credit, your odds of success are still pretty good. Fingerhut is one of the easiest credit cards to get that doesn’t require you to put down a refundable security deposit.

So pre-approval isn’t a prerequisite. But it’s definitely nothing to worry about, either. Pretty much all credit card companies send out pre-approval offers. And getting one from Fingerhut could be your ticket to a higher credit score. That’s why it’s important to know what it means and how to react. And to help in that regard, we’ll summarize what you need to know below.

Here’s how Fingerhut pre-approved credit offers work:

• You Have to Be Invited: You can’t just go and check whether you pre-qualify. The only way to know you’re pre-approved for Fingerhut Credit is to receive a letter from them.
• You Can Apply by Mail or Online: Either complete the paper application included in your pre-approval letter or enter your “Pre Approved Customer Number” at the top of Fingerhut’s online application.
• There’s a Consolation Prize: If you don’t end up getting approved, Fingerhut might offer you a place in their FreshStart program, where you get an installment loan for a Fingerhut purchase. If you pay it back on time, you graduate to a credit account.

So in conclusion, the Fingerhut Credit Account is already pretty easy to get, receiving a pre-approved offer means your odds are even higher than usual, and getting approved is the first step toward rebuilding your credit. The account will help even if you don’t make any purchases.

If you’d like to see your credit status before applying, you can check your latest credit score for free on WalletHub, the only site where credit reports and scores update daily.

Yes, the Fingerhut Credit Card will do a hard pull. You can apply for it with no credit though. It has a lower credit-score requirement than most store cards, so you may be able to qualify with bad credit if you have a steady income and not too much debt.

There is no way to get pre-approved for the Fingerhut Credit Card. A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people’s scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months. You can learn more about how to minimize the credit score damage here.