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ACCOUNT-OPENING DISCLOSURES

IMPORTANT CREDIT DISCLOSURES FOR WEBBANK/FINGERHUT CREDIT PROGRAMS

You are applying for both the WebBank/Fingerhut Advantage Revolving Credit Account and the WebBank/Fingerhut FreshStart Installment Loan. These accounts may require a down payment. If you do not qualify for a WebBank/Fingerhut Advantage Revolving Credit Account, we will attempt to qualify you for a WebBank/Fingerhut FreshStart Installment Loan. You will be notified if you were approved for either account. Below are important disclosures about the interest rates, fees, and other terms of these credit programs.

Listed first are disclosures about the WebBank/Fingerhut Advantage Revolving Credit Account, then disclosures about the WebBank/Fingerhut FreshStart Installment Loan, and then disclosures that apply to both products.

Summary of the WebBank/Fingerhut Advantage Revolving Credit Account Terms: This section relates to the WebBank/Fingerhut Advantage Revolving Credit Account only.

WebBank/Fingerhut Advantage Credit Account Key Credit Terms
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases 25.90% This APR will vary with the market based on the Prime Rate.
How to Avoid Paying Interest Your due date is at least 24 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.
Minimum Interest Charge If you are charged interest, the charge will be no less than $1.00.
For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore/
Fees
Penalty Fees
Late Fee Up to $38.00
Returned Payment Fee Up to $38.00

How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." See below for more details.

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided below.

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Summary Disclosures Only: This document contains important disclosures about the WebBank/Fingerhut Advantage Revolving Credit Account ("Revolving Credit Account"), but it is not your complete Credit Account Agreement. Your Credit Account Agreement will be sent to you and is also available online. Please read these Disclosures and that Agreement carefully, and keep them for your records. The Credit Account Agreement will explain how the Agreement may be changed, and that WebBank may sell, assign or transfer your account or any portion thereof.

If you do not qualify for a WebBank/Fingerhut Advantage Revolving Credit Account, your application will be processed for a WebBank/Fingerhut FreshStart Installment Loan that may allow you to finance your first purchase of more than $50. The terms of a WebBank/Fingerhut FreshStart Installment Loan are different from the terms of the WebBank/Fingerhut Advantage Revolving Credit Account, and the advertised prices per month do not apply to purchases financed with a WebBank/Fingerhut FreshStart Installment Loan. You may be eligible for a WebBank/Fingerhut Advantage Revolving Credit Account if you make complete and timely payments on your WebBank/Fingerhut FreshStart Installment Loan. See important disclosures about the WebBank/Fingerhut FreshStart Installment Loan in section titled "Summary of the WebBank/Fingerhut FreshStart Installment Loan Terms," including sample payment terms, down payment requirements, and information about interest rates and fees.

Advertised Price per Month: The advertised price per month online or in the catalog is the estimated initial monthly minimum payment required for a single item order on a WebBank/Fingerhut Advantage Revolving Credit Account. Your actual minimum payment will be calculated using the payment chart contained in the WebBank/Fingerhut Advantage Revolving Credit Account Agreement, or on the Blue Page in the catalog from which you place your order, based on your Account balance.

How We Figure Interest Charges: To calculate the Interest Charge for each monthly statement we multiply the average daily balance times the monthly periodic rate. Your monthly periodic rate may vary each billing cycle. If the total periodic Interest Charges for a month are less than $1.00 then we charge a minimum periodic Interest Charge of $1.00 which we will apply to the applicable balance (to the extent permitted by applicable law).

Average Daily Balance: We figure the interest charge on your Account by applying the monthly periodic rate to the "average daily balance" of your Account, including current transactions. To get the "average daily balance," we take the beginning balance of your Account each day, add any new purchases, charges and other fees, and subtract any payments or credits. This gives us the daily balance. Then we add up all the daily balances for that billing cycle and divide the total by the number of days in the billing cycle. This gives us the "average daily balance."

Variable APR: Your Annual Percentage Rate (APR) may vary and may increase. The APR is determined by adding 21.65% to the Prime Rate (also called the "Index Rate" and defined below). The monthly periodic rate is determined by dividing the APR by 12. An increase in your APR will not increase your scheduled monthly payment amount, but may increase the time required to repay your Account balance. The finance charges that are assessed, including the monthly periodic rate, will be in amounts or at rates that do not exceed those permitted by law. As of 10/3/2017 the APR is 25.90% which corresponds to a monthly periodic rate of 2.159%.

Index Rate: The Index Rate used to determine the applicable APR is the highest "Prime Rate" as published in the "Money Rates" section of the Midwest Edition of the Wall Street Journal on the first day of your billing cycle or, if the Wall Street Journal was not published on that date, the most recent day on which it was published.

