How to Build Credit with Fingerhut

If you’ve been wanting to make a big purchase, but your credit is less than spectacular, you might have looked into Fingerhut as an option. 

Fingerhut is an online catalog and retailer that showcases a multitude of products. On this website, customers can shop for anything from electronics to home décor to auto parts. Fingerhut offers financing through their own line of credit, making it appealing to shoppers with poor credit or a nonexistent credit history. Many consumers have a better chance of getting approved by Fingerhut, than they might have of getting approved through most other credit card companies. It’s an option worth looking into if you want to improve your credit score through credit utilization.  

The major difference between Fingerhut and credit cards that cater to low credit scores is that Fingerhut credit is exclusively available for use with its own company’s products and authorized partners. You’ll also find that the company’s products are pricier than they would be through most other retailers, while also bearing the weight of higher interest rates. While it might seem like a good idea if you don’t have good credit, it’s best to familiarize yourself with the ins and outs of the company beforehand so that you know what you’re signing up for. 

How Fingerhut credit works

When you apply for a Fingerhut credit account, you can get approved by one of two accounts:

  • WebBank/Fingerhut Advantage Credit Account.
  • Fingerhut FreshStart Installment Loan issued by WebBank.

As it happens, by submitting your application, you are applying for both credit accounts. Applicants will be considered for the Fingerhut FreshStart Installment Loan issued by WebBank as a direct result of being denied for the WebBank/Fingerhut Advantage Credit Account. In other words, you won’t have a way of knowing which one you will be approved for prior to applying. Both credit accounts are issued by WebBank and are set up so that customers can purchase merchandise by paying for them on an installment plan with a 29.99% Annual Percentage Rate (APR). These are the only things that the different Fingerhut credit accounts have in common.

The WebBank/Fingerhut Advantage Credit Account

The WebBank/Fingerhut Advantage Credit Account works very much like an unsecured credit card, except that it’s an account that you can only use it to shop on Fingerhut or through its authorized partners. 

This credit account features:

  •  No annual fee.
  • A 29.99% interest rate.
  • A $38 fee on late or returned payments.
  • A possible down payment; it may or may not be required. You won’t know prior to applying. 

If you get denied for this line of credit, your application will automatically be reviewed for the Fingerhut FreshStart Credit Account issued by WebBank, which is both structured and conditioned differently.

Fingerhut FreshStart Installment Loan issued by WebBank

If you get approved for the Fingerhut FreshStart Installment Loan, you must follow these three steps to activate it:

  • Make a one-time purchase of no less than $50.
  • Put a minimum payment of $30 down on your purchase, and your order will be shipped to you upon receipt of your payment. You may not use a credit card to make down payments, but you can use a debit card, check, or a money order. 
  • Make monthly payments on your balance within a span of six to eight months.

You can become eligible to upgrade to the Fingerhut Advantage Credit Account so long as you are able to pay off your balance during that time frame or sooner without having made any late payments. Keep in mind that paying for the entire balance in full at the time you make your down payment will result in you not qualifying for the loan as well as being ineligible for upgrade. 

How a Fingerhut credit account helps raise your credit score

The fact that it can help you improve your credit is one of the biggest advantages of using a Fingerhut credit account. 

When you make your payments to Fingerhut in full and on-time, the company will report that activity to the three major credit bureaus. This means that your good credit utilization won’t go unnoticed nor unrewarded. If you use Fingerhut to improve your credit score, you will eventually be able to apply for a credit card through a traditional credit card company—one where you can make purchases anywhere, not just at Fingerhut. 

Additional benefits of a Fingerhut credit account

Besides using it as a tool to repair your bad credit, there are a few other benefits to using a WebBank Fingerhut Advantage Credit Account such as:

  • No annual fee.
  • Fingerhut has partnerships with a handful of other retailers, which means you can use your Fingerhut credit line to make purchases through a variety of companies. Fingerhut is partnered with companies that specialize in everything from floral arrangements to insurance plans.
  • There are no penalties on the WebBank Fingerhut Advantage Credit Account when you pay off your balance early.

