If you’re a frequent Fingerhut shopper, the Fingerhut Credit Card is made for you. That’s not to say it’s the perfect credit card for you.

The Fingerhut Credit Card gives consumers the chance to buy brand-name items through Fingerhut only, with small monthly payments.

The issuer will consider one Fingerhut Credit Card application for both unsecured and secured lines of credit, which can make it easier to qualify for than other cards.

Unfortunately, the product markups and interest rates make using the Fingerhut Credit Card a bad deal overall. Instead, look for a card that can be used anywhere. Many secured cards are easy to qualify for and require low security deposits.

ALSO READ: CardCruncher’s Complete Guide to Improving Your Credit Score

Fingerhut Credit Card Review

Here are the highlights of the Fingerhut Credit Card:

  • Annual Fee: None
  • APR: 29.99% fixed APR or 26.40% variable APR
  • Sign-Up Bonus: None
  • Benefits:
    • Fingerhut considers your application for both unsecured and secured lines of credit
    • Build your credit by purchasing products that you want or need
    • Use the Fingerhut Credit Card to purchase more than 450,000 brand name products
  • Minimum Payment:
    • Based on balance. See below chart:
Account BalanceMinimum Payment
$0.00 - $6.98Full balance
$6.99 - $44.99$6.99
$45.00 - $69.99$7.99
$70.00 - $99.99$8.99
$100.00 - $124.99$10.99
$125.00 - $199.99$14.99
$200.00 - $249.99$17.99
$250.00 - $299.99$20.99
$300.00 - $349.99$23.99
$350.00 - $449.99$29.99
$450.00 - $549.99$34.99
$550.00 - $799.99$46.99
$800.00 - $1,099.99$59.99
$1,100.00 - $1,399.99$69.99
$1,400+5% of the balance
  • Other Fees:
    • Up to $27 for late payments
    • Up to $27 for returned payments

Why to Apply for the Fingerhut Credit Card

There are a few reasons why you may consider applying for the Fingerhut Credit Card.

You want to improve your credit but have had trouble getting approved for a loan. Fingerhut will consider your application for both the Fingerhut Credit Card and the Fingerhut FreshStart Credit Account. If you can’t qualify for the credit card, there’s a good chance you’ll still qualify for the Fingerhut FreshStart Credit Account.

With the Fingerhut FreshStart Credit Account you’ll make a $30 down payment on your purchase and pay off the remainder over the course of a few months. If you make your payments on time you will automatically receive a Fingerhut Credit Card. Plus, the Fingerhut Credit Card reports to all three credit bureaus, allowing you to increase your credit score with proper use of the card.

You want to buy brand name products, but don’t have the money to do so. Fingerhut operates like an online department store designed for people with poor credit. To shop at Fingerhut, you need to use the Fingerhut Credit Card or Fingerhut FreshStart Credit Account. When approved, you can start shopping on the website using your Fingerhut Credit Card login.

Fingerhut offers products from popular brands like Samsung, Dyson, KitchenAidm and Skechers, so most shoppers will find value in shopping through site. And, once you make a purchase, you can take the time you need to pay it off.

Fingerhut Credit Card: Drawbacks and Downsides

There are a number of reasons to avoid the Fingerhut Credit Card.

You can only use the card at Fingerhut. With most credit cards you can make purchases at any store that accepts cards. The Fingerhut Credit Card is a store card, so you can only use it at Fingerhut. Given that one of the many benefits of credit cards is the flexibility to make purchases without having to carry huge quantities of cash, being tied to just one store significantly reduces a card’s utility. If you want to use a credit card at places other than Fingerhut, you’ll need to apply for a second, more versatile card.

You’ll pay a markup. One of the ways Fingerhut is able to make money by offering loans to people with poor credit is by charging more than usual for products. For example, most stores sell new PlayStation 4 video games for $59.99. On Fingerhut’s website, the same games costs $79.99 each. And with the high interest rates, you could end up paying even more if you carry a balance.

You won’t earn any rewards. A lot of people use credit cards because they offer rewards, but the Fingerhut Credit Card does not offer any points or cash back on purchases. In contrast, given the markup noted above, most people will pay more on purchases using this card.

Fingerhut Credit Card Alternatives

If you’re considering applying for the Fingerhut Credit Card, you should also take the time to look into these alternatives.

If you want a card that offers rewards, consider the Discover it Secured Credit Card. Unlike the Fingerhut Credit Card, you’ll need to provide a security deposit to qualify for the Discover it Secured Card. The minimum deposit is $200, which is much higher than the down payment required to use the Fingerhut FreshStart Credit Account.

In exchange for the high barrier to entry, by using the Discover it Secured Card Card, you’ll earn 2% cash back on restaurant and gas station purchases. Other purchases will earn 1% cash back. You’ll also receive double rewards for the first twelve statements and Discover will consider your account for an upgrade to an unsecured card after eight months.

If you want an unsecured card that you can use anywhere, try the Indigo Credit Card. Like the Fingerhut Credit Card, one application is all you need. The card issuer considers one application for four flavors of the Indigo Credit Card, with annual fees of $0, $59, $75 and $99. The better your credit, the lower the card’s annual fee will be.

The card does not offer rewards and carries some high fees for missed payments and authorized users. However, if you receive approval for a version of the card with a low annual fee and make your payments on time, you won’t have to worry about the cost. In fact, if you pay your balance in full every month, this card will likely be cheaper to use than the Fingerhut Credit Card due to Fingerhut’s price markups.

Bottom Line: Should You Apply for the Fingerhut Credit Card?

The Fingerhut Credit Card gives you the option to shop at Fingerhut. It’s also easy to qualify for because the issuer uses one application to approve either a secured or unsecured line of credit. Unfortunately, you can only use the card at Fingerhut and the store’s price markups make shopping there less than appealing. If you’re trying to build credit, look for a different, more versatile card instead.