The Best Ways to Rebuild Your Credit After Bankruptcy

Looking for the best ways to rebuild your credit after bankruptcy?

Although it seems like you’ll never recover from serious credit setbacks, there are actually ways to begin the process of rebuilding your credit score after bankruptcy.  One of the best and least expensive ways is to open an account with a store/catalog sales site like Fingerhut.

Will opening a Fingerhut credit account help your credit score after bankruptcy?

Unlike a lot of other store/catalog shopping sites, Fingerhut actually has a program called the FreshStart program that was created especially for those who have less than perfect credit, so even if you don’t qualify for a regular revolving credit account with Fingerhut, you may still qualify for the FreshStart program (most people do qualify).

What is the Fingerhut FreshStart program?

Fingerhut’s FreshStart program is actually set up so that, once you are approved, you place the initial order (usually up to $300 worth of merchandise). Then, you’ll remit what is essentially your first payment on the new account, and Fingerhut will ship your order. You’ll continue to make the payments, and eventually, if your payments are timely and regular, your account may be considered for conversion to a revolving charge account. (Over time you will likely see your available credit increase and they offer specials where you pay no interest for a certain amount of time, where you can buy larger items like furniture, and much more!)

The Fingerhut FreshStart program can help you to rebuild your credit in two ways:

  1. Your timely, regular payments will be reported to the credit bureau, which will definitely help you to start to rebuild your payment history.
  2. Your available credit will be reported as well, and in the event that your credit limit is increased, that will also be reflected positively on your credit report. Just make sure that you keep your “available credit” around 75% of your total credit limit, because that is a very important factor in calculating your credit score.

And last but not least, there is another reason to consider Fingerhut – you will gain buying power!

Let’s be honest, when you have no credit, it’s really hard to buy anything (Christmas, birthdays, or just something you need around the house).  Fortunately, Fingerhut offers a huge selection of fine quality, brand name merchandise at highly competitive prices, and the prices are even listed two ways on their website: The full price is shown AND they show you the monthly payment amount, so you know how much you’ll need to pay each month before you make the purchase. (This helps tremendously if your budget is tight.)

Think Fingerhut might be the right choice for you?

(Trust me, this isn’t your mother’s Fingerhut anymore!)

Do You Know Your Credit Score?

Do You Know Your Credit Score?

You’d be amazed at the number of people who don’t know their credit score… even if it’s not as good as you’d like, even if it’s horrible, and even if it’s perfect, you still need to know approximately where you are.

What if you aren’t planning to use that information anytime soon? Just because you aren’t planning to use it doesn’t mean you shouldn’t be monitoring your credit score…in this day and age, with identity theft, credit card security breaches, and such, not knowing your credit score, not reviewing any and all action on your credit report…this can be very dangerous. It only takes a second for your information to fall into the wrong hands, but once it’s gone, it can take a lot of hard work and years to straighten out the mess that someone else can cause you in just a few moments.

What if your credit is so bad no one will give you credit? Believe it or not, it is simply not that hard to repair your credit score – you simply have to know your score, work to clear up any inaccuracies, and fix the rest. Pay off past due balances…Settle any judgments…just work at it and you’ll be amazed at what you can do if you try.

Believe me, your credit score is the one thing that you don’t want to ignore.