How to build credit with Fingerhut

Fingerhut credit works the same way as the loans from credit card companies work: in the form of a revolving loan. 

A revolving loan is when you are designated a maximum credit limit by your lender, in which you are allowed to spend. Whatever you spend, you are expected to pay back in full and on-time through a series of monthly payments. This act of borrowing money and paying off bills using your Fingerhut account causes your balances to revolve and fluctuate, hence, its name. 

Your credit activity, good or bad, gets reported to the three major credit bureaus and in turn, will have an effect on your credit report. Revolving loans play a large role in your credit score, affecting approximately 30% of your score through your credit utilization ratio. If your credit utilization ratio, the amount of available revolving credit divided by your amount owed, is too high then your credit score will plummet. 

When using a Fingerhut account, the goal is to try to keep your amounts owed as low as you possibly can so that you can maintain a low utilization ratio, and as a result, have a higher credit score.

Alternatives to Fingerhut

If you’ve done all your research and decided that Fingerhut isn’t the right choice for you, there are other options that might serve you better, even if you have bad credit. There are a variety of secured credit cards that you can apply for such as:

  • The OpenSky Secured Visa Credit Card: You will need a $200 security deposit to qualify for this secured credit card, but you can most likely get approved without a credit check or even a bank account. It can also be used to improve your credit, as this card does report to the three major credit bureaus. While this card does come with an annual $35 fee, you can use it to shop anywhere that will accept a Visa. 
  • Discover it Secured:  For all those opposed to paying an annual fee of any sort, this card might just be the one for you. With a $0 annual fee and the ability to earn rewards through purchases, there’s not much to frown about with this secured credit card. One of the best perks, is that it allows you the chance to upgrade to an unsecured card after only eight months. 
  • Deserve Pro Mastercard: This card is a desirable option for those with a short credit history. There is no annual fee and no security deposit required and, if your credit history isn’t very long-winded, that’s okay. The issuers for this card may use their own process to decide whether or not you qualify for credit, by evaluating other factors such as income and employment. This card is especially nifty because you can get cash-back rewards such as 3% back on every dollar that you spend on travel and entertainment, 2% back on every dollar spent at restaurants, and 1% cash back on every dollar spent on anything else. 

Final Thoughts 

Fingerhut is an option worth looking into for those with bad credit or a short credit history. If you want to use a Fingerhunt credit account to improve your credit score, be sure to use it wisely and make all of your payments on time, just as you would with any other credit card.

Even though it might be easy to get approved, the prices and interest rates on items sold through Fingerhut are set higher than they would be at most other retailers, so it’s important to consider this before applying. 

There are a ton of options available, regardless of what your credit report looks like, if you are trying to improve your credit. If the prices of Fingerhut’s merchandise are enough to scare you away, you might want to consider applying for a secured credit card. 

How to Build Credit with Fingerhut is a post from Pocket Your Dollars.

Source: pocketyourdollars.com

Here Are 9 Options for Finding Free or Cheap Audiobooks

Though I own hundreds of books, I rarely find time to sit down and crack one open. I do, however, make use of my time in the car to listen to audiobooks.

But how do you get the audiobooks you want without paying a lot of money? There are a number of audiobook services available, but the options can be overwhelming.  Finding the right audiobook service is a matter of finding the right one for how you like to read.

9 Services for Cheap Audiobooks

Here’s our rundown of some of the best services where you can grab a book for your ears.

1. Audible

Audible is a big name in audiobooks. As a part of Amazon, it’s heavily marketed and easily available, but it has its pros and cons.

Pros

  • Audible boasts one of the largest audiobook libraries out there with more than 600,000 titles and 100,000 podcasts, according to a company spokesperson. Whatever you like to read, you can probably find it on Audible.
  • You get to keep any titles you read even if you cancel your subscription.
  • Your membership also gets you access to a number of podcasts, as well as subscriptions to The New York Times, The Wall Street Journal and The Washington Post.
  • You also get daily deals and an extra 30% discount on additional book purchases.
  • You can download the books you choose and listen offline.
  • You can try Audible out with a no-cost, 30-day trial period.

