Should You Apply for That Credit Card?

With the holidays rapidly approaching, your mailbox is probably stuffed with catalogs, credit card, and loan offers, but should you apply for that new credit card, order from that catalog (with the promised credit line), or should you cash that short term loan check?  Granted, money is always tight around the holidays, and affording all of the extra expenses would be a lot easier with a clean line of credit, but what should you look for before you apply?

Make sure you’ll actually qualify for the offers!  One of the most important things to remember when looking at any new credit line, be it a catalog shopping site like a Fingerhut Credit Account issued by WebBank, or a new credit card, or a personal loan, is whether or not you will actually qualify once you actually begin the application process.  Remember, most of those “prequalified” offers are just that – the lender has purchased a list of potential candidates based on your demographic group (your location, age group, income level, etc.), but they have most likely not pulled your individual credit report to see if you would actually qualify once you complete the application process.  So, before you even consider the offer, you should check your own credit report to make sure your credit score would likely qualify you for the offer that you are considering.

Should you fill out the application and mail it back in or should you simply go to the website and complete the application online?  While you might worry about completing an application for credit online, it’s actually safe in most cases to apply online, and instead of waiting for a response in the mail, you’ll most likely find out fairly quickly if you do complete the application online.  Reputable credit card companies, loan providers, and catalog shopping sites have ample safeguards in place to protect your personal information, so it’s usually safe to visit most sites.  (However, this is not the case for most of the offers you receive via email – links in emails are extremely vulnerable to identity theft and you should never click on a link received within an email.  ALWAYS visit that creditor’s site using your browser instead.)

Research all of your options before you apply for any of them.  Just because you received a prequalification offer in your mailbox does not necessarily mean that this the best credit card for you to accept.  Take a look at the fine print… What’s the interest rate?  Are there any additional benefits (rewards, points, introductory rates)?  What is the typical credit score needed to qualify for the offer?  How are charges handled?  What happens if you dispute a charge?  What happens if you fall behind?  What are the over limit fees?  Late fees?

Once you’ve studied all of the fine print, then it’s a good idea to compare the offer with other offers that you are likely to qualify for to see if the card really is a good fit for you.  Then and only then do you actually want to apply for the credit card, place an order with the catalog shopping company, or accept that loan offer.

Can’t Get a Credit Card?

If you’ve had a serious financial setback, it can really hurt your credit score… even to the point that you may not be able to get a conventional credit card.  And if that’s the case, it can be very difficult to get your credit back on track.

First and foremost, you’ll want to try and clear up the worst of the mess you’ve made of your credit score.  Pay off as many of your delinquent accounts as possible, dispute any errors that you find on your credit report, and start trying to rebuild your credit as soon as you can.  But, how can you rebuild your credit if no one will give you an actual credit card?

Actually, there are a couple of good, solid options when you can’t get a conventional credit card –

 

Apply for a catalog shopping card, such as a Fingerhut Credit Account issued by WebBank . Catalog cards, and Fingerhut in particular, make it their business to work with customers who may not be able to get credit anywhere else. And even if you aren’t approved for a regular Fingerhut account, you may still qualify for their “fresh start” credit program, which would require you to put down a small deposit with your first order.  Either way, with Fingerhut, you’ll be able to shop from among hundreds of thousands of reasonably priced, name brand products, with competitive pricing, and an interest rate that is inline with other catalog shopping sites.  Plus, Fingerhut reports your responsible purchase and payment history to the major credit bureaus, so you can improve your credit score and still have the purchasing power you need.  From personal experience, I’ve seen what opening a Fingerhut credit account can do to help you improve your credit score, and I highly recommend this option.

 

Get a secured credit card.  Getting a secured credit card is the guaranteed way to have a credit card, even though it’s not exactly a conventional credit card.  With a secured credit card, you’ll have to deposit money up front, and then the credit card provider will issue you a credit card with a credit limit that is typically equal to the amount of your security deposit.  You’ll then use the credit card just like a conventional card, making payments towards any purchases you make, and they, in turn, will report your responsible use and good payment history to the major credit bureaus.  Most secured cards have a very reasonable interest rate and many even convert to a conventional credit card after a certain period of time.

