Madison Blancaflor is the managing editor for TPG's content operations team. She focuses on helping TPG's broader editorial team bring news, features and advice to readers. She has nearly six years of experience covering the credit cards and travel industries.
Ryan Wilcox Former credit card writerWhen Ryan worked as a TPG credit cards writer, he oversaw refreshes of card reviews and card offer stories. He enjoyed racking up cash back and helping readers maximize their points and miles for their next big trip.
July 31, 2024 5 min read
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A Fingerhut Credit Account by WebBank is advertised as a way for online shoppers to build credit while paying off shopping purchases over time. You won't earn any rewards on your purchases, you can only use the account with Fingerhut and the interest rates are less than favorable. All in all, there are much better options out there, even for beginners. Card Rating*: ⭐
I don't know about you, but I've been doing a lot more online shopping in the last few years. Between new books, closet storage and organization solutions, home decor and clothes, I've racked up quite a few points (and cardboard boxes).
During one of my recent online searches, I came across an online shopping catalog called Fingerhut. It's a shopping magazine website that lets you open a line of credit to use specifically on catalog purchases so you can pay off your shopping habits over time.
Unsurprisingly, though, this line of credit isn't a great option — especially if you're hoping to earn rewards on your purchases. Let's dive into the details and discuss other card accounts that could be a better fit for anyone who may be considering a Fingerhut account.
The information for the Fingerhut Credit Account by WeBank has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The Fingerhut credit account comes with no traditional welcome offer.
Needless to say, that's disappointing — especially considering there are cards out there offering bonuses worth more than $1,000 in value.
The Fingerhut card also comes with a meager list of benefits.
Daily Newsletter Reward your inbox with the TPG Daily newsletter Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s expertsThe main selling point of the Fingerhut credit account is that it lets you pay over time when you're online shopping with the retailer. But there are plenty of other ways to finance larger purchases on a budget, and the fact that this option can only be used at Fingerhut retailers is a major downside.
Your credit history will also be reported to all three credit bureaus, which is nice if you're trying to build (or rebuild) your credit score. But even if that's the case, you can find plenty of better cards out there that offer solid benefits and rewards along the way.
Here comes maybe the worst part of this card: It doesn't offer the chance to earn or redeem any sort of rewards.
Again, even if you've got a limited or poor credit history, there are a number of secured credit cards out there that can earn you rewards as you look to up your credit score. Pair that with the fact that a Fingerhut Credit Account is a closed-loop credit option — meaning it can only be used at Fingerhut locations — and it's enough to make most prospective cardholders stay away.
If you're looking to build your credit, you have several better options than a Fingerhut credit account.
The information for the Discover It Secured Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
For additional options, check out our lists of the best secured credit cards and the best starter credit cards.
It can be tempting to take advantage of offers that let you pay over time when you're online shopping, but doing so is almost never a good idea. While there are ways you can finance larger purchases with the right budget and a good 0% APR credit card offer, Fingerhut's credit account through WebBank just doesn't fit the bill.
With so many actual credit card options out there (many of which earn great rewards that can help you save money or redeem for amazing travel experiences), and other online shopping sites offering better prices on the products Fingerhut sells, it just doesn't make sense to consider the Fingerhut Credit Account.
You're better off looking elsewhere in the secured credit card space.
Featured image by JUSTIN PAGET/GETTY IMAGESEditorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