Cons

  • Audible is a subscription service with five different subscription plans, the cheapest being $7.95 per month. At that lowest tier, though, you are unable to earn extra credits, and you won’t get discounts on premium selection titles or access to exclusive sales.
  • The other membership plans are pricy. They include monthly subscriptions of $14.95 for one credit per month or $22.95 for two credits per month. Annual plans are also available; they cost $149.50 for 12 credits per year or $$229.50 for 24 credits per year.
  • Unused credits expire after one year. They also expire when you cancel your membership.

2. Audiobooks.com

Audiobooks.com is another subscription service, much like Audible.

Pros

  • Very large selection with over 200,000 titles.
  • Access to over 88 million podcast episodes for free.
  • Your subscription includes one book per month.
  • You can buy extra credits as needed. One credit equals one book.
  • You get free extra VIP books each month with no additional charge. VIP titles are older, less popular books, but they aren’t all obscure. For example, one book currently on the list is Robert Louis Stevenson’s “Treasure Island.”
  • With a  free 30-day trial you get one book free and can also select from the VIP collection.
  • You can stream books or download so you can listen offline.

Cons

  • It’s expensive at $14.95 per month.
  • VIP titles are limited and may not be of interest to you.

3. Scribd

A woman listens to something on her headphone while laying on a bean bag chair.

Scribd is a subscription service that allows you to access “unlimited” audiobooks and also offers features like ebooks, podcasts and even sheet music.

Pros

  • At $9.99 it’s cheaper than Audiobooks.com and you get to listen to as many books as you want.
  • There are a lot of extras like Kindle books, magazines and even sheet music available with your subscription.
  • It includes a 30-day free trial.

Cons

  • The term “unlimited” isn’t 100% accurate. Users in the iPhone app store complain that after two or three popular books, your ability to read new and popular titles  becomes very limited for the rest of the month.
  • You’re renting rather than buying the books, so you cannot keep them.
  • The platform is not loaded with extras like some of the other services.

4. Downpour

For $12.99, subscription service Downpour gives you one credit (good for any one book) per month. You can spend them as you go or save them up. Or you can simply rent or buy books without a subscription, but you’ll pay a little more for each title.

Pros

  • Less expensive than Audiobooks.com.
  • You own the books and can keep them even if you cancel.
  • You can download and listen offline.
  • You have the option to buy or rent books outside of the membership. Rentals are less expensive, but, if you buy the book, you’ll pay more than you would with a membership.

Cons

  • Smaller selection with just 80,000 titles (and counting).
  • No free trial.
  • Each credit expires after 12 months.
  • Books for purchase are pricy, though there is a tab for “Daily Deals” with sections for downloads under $15, $10 and even $5.

5. Chirp

Chirp is a sister site of Bookbub, an e-book site. When you sign up for the service, you get a daily email featuring special deals. Many of the deals are $3.99 or less for each book.

Pros

  • No subscription needed, so you only pay for what you buy.
  • You buy rather than rent the books, so they’re yours to keep.
  • You can purchase from a wide selection of books at regular price.
  • There is a “my wishlist” section where you can list out the books you want to listen to and get alerts if they go on sale.

Cons

  • The deals are random and not catered to your taste, so you may or may not see books on sale that you actually want to read.

6. Apple Books

A couple listen to an audiobook from one of their devices.

Apple Books is a store for iPhone and Mac users to purchase audiobooks. It’s not a subscription site, just a pay-for-what-you-want store.

Pros

  • New and popular books are available, as well as classics.
  • Apple editors curate general lists to help readers find new books.
  • You keep your audiobooks right on your phone.
  • You can download books and listen to them from your Apple Watch while you workout.
  • No pressure to download books to justify a monthly expense.

