What is WebBank Fingerhut?
WebBank is the issuer of the Fingerhut Advantage Credit Account and the Fingerhut FreshStart installment loan. These financing products can be used for purchases made on Fingerhut’s website or through their catalog.
The Fingerhut Credit Account by WebBank operates as a revolving line of credit, similar to a credit card. It is marketed as a way for online shoppers to build their credit while paying off purchases over time.
You may notice the credit report code webbnk/fhut as a hard inquiry on your credit report if you have applied for credit with them.
The Effect of Hard Inquiries on Your Credit
A hard inquiry occurs any time you apply for new credit, and the lender or creditor runs a credit check. Examples include applying for a mortgage, apartment, car loan, credit card, insurance policy, cell phone plan, or even a job. Hard inquiries typically only drop your credit score by a few points, but having too many in a short period can negatively impact your score.
The Difference Between Hard and Soft Inquiries
Soft inquiries, in contrast, generally occur when a company checks your credit history as part of a background check or prequalification process. Soft inquiries can also be pulled by an existing creditor monitoring your current credit situation. Unlike hard inquiries, soft inquiries do not affect your credit scores.
How Long Hard Inquiries Stay on Your Credit Report
Regardless of the outcome of your Fingerhut credit card or installment loan application, the hard inquiry will remain on your credit report for up to two years. Every inquiry is documented by one or more of the three leading credit reporting agencies: Equifax, Experian, and TransUnion.
Addressing Unauthorized Inquiries
If you find an unfamiliar inquiry on your credit report or are certain that you didn’t make the inquiry, contact Fingerhut to clarify the reason for the inquiry. The creditor’s name should be listed under the hard inquiry section of your credit report.
Can WebBank Fingerhut be Removed from My Credit Report?
If you discover that the WebBank Fingerhut inquiry is unauthorized or negatively impacting your credit score, you can seek assistance from a credit repair company like Credit Saint.
They can help you dispute and potentially remove the following items:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Regain Control of Your Credit Today
If you’re struggling with bad credit and need assistance, consider a free credit consultation with Credit Saint. They have experience helping individuals in similar situations and can guide you on the path to better credit. Visit their website and fill out the form to explore your options and see what they can do for you.
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