 

Either way that you choose to go, or perhaps both ways if you have the ability to do so, you will see the improvement that you need to see in your credit score as long as you demonstrate responsible usage of the credit that you get.  Just remember, it takes time and determination to get back on track once you’ve had financial problems, but it can and it must be done!

Christmas Shopping?

With the unseasonably cool temperatures over most of the country, it’s beginning to feel like Autumn… Already there are ads running for fall decorating, pumpkin spice everything arrives in just a couple of weeks, and you know that Christmas isn’t far behind (about 137 days or so, to be exact).

Have you given any thought to how you’ll be able to afford Christmas shopping this year?

Like it or not, the Christmas shopping season is literally almost upon us – or at least upon those of us who start shopping in September rather than wait until the last minute.  What about you?  Will you be an early shopper this year?  Or will you wait and hope for a money miracle?  Personally, rather than wait for an unexpected windfall, I’d much rather plan ahead, order as much as I can online, and then sit back and actually enjoy the season once it actually arrives.  And a large part of that planning (and shopping) usually involves Fingerhut.

Unlike a lot of catalog shopping sites, Fingerhut has thousands of name brand, popular products available at competitive prices, and even better, they list the monthly payment amount right alongside the full cash price of the item, so you can see how your purchases will fit into your budget after the holidays have come and gone… there will be no ugly surprises come January!   And, just like most other shopping sites, Fingerhut has sales, special offers, and even promo codes, so you can really get some good deals if you shop as carefully as I do.

Fingerhut even has a giant Christmas catalog that they’ll send you in the mail once you sign up for an account.  (Honestly, their catalog reminds me of the big “wish” books of years gone by – there are so many things to choose from.  Toys, electronics, clothing, shoes, home furnishings, holiday decor, and more!)

And, that’s not all.  With Fingerhut, it’s easy to fill out the application (just answer a few simple questions), get approved (most people do), and start shopping today!

Worried you won’t be approved for a Fingerhut Credit Account issued by WebBank ?

Unlike a lot of places, Fingerhut really works with those of us with less than perfect credit. Not only do most people get approved for a Fingerhut Credit Account issued by WebBank , but a Fingerhut account can actually help you improve your credit score, first by reporting your regular payments to the major credit bureaus and secondly, by extending credit in the first place (giving you that all important “available credit” that accounts for about 30% of your credit score).

So go ahead, apply for your Fingerhut Credit Account issued by WebBank and get started on your Christmas shopping today!

Back to School Shopping?

Back to school shopping can get really expensive… Between buying the kids new clothes, new shoes, new computers, tons of school supplies, and then paying ALL those fees when you actually enroll them in school, it can really wreck your budget!  I mean really, who has that much cash put back just for back to school shopping?

This year, instead of draining every penny out of your budget (right before the holidays), why not shop the smart way?  Get yourself a Fingerhut Credit Account issued by WebBank and shop for everything online!

Not only does Fingerhut carry hundreds of thousands of products, but these are trusted, name brand products… you know, the popular things… this year’s hot new sneakers, or that particular shirt. And let’s not forget the electronics! From laptops to cell phones to the latest game console, if you’re looking for electronics, Fingerhut has them!  All at competitive prices that won’t wreck your budget.  (With Fingerhut, you even know the monthly payment amount of every item BEFORE you buy it, so you can plan the amount that you’ll need to pay back!)

You can literally get almost everything on your back to school list without ever leaving your house… and, once you’ve placed the order, you just sit back and in a few days, Fingerhut will deliver it right to your door!  What could be easier?

So, go ahead, take this year’s back to school shopping list, apply for a Fingerhut Credit Account issued by WebBank , and stop worrying about where the money is going to come from!

(And if you’re sending one off to college this year, be sure and check out Fingerhut’s complete line of dorm room must haves!)

What is My Credit Utilization Score?

So, you’ve been paying attention to your credit scores, and you understand the payment history, age of accounts, and other stuff, but do you know what the Credit Utilization score on your credit report means?  Credit utilization is exactly what it sounds like, it’s how much of your available credit that you are currently using.  You can calculate your credit utilization by taking the total amount of credit that you have available on all of your credit cards and dividing it by the balance owed on all of the cards.


