Page 55 - Credit Builidng Toolkit By Adrean Yancy jr 3

Credit Building Toolkit

When you apply for credit, you are also applying for the two types of accounts.
When you are not approved or eligible for one, then the other will be applied to.
Both credits are only good at Fingerhut stores and can be used to make payments
with its partners.

Pros
· No annual or membership fee.

· Gives special offers to consumers.
· It reports to the three major credit bureaus.
· Consumers are open to increasing credit lines in no time.
· Easy application process as the decision is made in split seconds.

Cons

· High-interest fee.
· It has limited utility as it can only be used on Fingerhut purchases.
· Often, the merchandise price is always on the high side on Fingerhut compared to
other stores.

Perpay+

Perpay+ is another consumer finance loan that anyone with subprime credit can
explore. There is no best way to enjoy daily purchases without using Perpay+. It is a
company with a mission that allows you to buy now, pay later, and simultaneously
build your credit. Having been named the #5 fastest private growing company in
2019 by Inc.5000, Perpay+ attracts more than 1,000+ shops and top brands like
Samsung.

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