Fingerhut Credit Account

Fingerhut Credit’s approval requirements aren’t public – at least not the specifics. You’ll need 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. But this much is clear: The Fingerhut Credit Account is one of the easiest “credit cards” to get approved for, and it can help you improve your credit standing if used responsibly. You even have good odds of getting it if you’ve made mistakes in the past, as Fingerhut accepts applicants who have bad credit. “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.”

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

Here are the Fingerhut Credit approval requirements:

• 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 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 Account. The FreshStart program doesn’t report to the credit bureaus, but the regular account you’ll get afterward does.

So a Fingerhut credit account is easy to get approved for and it’ll help you rebuild your credit. And to top it off, there’s no 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, a good option might be the OpenSky® Secured Visa®, because it doesn’t even do a credit check. 

And 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.

You can’t request a Fingerhut credit increase, unfortunately. But Fingerhut may give you one if you consistently pay your bills on time and improve your credit status. 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 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 increase. We’ll highlight them below.

Here’s how to get a Fingerhut 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.

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.

Fingerhut credit was designed to be used for Fingerhut merchandise which accounts for more than 450,000 products, including the brand names like Samsung, Dyson, Skechers and KitchenAid. You'll find electronics, jewelry, shoes, furniture and decor items. However, an additional feature of the Fingerhut credit accounts is the chance to use spending power outside of Fingerhut’s catalog and website.
Among the select partners that honor Fingerhut credit accounts are florists and insurance companies. These partnerships change, and Fingerhut will notify you of your eligibility to participate once your credit application is accepted.

Yes, it's called Safeline. It's not on by default, you have to opt-in and pay a premium for it, but it will clear the balance in case of death, hospitalization, and a couple more serious situations.
You can read more about it here: https://www.fingerhut.com/content/SafelineTC

I can tell you that it's about a year before you can worry about it. I got one, forgot about it and received a warning the mail that they were going to close the account due to inactivity. So yeah, maybe make a purchase once every couple of months, and you'll be fine.