For example, let’s say you have a credit card with a $1,000.00 credit limit, but you’re carrying a balance of $600.00 on the card – that means you’re using 60% of the total available credit that you have with that credit card provider, which may not seem too bad to you, but to a potential lender, it means you’re using the majority of your available credit.  If your credit cards are maxed out, you’re using 100% of your available credit, also not a good thing.

Typically, you want to use 30% or less of your total available credit at any given time, and if at all possible, you want to break that down even further and use only 30% of your total available credit on any individual account, as well.  (Unbelievably, some creditors and credit bureaus also look at individual credit cards now, too!)  Using more than 30% of your available credit actually brings your credit score down a few points to a lot of points because your credit utilization score accounts for 30% of your total credit score.

So what can you do to better your credit utilization score?  Ideally, you should pay off all of your credit cards every month, but in the event that you can’t, you might want to consider getting another credit card to increase your available credit – that credit card can be a balance transfer card, a regular credit card, or even a catalog shopping card (like a Fingerhut Credit Account), just as long as you don’t go overboard when applying for new credit cards, and just as long as you don’t run up a new bill on your new credit card!

Note:  Your Credit Utilization Score only includes your revolving credit accounts.  Any mortgage or automobile loans are not taken into consideration.

Rebuilding Your Credit Can be Easier Than You Think

Worried that your bad credit score will never go away?  Maybe your credit score is so low that you think it’s useless to even try to rebuild it because it will never happen?  Believe it or not, there are millions upon millions of people who are or have been in the same boat you’re in.  It really doesn’t take much to ruin your credit when you think about it… you lose your job and have no way to pay your bills, you get a divorce and your former spouse ruins both your credit scores, you have a serious or even catastrophic illness and can’t work… it happens.  But, once you’re back on your feet, what can you do to turn around your credit score?

Well, obviously, if there are any old bills that are unpaid or in arrears, the first thing you want to do is to get them paid up to date or paid off, whichever you can afford to do.  And you need to keep the payments on those bills current so that you can start rebuilding your payment history, and hopefully, your available credit may improve, depending on whether or not you still have open credit lines on any of your credit cards.

But, what if you have no credit whatsoever?  What then?  How do you begin to rebuild credit when you have absolutely no credit?

Although it is really hard to get credit when your score is at it’s lowest point, it can be done.  Here’s an option to consider if you want to rebuild your credit without having a family member put you on one of their credit cards, cosign for you, etc.:

Secured Credit Cards:  Secured credit cards are one of the easiest ways to get an actual credit card when absolutely no one will give you a credit card.  Yes, you do have to put up a security deposit that’s typically equal to the line of credit that you’re requesting, but the security deposit will simply sit in an account and you’ll use the card exactly as you would a credit card.  You’ll make purchases on the card, you’ll be charged interest, and you’ll make payments on the card.  In turn, the credit card company will regularly report your available credit and your good payment history to the credit bureaus, thus helping you to get back on the road to a better credit score.  Are there downsides to secured credit cards?  Of course there are, but if you’re serious about rebuilding your credit score, then the downsides will be minimal.  And you can shop around – some secured credit cards are definitely better than others!

Rebuilding your credit can be done and it doesn’t have to take forever, either.  You just have to get started, be diligent, and it will happen!

Easiest Way to Save $25.00

 

Looking for an easy way to save $25.00 on your first Fingerhut order?

How about a brand new Fingerhut promo code just for signing up for an account with Fingerhut?  It’s as easy as answering a few questions, picking out what you want, and clicking Submit.  Didn’t get what you wanted for Christmas?  Want to do a little redecorating for spring?  Maybe you’re already planning that next big gift giving occasion…Someone’s birthday?  Valentine’s Day?  Graduation?  Whatever you’re looking for – you can get it and more at Fingerhut!  And, if you order now, you’ll save $25.00!

Simply enter NC473 when you place your order of $100.00 or more and you’ll immediately save $25.00 on your order of name brand, reasonably priced, quality merchandise delivered straight to your door.  Haven’t shopped Fingerhut lately?  Then you haven’t shopped!

But you’d better hurry… this Fingerhut promo ends January 31st!

Save $50 & Shop Fingerhut this Christmas!

Looking for a great way to buy this year’s Christmas gifts and save some money while you’re at it?  