Cons

  • Limited to iPhone and Mac users.
  • Individual books can be expensive.

7. Google Play Books

Google Play Books is much like Apple Books, but for Android and PC users, and with a few more perks.

Pros

  • No subscription, just buy what you like.
  • Listen to previews before committing.
  • Good sales and prices overall.
  • Can be used on iPhones and Macs.
  • Large selection of audiobooks.

Cons

  • No freebies.

8. Librivox

The Librivox audiobooks website declares “acoustical liberation of books in the public domain.” So what does that mean? Basically, it’s a free library of audiobooks that are old enough to have outlasted their copyright. They are read by volunteers.

Pros

  • Completely free to use.
  • Lots of great classics like “Moby Dick,” “Frankenstein” and “The Life and Times of Frederick Douglas.”
  • Available in the Apple app store.

Cons

  • Limited selection (50,000) with no recent titles.
  • No extras, such as podcasts..
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9. Your Public Library System

Of course, you can go to your local library and check out audiobooks on CD, but that’s so 2005. These days most library systems are hooked up with apps like Overdrive or Hoopla so you can check out audiobooks digitally on your phone.

Pros

  • With a library card, it’s completely free.
  • Not limited to your local library but connected to a large network of libraries, so there are many titles available.
  • You can place holds on titles you want if they are not currently available.

Cons

  • You may not find every book you want.
  • Books are checked out just like non-digital copies, so they are limited and you may have to wait for certain books.
  • New and popular books frequently have a very long waiting list.
  • You do not keep the titles, just borrow.

Happy listening!

Tyler Omoth is a contributor to The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

How and When to Talk to a Credit Bureau

Two women wearing pink smile at a phone while drinking coffee in a cafe against a gray wall.

Your credit score can have a huge impact on your life—for better or worse. In many ways, the three major credit bureaus are the keepers of your credit score. They’re responsible for maintaining credit reports, which means you may need to contact them about the information included on yours. While this may seem daunting, it’s really not complicated.

Read on to learn about when to contact a credit bureau and how to do it. Contact information and tips have been provided for each of the three credit bureaus—Experian, Equifax and TransUnion—to make it as simple as possible.

When to Contact a Credit Bureau

Anytime you notice inaccuracies on your credit report, you should immediately contact the credit bureau. This can include misspelled names, incorrect address information, unreported salary changes or erroneous employment information.

Here are some other reasons why you might need to contact a credit bureau:

  • There are credit cards, collections missed payments or anything else on your report that you don’t recognize.
  • You’re in credit disputes with your credit card issuer or financial institution. You can address this with the credit bureaus, which are required to investigate.

For help talking to the credit bureaus and starting a credit repair plan, you can work with a professional credit repair agency. They offer credit monitoring, credit repair services and text alerts so you don’t miss a thing.

Get Credit Repair Help
  • You want to get a hard inquiry removed from your history, especially if it’s an unauthorized inquiry.
  • An account is missing from your report.
  • You want to remove inaccurate or unfair collection accounts from your report. Keep in mind that if you can’t dispute them successfully, these accounts can stay on your account for a number of years.
  • You want to request a free annual credit report.
  • You want to put a temporary freeze or lock on your credit file.
  • You notice any sign of fraud on your credit report.

Information to Gather before You Call

You want to have the right information on hand when you call a credit bureau. Prepare yourself by collecting the following information in advance, just in case:

  • Your name, address, Social Security number and date of birth
  • A copy of your annual credit report
  • Evidence of the inaccuracies or errors, if relevant
  • Personal financial information, such as your mortgage information, depending on the reported issue
  • Any other supporting documentation

Credit Bureau Contact Information

Because there are so many potential reasons to contact a credit bureau—general inquiries, disputes and credit freezes, for example—there are many different phone numbers and online contact forms to wade through. If you call the wrong number, you may simply be told they cannot help you and directed to call a different number, wasting precious time and energy.

