Store Credit: 3 Things You Must Know

Today, having good credit is mandatory and not something nice-to-have. When you have a great credit score, it helps you to buy a property, rent a house, and even apply for loans. On the contrary, if you have a poor credit rating, it would be difficult for you to prove that you use credit cards sensibly.

Store Credit: 3 Things You Must Know
[ image: by lukas ]

According to an article published on, there are many benefits of having a healthy credit score. It helps you apply for the best credit cards, better job applications, save on your vehicle insurance, having more negotiating power, and more. These days many people use store credit cards. Read on to learn more.

1. Store credit

These days, you will find many mail-order catalog retailers extending credit to their customers. One example is the Fingerhut providing a printed catalog, though functioning online today, selling branded products from Apple, Samsung, Birkenstock, Dyson, Keurig, Skechers, and more.

When it comes to Fingerhut, it works with customers to build or redevelop credit through low monthly disbursements based on customer’s purchases. Although not necessarily a credit card, it is a store card instead with zero annual fees and could be used at Fingerhut or specific retail partners. Then, a high annual percentage rate, as well as other aspects, can make shopping expensive for you.

2. How any store credit works

Catalog or online retailers like Fingerhut offer to kinds of credit-development products, for example, the Advantage Credit Account and the FreshStart Credit Account. You can look up Fingerhut Review if you want to opt for the same.

Even if you do not qualify for the advantage account, the issuer would consider a customer for the FreshStart account, which is a one-time loan helping you to express your credibility as a borrower. Once you qualify for the FreshStart program, paying off all loan installments without fail, you will become eligible for the advantage account.

You need to fulfill the basic requirements to apply for store credit. These include an American mailing address, proof that you are an adult, a Social Security number, and the proof of your adequate assets or earnings to pay off your monthly installments for the loan taken.

3. The process of application of store credit is simple

The application process is simple and without complications. All you need to do is go to the application page and enter the information required like your name, phone number, address, date of birth, annual income, and of course Social Security number. If you do not have an account, you’ll be asked to create one. It will take a few seconds to process this, but later things will depend on the type of account you have been approved by the catalog or online retailer.

When you qualify for the Advantage account, you would receive a credit of $200 to $800, to begin with, and start shopping right away. Then, shoppers may be asked to make some down payment for the first purchase, which they will not know until they apply.

Store credit is a better way for a few shoppers to build or redevelop your credit, like Fingerhut. Use your credit wisely to reap the maximum benefits out of store credit accounts.

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