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Question By
ProfessorBarnhardt

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Fingerhut - a "credit card" or "installment loan?"
I made have made a bad assumption on Fingerhut. I have 8 credit cards and need no more to enhance my overall credit. But advice here and on my Discover IT website suggested that credit scores are enhanced with a "mix" of credit cards and an installment loan. I'd always thought of Fingerhut as an installment plan situation. But CreditKarma lists them along with my credit cards.

Question - Do credit bureaus count Fingerhut as an installment plan or as a credit card?

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I don't know what the credit bureaus classify them as but I consider them a rip-off because they charge high interest rates.

Consider using a bank or credit union for a loan.  I did and it helped my credit score. 

Top Contributor
53 Contributions
1324 People Helped

That's a good suggestion (CU loan).  I absolutely agree with you about Fingerhut ... not only for their high interest rates but because their product prices are higher.  But since I wasn't going to get a home loan, a car loan, or a student loan, Fingerhut was my first choice for a one-time purchase (I bought a tripod) on installment.  But, even though CreditKarma knows about the Fingerhut credit, I still get that nagging note saying they don't show an open installment loan.

I suppose I'll just pay the whole thing off before they can charge me any interest - and go with your idea.

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