Fingerhut review with pricing, purchasing instructions, key information, comparisons and FAQs.
Fingerhut review with pricing, purchasing instructions, key information, comparisons and FAQs.
Fingerhut is one of the most popular alternative financing companies in the country. Its primary focus is financing consumers with impaired or poor credit histories. Fingerhut is currently headquartered in Saint Cloud, Minnesota and is one of the most visited online shopping sites for this market category in the U.S. The company’s website is currently ranked 34 in its category, 2,229 nationally and 12,082 globally.
The company offers over 47,000 consumer products in 19 different categories. Consumers can also search its products by using 10 different filter options, including: Price Per Month, Total Price, Brand, Color and more. Fingerhut has developed a very flexible way for consumers to find the products they want to finance more easily.
Fingerhut does not self-finance, but instead offers financing through WebBank, which also provides financing services for such recognized firms, like: Dell Financial Services, PayPal and Yamaha. Because of Fingerhut’s relationship with WebBank, it is able to finance people with impaired credit because it sells its merchandise at slightly higher rates than traditional retail stores.
The company was founded in 1948 by William Fingerhut and Manny, his brother. The company originally sold automobile seat covers, but by 1952 it transitioned into a mail order catalog. The cataloger offered towels, dishes and tools. The brothers took the company public in 1969 and the family severed all relationship with the company in 1979. Throughout this time the company continued to grow and by 1996 Fingerhut became a top 25 issuer of credit cards in the country. Its highest reported revenue was $1.7 billion. In 2020 the company was part of the Bluestem Brand, Inc. bankruptcy. Today the company is estimated to have annual revenues of only $100 million to $200 million with estimated employee size of 501 to 1000.
As of this writing, Fingerhut is estimated to get 3.6M visitors per month with a 32.33% bounce rate (single page visits), 7.92 pages per visit and an average visit duration of 6:39. These are very favorable numbers compared to other websites in this category.
Fingerhut has a long and established reputation and a large customer following, but reviews have been somewhat mixed. As of this writing, Fingerhut has a 3.5 star rating on Consumer Affairs, a 2.4 star rating on Trust Pilot, and a low 1.15 stars out of five rating with the Better Business Bureau customer reviews. The BBB also received 1,709 complaints in the last three years, and the business is not currently accredited.
Product: Amazon Echo Dot 3rd Generation Smart Speaker – Charcoal
1.1 Enter a product in the search bar. This is a product that you are interested in financing. You do not need to create an account in order to search the company’s products.
1.2 Use the product filters on the left side of the screen to narrow down your product search to save time and more quickly identify the product you’re looking for. Or you may browse the products that are presented from your keyword search in the step before. When you’ve identified a product, click on the product to view more details.
1.3 After you are taken to the product page, Fingerhut presents you with a $10 Off Coupon Code box. You have the option to Copy the code or click the No Thank You link. If you do not click the Copy button the Coupon Box will not reappear for you to have a second chance at the $10 savings.
Note: This option may not appear on all products due to the total price of the product and the popup may be affected by popup blockers.
1.4 After the popup is closed, you can see the details of the product you selected. Fingerhut makes it easy to find the relevant details of the product as well as present you with other items frequently purchased with that particular item.
1.4.1 Fingerhut provides a detailed description of the product name, including color.
1.4.2 Fingerhut provides an item number unique to Fingerhut. This makes it more difficult to comparison shop with other online retailers. There is also a Shipping Code, so you can identify what category and rate schedule for the shipping of the product you’re viewing.
1.4.3 Fingerhut provides detailed information about the product pricing, including the current price, original price, any savings the purchaser might enjoy and the monthly price for the product through web bank.
1.4.4 Fingerhut also offers Service Plan options to protect your purchase. This plan protects purchasers for defects in materials & workmanship (after the manufacturer’s warranty), mechanical and electrical breakdowns, normal wear and tear, power surges and dust, heat & humidity. The plans often include 24/7 assistance, $0 deductibles and no shipping costs for repairs.
1.4.5 Underneath the Service Plans options are additional specific information about the product, including a detailed description, specifications, reviews and Shipping & Return policy.
