WebBank Credit Cards

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 never 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.

The usual requirements for a Fingerhut Credit Card credit increase are to consistently pay your bills on time, pay more than the minimum amount, and improve your credit status. Unfortunately, you cannot request a credit limit increase on your own, but Fingerhut will keep tabs on your payment status and overall credit standing and may increase your spending limit if you manage your current financial obligations responsibly. If you're granted a Fingerhut Credit Card credit increase, you'll be notified through mail and/or email.

Although you can't just ask for a higher limit, there are a few steps you can take to improve your chances of receiving a Fingerhut Credit Card credit increase. We'll highlight them below.

Here's how to get a Fingerhut Credit Card credit increase:

• Always pay on time. This is the most important element. Consistent on-time payments are the key to getting more buying power and improving your credit score. And late payments will immediately disqualify you from an increase.
• Pay more than the minimum. If you make more than the minimum required payment on your FingerhHut Credit Account each month, you'll not only improve your chances of a limit increase, but you'll pay less interest as well.
• Rebuild your credit. This includes lots of activities, like paying down any debts you have, only using around 30% of any other credit lines and saving money for emergency use so you don't fall any further behind. You can also sign up for a free WalletHub account to get access to a personalized credit analysis, which will tell you what to fix and how long it will take.

If Fingerhut decides to increase your credit limit, they will send you an email, mail you a letter or both. You should have increased buying power right away. It's also worth mentioning that some users report being offered a temporary credit increase that becomes permanent if you make a big purchase. But there's nothing about that on the Fingerhut website.

Finally, if you qualify for a higher limit with Fingerhut, you might also be able to get a card with better terms that you can use anywhere, rather than at a single retailer. Just keep that in mind.

There are no other places like Fingerhut for bad credit. The Fingerhut Credit Account is an online store credit card marketed to people with bad credit. You can only use it for Fingerhut purchases, but it is one of the easiest store cards to get. By comparison, you'll need at least fair credit to qualify for a store credit card from most retailers, including Amazon, Target and Walmart. And the Montgomery Ward Credit Account accepts people with bad credit but won't help you build credit because it does not report to the credit bureaus.

While there aren't any other places like Fingerhut for bad credit, there are even better options. Several credit cards are co-branded with a merchant but usable anywhere, and they're just about as easy to get as the Fingerhut Credit Account. For example, the Discover it® Secured Credit Card offers cash back on all purchases. Moreover, Discover will automatically match all the cash back you've earned at the end of your first year. This card also comes with a $0 annual fee and requires a $200 minimum security deposit.

There's also a co-branded unsecured card for bad credit, the Credit One Bank® NASCAR® Credit Card. This card also offers cash back on eligible purchases. The card's annual fee is $39 - $99.

You can apply for a Fingerhut credit card on the Fingerhut website or over the phone. There is no way to apply by mail. To apply for a Fingerhut credit card online, just fill out the online application with your full name, address, phone number, Social Security number, date of birth, annual income, and email address. Once you submit your application, you should receive an instant decision.

To apply for a Fingerhut credit card over the phone, call 800-233-3588. The automated system will prompt you to press a certain number if you're interested in becoming a Fingerhut customer. This will transfer you to a representative who will help you apply for the Fingerhut credit card.

If you've already applied for the Fingerhut credit card and you want to talk to someone about the status of your application, call the Fingerhut customer service line at 800-208-2500.

People with bad credit can get approved for the Fingerhut Credit Account. It's designed to help people rebuild their credit. The downside is that you can only use the credit line at the Fingerhut online store, but it's still a cheap way to rebuild damaged credit compared to other unsecured credit cards.

WebBank is a financial services company that partners with other lenders and a range of popular brands to provide credit cards, personal loans, small business loans, and auto loan refinancing. WebBank also offers deposit banking products, including savings accounts and “time deposits” (basically a CD).

Here's some more info about WebBank:

Some of WebBank's most notable products and partnerships include the Petal® 2 Visa® Credit Card, the Fingerhut Credit Account, and personal loans through Lending Club. With the Petal 2 Card, for example, WebBank partners with a start-up called Petal, Inc. – WebBank issues the card, and Petal, Inc., services the account. WebBank's relationship with LendingClub is a bit different. Loans arranged via LendingClub are issued by partner banks. WebBank is the partner that issues LendingClub's personal loans and auto refinancing loans.  

WebBank has been around since 1997. But most consumers still are not familiar with them because most of WebBank's most popular offerings don't include “WebBank” in their name. WebBank is based in Salt Lake City, Utah.