Looking for easy ways to rebuild your credit score after a bankruptcy?
There are lots of ways to rebuild your credit score after bankruptcy. One of the easiest and least expensive ways that I’ve seen is to open an account with a store/catalog sales site like Fingerhut.
How will Fingerhut help your credit score after bankruptcy?
Unlike a lot of store/catalog sites, Fingerhut actually has what’s called the FreshStart program, and it’s specially designed for people with bad credit. Even if you don’t qualify for a regular revolving credit account with Fingerhut, you may still qualify for the FreshStart program.
What is the Fingerhut FreshStart program?
Fingerhut’s FreshStart program is a special type of account where you place an order and then make what is essentially your first payment on the account. Fingerhut will then ship your order and you’ll continue to make payments on the balance. Eventually, if you make timely, regular payments on the account, your account may be considered for conversion to a revolving charge account, and over time you will likely see your available credit increase.
The Fingerhut FreshStart program can help your credit in two ways:
- Your timely, regular payments will be listed on your credit report, thereby helping you to start to rebuild your payment history.
- Your available credit will be reported as well, and in the event that your credit limit is increased, that will also be reflected. Just make sure that you keep your “available credit” around 75% of your total credit limit, because that is a very important factor in calculating your credit score.
And finally, there is another reason to consider Fingerhut – buying power!
Let’s face it, when you have no credit, it’s really hard to buy anything. Luckily, Fingerhut offers a great selection of name brand merchandise at highly competitive prices, and the prices are listed two ways on their website – the full price is shown AND they show you the monthly payment amount, so you know how much you’ll have to pay each month before you buy.
Think a Fingerhut Credit Account issued by WebBank
might be the right choice for you?
(Trust me, you’ll LOVE the selection & the prices at Fingerhut!)