Maybe you’re a little strapped for cash this year but can’t let the kids go without at least a few of the things on their wish list?  No matter what your circumstances are, we’ve got the answer to your Christmas shopping dilemma AND we can save you a quick $50.00 while we’re at it!

How can you get your Christmas shopping done AND save $50?  

Well, that part is actually pretty simple – just sign up for a Fingerhut account through this link and use the promo code NEW50 when you check out.  You’ll get an instant $50 off your first order of $200 or more.  That’s a 25% discount.  You won’t find that deal anywhere this year… even if you were to go out shopping on Black Friday!

But, what about this year’s hot new toy?  Or the cool electronic gadget?  Or those brand new name brand tennis shoes?  

Relax, Fingerhut offers the hottest, newest, name brand items… everything from stylish new clothes to the hottest electronics to the newest trends in home decor!  If it’s on someone’s wish list, chances are it’s on Fingerhut’s website,  and you’ll know up front, before you buy, just how much you’ll need to pay each month.  (And you can pay the minimum payment, in full, or as much as you want each month.)

Still not convinced?  Check out all that Fingerhut has to offer you this year:

Fingerhut Promo Code: The Easiest $25.00 You’ll Save This Christmas!

Looking for a great way to pay for this year’s Christmas gifts and save some money?

Look no further than Fingerhut!  That’s right, Fingerhut has a new promo code that will save you $25.00 off your very first order of $100 or more.  That’s like getting at least one Christmas gift on your list absolutely free!  And Fingerhut really has some great things to choose from… quality, name brand merchandise at truly competitive pricing.  Choose from a fantastic selection of clothing, jewelry, home furnishings, electronics, toys and more!

Think you won’t qualify for a Fingerhut account because of your credit?

Think again!  Fingerhut approves nearly everyone for at least $300.00, and those who aren’t approved usually qualify for the Fingerhut Fresh Start program which not only offers you the credit you need, but can also help you to improve your credit score!

So how do you get this $25.00 credit on your first order?

It’s easy, simply fill out the online application (takes about five minutes), and once you’re approved, just use the promo code NEW25OFF with your first order!  That’s all there is to it!  Now, go on…


 

Fingerhut: Catalog Shopping Made Easy

What’s the best catalog shopping site?

There are lots of catalog shopping sites, including a couple with an online “rent to own” business model, at least one with a standard monthly “fee” that replaces any interest charges, and still others that want to be like the original catalog shopping site, Fingerhut. We’ve even reviewed a couple of the newer ones, and while we like the “rent to own” business model, the best true catalog shopping site is still Fingerhut.

What makes Fingerhut the best catalog shopping site?

In an actual side by side comparison, we discovered several reasons why Fingerhut is still the best:

    • Fingerhut gives you all of the details up front! Not only were we able to confirm what the actual cash price for the item was, but we were also able to see the regular payment rate, the number of payments, and the full price of the item simply by using a handy chart that is available at the click of your mouse.
    • Fingerhut’s actual cash price is significantly lower for regularly priced items. The differences in prices on our comparison items ranged from a few dollars to as much as 30% higher than other comparable catalog shopping sites.
    • Fingerhut’s interest rate is highly competitive, not just with other catalog shopping sites, but also with traditional credit cards’ interest rates. In fact, the interest rate at Fingerhut is actually LESS than many credit cards these days, so you may actually save some money by purchasing through Fingerhut instead of using a credit card to purchase the exact same product.
    • Fingerhut is the only catalog shopping site that offers consumers a second chance in the event that you don’t qualify for a traditional Fingerhut account. With a mere $30.00 deposit on your first order, you can still qualify for an account under their FreshStart program!
    • Fingerhut typically starts out customers with poor credit at a $300.00 credit limit, however, once you’ve placed your order and made regular payments over a period of time, most customers end up with a significantly higher credit limit, and many qualify for the Fingerhut Major Purchase Program, where you can purchase furniture, appliances, and other high end items at reasonable prices with extended payment terms.
    • As always, with Fingerhut there is no penalty for paying the balance of your account off early, and the total amount due is always readily available on your monthly statement.

Interested in opening a Fingerhut account of your own?

It’s far easier than you realize to qualify for Fingerhut.  The application is quick, easy, and secure and most people get an answer in less than a minute.  Go ahead – open your account today:

Find out instantly if you’re pre-approved with Fingerhut Credit.