low monthly payments1 make budgeting easier
If you read this blog, you know we’re a big fan of budgets. And we understand that sticking to a budget can be hard, especially if you’re juggling multiple purchases with monthly payments.
Now here’s some good news you can use. Budgeting can be easier when you make multiple purchases using a Fingerhut Fetti Credit Account issued by WebBank. That’s because your monthly payment 1 is based on your account balance, not on the price per month of each item.
Here’s an example
If you have an existing balance of $125.00 with a monthly payment of $18.99 and make an additional purchase of $99.992, your new monthly payment will be $21.99.
We put together a handy worksheet for you to estimate your monthly payment if you have an existing balance and make a new purchase. Look below to see how to use it, then print your own worksheet here.
existing balance payment worksheet
Add your existing account balance to your new purchase total (make sure to include shipping, handling and applicable taxes). Find the new balance range using the existing balance payment chart below. See your new monthly payment in the second column.
sample
existing balance $125.00
+
new purchase $100.00
=
new total balance $225.00
monthly payment $21.99
calculate for your account
existing balance $___________
+
new purchase $___________
=
new total balance $___________
monthly payment $___________
So how does this compare to buy now, pay later options? Most traditional buy now, pay later plans split your purchase amount into 4 fixed-and-equal payments. It may sound simple, but what happens if you buy more than one item or make multiple purchases from different places?
Your fixed payments will start to stack up higher with every purchase. Let’s look at another example.
Say you make a $75 purchase using your Fingerhut Fetti Credit Account1, with a monthly payment of $12.99, then make an additional purchase of $1002. Your new order total of $175 will have monthly payments of $18.99, an increase of $6.00.
With most traditional buy now, pay later plans, your payments for that same $75 purchase will be $18.75.3 If you make an additional $100 purchase, the payments on your $175 order total will be $43.75.3
That’s a big difference.
As you can see, instead of fixed payments that stack higher and higher for each purchase, Fingerhut’s monthly payments increase at a more gradual rate, based on your balance.4 Plus, your number of payments may go up with your balance, giving you more time to pay.
Now that you know how Fingerhut’s monthly payments are based on your account balance, you can plan purchases with your budget in mind and make smart buying choices. And best of all, you can build credit history for a better financial future.1
1 If you apply and are accepted for a Fingerhut Credit Account issued by WebBank, who determines eligibility and qualifications for the terms of credit.
2 Total retail price includes product price plus shipping and handling.
3 Based on a typical 6-week, 4-payment BNPL option.
4 Based on purchases of $40 or more with a WebBank/Fingerhut Fetti Credit Account versus a typical 6-week, 4-payment BNPL option.
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