To help you avoid that frustration, we’ve gathered several ways you can contact the credit bureaus for common inquiries here.

Equifax Phone Numbers

Reason to Contact

Phone Number

Availability

General inquiries

866-640-2273

 

Service cancellation

866-243-8181

8 a.m. to 3 a.m. (ET)
7 days a week

Request a copy of your credit report

866-349-5191

8 a.m. to midnight (ET)
7 days a week

Fraud alert

800-525-6285

8 a.m. to midnight (ET)
7 days a week

Credit dispute

866-349-5191

8 a.m. to midnight (ET)
7 days a week

Credit freeze

888-298-0045

8 a.m. to midnight (ET)
7 days a week

2017 data breach

888-548-7878

8 a.m. to midnight (ET)
7 days a week

Opt out of mailing lists

888-567-8688

 

 

If you don’t like talking on the phone, Equifax also offers live chat support. You can chat with a member of their customer support team between 8 a.m. and midnight (ET), Monday through Friday.


TransUnion Phone Numbers

Reason to Contact

Phone Number

Availability

General inquiries

833-395-6938

8 a.m. to 11 p.m. (ET)
Monday–Friday

Credit dispute

833-395-6941

8 a.m to 11:00 p.m. (ET)

Monday–Friday

Credit freeze

888-909-8872

8 a.m. to 11 p.m. (ET)

Fraud alert

800-680-7289

8 a.m.to 11 p.m. (ET)

Free annual report

877-322-8228

 

Haven’t received your report

800-888-4213
800-916-8800 (to speak to a representative)

 

Manage your subscription

833-806-1626

8 a.m. to 9 p.m. (ET)

Monday–Friday

 

8 a.m. to 5 p.m. (ET)
Saturday–Sunday

Technical support

833-806-1626

8 a.m. to 9 pm. (ET)

Monday–Friday

8 a.m. to 5 p.m. (ET)
Saturday–Sunday


Experian Phone Numbers

Reason to Contact

 Phone Number

Availability

Experian membership

479-343-6239

6 a.m. to 8 p.m. (PT)
Monday–Friday

8 a.m. to 5 p.m. (PT)
Saturday–Sunday

Free credit report

888-397-3742

 

Credit dispute

866-200-6020

 

Fraud alert

888-397-3742

 

Credit freeze

888-397-3742

 

Cancel membership

479-343-6239

 

ProtectMyID subscription

866-960-6943

 

Opt out of prescreened offers

888-567-8688

 


Alternatives to Calling Credit Bureaus

Not all experts think calling a credit bureau is the best approach. Don Petersen, an attorney at Howard Lewis & Peterson, PC, in Utah, recommends calling a bureau for only basic administrative questions—such as updating an address or asking if a recent data breach has affected you.

For most other issues, Petersen advises his clients to write to credit bureaus or submit disputes online. This provides you with an official record of your request.

If you do prefer to call a credit bureau, take notes during the call and follow up in writing after the telephone conversation. In your follow-up letter, you should include the name of the representative you spoke with as well as details of what transpired in your conversation.

Send important requests—especially disputes—through certified mail. This allows you to track the letter and ensure that the credit bureau responds in a timely manner. Never send original copies of documents, as the bureaus may not return anything you send.

