How I Raised My Credit Score Over 100 Points With Fingerhut
By Mark B. Huntley, Esq.
Last updated 7/11/2019
Summary: Adding a Fingerhut credit card to your credit mix can significantly help improve your credit score.
My credit score has increased quite a bit since I started this credit journey.
I am now circling the wagon to review the specific credit tools I have found to be the most successful.
For those of you that are new to 'My Credit Journey' I had a credit score of 475 in January 2019.
I have vowed to document each step of my credit journey, both good and bad, to a 700+ credit score.
You can follow my journey by going to and bookmarking the Start of My Credit Journey page.
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I think the credit-building tool that has increased my credit score the most has got to be my Fingerhut store catalog credit.
On March 11, 2019, I applied for Fingerhut credit. Little did I know that I was signing up for probably the biggest overall credit score gain I will ever see.
How I Raised My Credit Score 100 Points With Fingerhut
Around the time I signed up for Fingerhut, my credit score was between 550 and 575.
If you don't know your credit score, you can learn how to get it for free by reading our definitive guide on getting a free credit score.
Fingerhut offers an unsecured revolving loan, which is the same type of credit a traditional credit card offers.
Fingerhut credit can only be used to purchase from their online store catalog.
The only difference is that you do not get an actual credit card that can be used anywhere Visa or MasterCard is accepted.
Your Fingerhut credit card can only be used to purchase items from their online store catalog, which offers 1000's of useful things.
When I applied, honestly, I was unsure if I'd qualify for unsecured credit since I had been recently declined.
However, everything I had read about Fingerhut was that they gave credit out to just about anybody.
So I applied…
Literally, within seconds, Fingerhut through Web Bank gave me a $1,000 unsecured credit line.
To give you some perspective, I do not think you could qualify for a traditional credit card from any bank in the U.S. with a credit score in the 500's.
But you can at Fingerhut!
My credit score immediately jumped 29 points when the $1,000 of available credit hit my credit file.
This credit has come in handy. With the $1,000 unsecured credit line, I have purchased multiple brand name items from their online store.
They offer items such as clothes, kitchen stuff, shoes, outdoor gear, sports equipment, computers and I am considering buying some furniture they have in their clearance section.
But it gets better…
Fingerhut has this deal where if you make your payments on time, then they will increase your credit limit.
Since March they have increased my credit limit in increments of $300, twice.
Each time they increase my limit, it improves my credit score 7 to 10 points.
Fingerhut will usually increase your credit limit if you make your payments on time.
Overall, my credit has increased well over 100 points since the start of my credit journey. Fingerhut has accounted for at least 50 of those points, and I expect it to continue to increase every couple of months.
Even if you have a lower credit score than mine, they offer a FreshStart program where you order $50 in products, pay $30, and then make monthly payments on the difference of a few dollars a month to build your credit score.
If you make all of your payments on time, they will move you over to their unsecured credit Advantage plan.
This is my top recommended credit tool because it is free and has had such a huge impact on my credit score.
Get your Fingerhut credit today!
How Fingerhut Helps Your Credit Score
Fingerhut credit is the same type of loan that the credit card companies give, a revolving loan.
What this means is that you are given a maximum credit limit that the lender will allow you to borrow.
As you borrow and make payments on your Fingerhut account, your balance will 'revolve' up and down within your credit limit.
This is why they call them 'revolving loans' because the balances fluctuate.
The credit bureaus and FICO have determined that the more of this credit you use, the higher of a risk you are to default.
So if you use too much of your credit utilization ratio, (explained below) your credit score will go down.
Maxing out your credit cards will hurt your credit score. Try to spread the balances around to limit credit score impact.
When Fingerhut approved me for credit, it added another $1,000 to my available revolving credit, which lowered my utilization ratio.
Revolving loans are especially important to your credit score affecting as much as 30% through your credit utilization ratio, also sometimes referred to as 'amounts owed.'
The credit utilization ratio is the amount of revolving credit that you have divided by the amount of money that you owe.
For example, say all of your revolving loans have maximum credit limits of $10,000 and the total amount you owe on those loans is $2,500. Simply divide $10,000/$2,000 and you would get your credit utilization ratio: 20%.
You want to aim to keep the balance owed on your Fingerhut and Credit Cards as low as possible to keep your utilization ratio low and credit score high.
Apply For Fingerhut Credit
I hope your found this example of how Fingerhut helped my credit score helpful.
Applying for Fingerhut credit is free and super easy.
If you are still have questions or are not convinced you can read our Fingerhut Review.
Otherwise, click the orange button above and get started on improving your credit score.