When Interest Charges Begin to Accrue: Interest charges begin to accrue on each purchase on the date of the purchase. However, if you paid the new balance on your previous Statement by the payment due date shown on the Statement, then: (1) if you pay the new balance on your current Statement by the payment due date shown, we impose no interest charges on purchases during the current billing cycle, and (2) if you make a payment by the payment due date shown on your current Statement that is less than the new balance, we will credit that payment as of the first day in your current billing cycle. In addition, if your Statement reflected a new balance and you did not pay that new balance in full by the payment date on that previous Statement, then we will not impose interest charges on any purchases during the current billing cycle if you pay the balance shown on your current Statement by the payment due date reflected on that current Statement.

Deferral Periods: WebBank may specify a period during which no payments are required for your purchase. We call these "Deferral Periods." See the Blue Page in the catalog from which you place your order or your Credit Account Agreement for the specific rules that apply to your Deferral Period. Alternatively, you may call 1-800-208-2500 to obtain the information.

YOUR BILLING RIGHTS: KEEP THIS DOCUMENT FOR FUTURE USE This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.

WHAT TO DO IF YOU THINK YOU FIND A MISTAKE ON YOUR STATEMENT If you think there is an error on your statement, write us at: Fingerhut Credit Account Services, PO Box 1250, Saint Cloud MN 56395-1250. In your letter, give us the following information

  • Account Information: Your name and WebBank/Fingerhut Advantage Revolving Credit Account number.
  • Dollar Amount: The dollar amount of the suspected error.
  • Description of Problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us within 60 days after the error appeared on your statement. You must notify us of any potential errors in writing. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.

WHAT WILL HAPPEN AFTER WE RECEIVE YOUR LETTER When we receive your letter, we must do two things:

  1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
  2. Within 90 days of receiving your letter, we must either correct the error or explain why we believe the statement was correct.
While we investigate whether or not there has been an error:
  • We cannot try to collect the amount in question, or report you as delinquent.
  • The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
  • While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
  • We can apply any unpaid amount against your credit limit.
After we finish our investigation, one of two things will happen:
  • If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
  • If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees.

We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe. If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us. If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.

YOUR RIGHTS IF YOU ARE DISSATISFIED WITH YOUR CREDIT CARD PURCHASES If you are dissatisfied with the goods or services that you have purchased with your credit card and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase. To use this right, all of the following must be true:

  1. The purchase must have been made in your home State or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these are necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
  2. You must have used your credit card for the purchase.
  3. You must have not yet fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at:
Fingerhut Credit
Account Services, PO Box 1250, Saint Cloud MN 56395-1250.
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay we may report you as delinquent.

Protections Under the Military Lending Act: Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent (a "Covered Borrower") may not exceed an annual percentage rate of 36 percent. This rate must include the cost of SafeLine, our optional credit protection product. We do not charge application or participation fees.

You are a Covered Borrower if at the time of establishing this account you are an active duty service member or an active Guard or Reserve duty member, or you are a qualifying dependent of that member.

If you are a Covered Borrower, the provisions of this WebBank/Fingerhut Advantage Credit Account relating to arbitration do not apply to this WebBank/Fingerhut Advantage Credit Account involving consumer credit.

Oral Disclosure: If you are a Covered Borrower, you may obtain information about the account, including information about the payment obligation, by calling us toll-free, at 844-403-7059.

Summary of the WebBank/Fingerhut FreshStart Installment Loan Terms: This section relates to the WebBank/Fingerhut FreshStart Installment Loan only. Your initial purchase of at least $50 may be financed by a WebBank/Fingerhut FreshStart Intallment Loan between you and WebBank. This is not your complete WebBank/Fingerhut FreshStart Installment Loan Agreement. It is only a summary of certain important disclosures. Your WebBank/Fingerhut FreshStart Installment Agreement will be sent to you. Please read it carefully and keep it for your records. WebBank may sell, assign or transfer your WebBank/Fingerhut FreshStart Installment Loan Agreement or any portion thereof.

Representative Terms of Credit: The WebBank/Fingerhut FreshStart Installment Loan Agreement lets you make your initial purchase by making a $30 down payment to Fingerhut and 6 or 8 low monthly payments on your Loan. The Annual Percentage Rate is 24.90%. For purchases of $50 and $100, the following credit terms apply:

Cash price/Sale price $50 $100
Required Down payment $30 $30
Finance Charge $1.48 $5.18
Terms of repayment 6 monthly payments of $3.58 6 monthly payments of $12.53

Late payment fee: $4.90 if your balance is greater than $15 but less than or equal to $50; $14.90 if your balance is greater than $50.

Returned payment fee: $25.

Advertised Price per Month: The advertised price per month DOES NOT APPLY TO A WEBBANK/FINGERHUT FRESHSTART INSTALLMENT LOAN, because it applies only to a WebBank/Fingerhut Advantage Revolving Credit Account. The minimum payment for the WebBank/Fingerhut FreshStart Installment Loan will be calculated at the time of your purchase and will be disclosed to you with your WebBank/Fingerhut FreshStart Installment Loan Agreement. See above for sample Terms of Repayment, in the "Representative Terms of Credit" section.