While it is not a standard offering, you can get free shipping if you can find coupons for free shipping. As of this writing, the free shipping coupon code is presented on the home page of the Fingerhut website. Depending on the product, this can save you significant money.
Fingerhut provides an option to get Free Coupons on some product pages. When you click this display ad on the product page, Fingerhut will present you with an option to add an extension to your browser so that coupons will be presented on your browser while using it.
1.4.6 Fingerhut provides an easily identifiable button to click if you want to purchase the product. If the product is not available the button is gray and identified as not available.
1.4.7 Fingerhut gives purchasers the option to send items directly as gifts with an option to send an email gift notice.
1.5 When you click Add to Cart Fingerhut will present you with a popup box to reset the Service Plan if you left the default radio button checked for no service plan. If the Service Plan was already selected this box will not appear.
1.5.1 After the purchase clicks continue, the screen will appear a second time to offer the Service Plan. If the Service Plan was already checked, the options on the right side of the screen do not appear.
1.6 While in the shopping cart the purchaser is provided a total purchase summary and can then click the check out now button.
1.7 New customers must create an account but existing customers only need to submit an email address and password.
1.8 New customers are prompted to provide an email address and password that must be at least 8 characters and include: 1 uppercase letter, 1 lowercase letter and 1 number or special character.
1.9 After you set up your account email and password, Fingerhut asks for your Billing Address.
2.0.1 Fingerhut presents payment options. You have the choice of applying for credit, paying in full, using two forms of payment or gift card.
2.0.2 Here is how you can pay for your purchase all at once. There is no discount for paying at once.
2.0.3 Fingerhut provides an option to split the different forms of payment. It allows you to pay using multiple credit or debit cards or a gift card in combination with another gift card or debit or credit card.
2.0.4 The final option to pay for your purchase is only using a gift card.
On the top of the home page of the Fingerhut website (www.fingerhut.com) is where you will see the link to log into your account. The entire website is encrypted for security. You can also get there by clicking the following link: Member Login (fingerhut.com).
While both PerPay and Fingerhut serve people with less than perfect or impaired credit, Fingerhut is significantly bigger, especially in terms of traffic to its website, and much more established. PerPay focuses more on Buy Now Pay Later (BNPL) and improving customer credit scores. Fingerhut offers a similar type program but does not advertise specific FICO score improvements with customers.
Initially MDG only offered financing in a limited number of states. It recently began offering financing through Capital Community Bank and has slowly been increasing its product offering. Fingerhut still offers more product selection and has been established for longer. MDG financing places an emphasis on making your financing payments via ACH.
Stoneberry positions itself as a Buy Now Pay Later company that offers a catalog of products. It’s financing programs are designed to target people with past credit problems and applying for financing will not affect your credit score, according to Stoneberry. Fingerhut generates almost 2.5 times more visitors to its online store and offers significantly more products than Stoneberry.
Flexshopper is a lease to own company that largely serves the same market as Fingerhut. However, Flexshopper is a publicly traded company, while Fingerhut is private. Flexshopper offers a significantly number of products, similar to Fingerhut. The company also appears to offer a lot more products through partnerships with major retailers. Flexshopper also offers installment loans through Transportation Alliance Bank.
Rent-a-Center is a lease to own company that largely serves the same market as Fingerhut. However, Rent-a-Center has almost 3,000 locations nationally and also is a publicly traded company. Rent-a-Center does not offer more products than Fingerhut, but it does offer furniture delivered to your home. This is a significant advantage over Fingerhut if you are looking to furnish a room or your entire home with furniture and appliances.
|Legal Name||The Fingerhut Companies, Inc.|
|Current Owner||Bluestem Brands, Inc.|
|Customer Service Address||6250 Ridgewood Road, St. Clud, MN 56303|
|To Mail Account Payments||PO Box 70792, Philadelphia, PA 19176|
|Main Phone Number||(800) 208-2500|
|Customer Service Telephone||(800) 556-3208|
|Fingerhut Financing||(800) 964-1975|
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