Equifax Mailing Addresses

Reason for Contact

Address

Credit dispute

Equifax Information Services LLC
P.O. Box 740256
Atlanta, GA 30374-0256

Request a copy of your credit report

Equifax Disclosure Department
P.O. Box 740241
Atlanta, GA 30374-0241

Fraud alert

Equifax Information Services LLC
P.O. Box 105069
Atlanta, GA 30348-5069

Credit freeze

Equifax Information Services LLC
P.O. Box 105788
Atlanta, GA 30348-5788


TransUnion Mailing Addresses

Reason to Contact

Address

Credit freeze

TransUnion
P.O. Box 160
Woodlyn, PA 19094

Credit dispute

TransUnion Consumer Solutions
P.O. Box 2000
Chester, PA 19016-2000

Fraud alert

TransUnion Fraud Victim Assistance
P.O. Box 2000
Chester, PA 19016

Request credit report

TransUnion LLC
Consumer Disclosure Center
P.O. Box 1000
Chester, PA 19016


Experian Mailing Addresses

Reason to Contact

Address

Credit dispute

Experian Dispute Department
P.O. Box 4500
Allen, TX 75013

Credit freeze

Experian Security Freeze
P.O. Box 9554
Allen, TX 75013

Privacy

Chief Privacy Officer
Compliance Department
Experian
475 Anton Blvd.
Costa Mesa, CA 92626

Report a relative’s death

Experian
P.O. Box 9701
Allen, TX 75013


Track Your Credit

Under the Fair Credit Reporting Act, you have the right to obtain a free copy of all three reports once each year. These free reports can be accessed on the government-mandated site operated by the big three credit bureaus, AnnualCreditReport.com.

You can also sign up for the free credit report card offered by Credit.com, which provides a snapshot of your credit as well as the ability to dig deeper into the elements that affect your credit score. When you sign up, you’ll also get regular emails with tips and tricks for keeping your credit healthy.

Sign Up Now

The post How and When to Talk to a Credit Bureau appeared first on Credit.com.

Source: credit.com

How To Dispute An Error On Your Credit Report

Your credit reports contain information about where you live, how you pay your bills, and any public records that you may have. Credit bureaus sell your credit report to creditors, insurers, employers, landlords, and anyone…

The post How to Dispute an Error on Your Credit Report appeared first on Crediful.

15 Numbers You Need To Know To Make Smart Financial Decisions

The Wall Street Journal lists 15 important numbers that everyone should know to make better financial decisions. Here they are, broken down by category.

The post 15 Numbers You Need To Know To Make Smart Financial Decisions appeared first on Bible Money Matters and was written by Peter Anderson. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.

Source: biblemoneymatters.com

Credit Card Payoff Calculator: When Could You Reach Financial Freedom?

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Have credit card debt? You’re not the only one. It’s reported that 43 percent of households carry credit card debt month after month. While credit cards can be a great tool to build your credit score, they can easily impact your budget. If you’ve detoured from your financial goals and racked up a hefty bill, now is the perfect time to create a payoff plan. Use our credit card payoff calculator to see when you could be financially free.

Credit Card Payoff Calculator

Enter your card details to calculate your payoff timeline.

Choose One

Please enter your desired payoff date.

Please enter your monthly payment.

Time to Payoff

30 Months

Debt-Free Date

Apr 2023

Monthly Payment

$250.00

Total Paid$7,493.77

Total Principal

$5,000.00

Total Interest

$0.00

See where the rest of your budget is going

to pay off debts that have the highest interest rates to save on added expenses. Use our credit card payoff calculator to see which accounts would cost you more in the long-term.

2. See What Payments Work for Your Budget

Once you have an idea of which accounts you’d like to focus on, figure out the right payments for your budget. Keep in mind, you should still make the minimum payments on debts to keep your credit score in good shape. To calculate how comfortable you are with these payments, download our app and evaluate your budget.

3. Negotiate Your Credit Card Terms

If you have a strong credit score and loyalty to your credit card company, you may be able to negotiate your terms. For example, if you’d like your payment to be due on the 25th instead of the 10th of every month, call a representative and see what they can do. You may not always get what you ask for, but you won’t get what you don’t ask for!

4. Reprioritize Your Budget

After you get a better idea of what your budget looks like, prioritize your expenses. As your wants and needs change, adjust your budget accordingly.

Paying off credit card debt may not be as appealing as buying a new car, but it can be a more responsible financial choice depending on your situation. To ensure you’re staying on track with your biggest financial goals, always keep track of your budget using our app.

The post Credit Card Payoff Calculator: When Could You Reach Financial Freedom? appeared first on MintLife Blog.

Source: mint.intuit.com