Credit Card Account: When you obtain a WebBank/Fingerhut FreshStart Installment Loan, you request that we consider you for a WebBank/Fingerhut Advantage Revolving Credit Account issued by WebBank that you can use for future purposes, and that we send you a card with your account number if you are approved. If you pay off your initial purchase within 6 or 8 payments or earlier with no instance of late payments, we will issue a WebBank/Fingerhut Advantage Revolving Credit Account to you. However, if you elect to pay your entire balance due at the same time as your down payment, then this will cancel your WebBank/Fingerhut FreshStart Installment Loan and you will not be eligible to be considered for a WebBank/ Fingerhut Advantage Revolving Credit Account. You will not be eligible to be considered for a WebBank/Fingerhut Advantage Revolving Credit Account if you make any payments past due, have any payments returned unpaid, enter a consumer credit counseling service program, file for bankruptcy, die, or if you enter any other negative credit status.

We will send you your account agreement and important disclosures about the WebBank/Fingerhut Advantage Revolving Credit Account when approved. A summary of the key credit terms of the WebBank/Fingerhut Advantage Revolving Credit Account can be found above, under the heading "Summary of the WebBank/Fingerhut Revolving Credit Account Terms."

Returned Merchandise: Your ability to return any merchandise purchased is governed by Fingerhut's return policy. When you return merchandise, we subtract the return amount from your initial purchase amount; your payment amount will then remain the same, but you will pay off your WebBank/Fingerhut FreshStart Installment Loan earlier. However, if a return (or returns) results in a purchase amount of less than $50, you will no longer be eligible for consideration for a WebBank/ Fingerhut Advantage Revolving Credit Account. If a return (or returns) results in a credit balance, we will also refund your credit balance.

Protections Under the Military Lending Act: Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent (a "Covered Borrower") may not exceed an annual percentage rate of 36 percent. This rate must include: the costs of our optional credit protection product, SafeLine, which is not currently offered to our WebBank/Fingerhut FreshStart Credit Account customers. We do not charge application or participation fees. You are a "Covered Borrower" if at the time of establishing this account you are an active duty service member or an active Guard or Reserve duty member, or you are a qualifying dependent of that member. If you are a Covered Borrower, the provisions of this WebBank/Fingerhut FreshStart Credit Account relating to arbitration do not apply to this WebBank/Fingerhut FreshStart Credit Account involving consumer credit.

NOTE: If you are a Covered Borrower who graduated from a closed-end WebBank/Fingerhut FreshStart Credit Account prior to October 3, 2017, the Military Lending Act protections will not apply to your open-end WebBank/Fingerhut Advantage Credit Account.

Oral Disclosure: If you are a Covered Borrower, you may obtain information about the account by calling us toll-free, at 855-292-6937.


See below for additional disclosures, under "Additional Important Disclosures for All Credit Programs."

Terms that apply to both the WebBank/Fingerhut Revolving Credit Account and the WebBank/Fingerhut FreshStart Installment Loan

Important Information About Procedures For Opening A New Account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you obtain a WebBank/Fingerhut Advantage Revolving Credit Account or a WebBank/Fingerhut FreshStart Installment Loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for your driver's license number or other identifying information.

Arbitration: Your credit agreement will contain a binding arbitration provision. In the event of any dispute relating to your agreement, the dispute will be resolved by binding arbitration pursuant to the rules of the American Arbitration Association. Both you and we agree to waive the right to go to court or to have the dispute heard by a jury. You and we will be waiving any right to a jury trial and you will not have the right to participate as part of a class of claimants relating to any dispute with us. Other rights available to you in court may also be unavailable in arbitration. When you receive your agreement, you should read the arbitration provision in the agreement carefully.

Updated Financial and other Information: Upon request, you agree to promptly give us accurate financial and other information about yourself.

Credit Bureau Dispute: If you believe we inaccurately reported credit history information about you or your credit agreement to a credit reporting agency, write to us at: Credit Bureau Reporting Services, 6250 Ridgewood Road, Saint Cloud MN 56303. Please provide the account or loan number along with a copy of your credit bureau report reflecting the information that you believe is inaccurate.

Consent for Use of Telephone Numbers: You authorize WebBank/Fingerhut, their affiliates, agents, and others calling at their request or on their behalf to contact you at any number (i) you have provided to us (ii) from which you have called us, or (iii) which we obtain and believe we can reach you at. We may contact you in any way, such as calling, texting, using an automated dialer or using pre-recorded messages. We may contact you on a mobile, wireless, or similar device, even if you are charged for it by your provider.

All Accounts, including California and Utah Residents: As required by applicable law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

All Accounts, including New York/Rhode Island/Vermont Residents: You agree to give WebBank permission to access your credit report in connection with any transaction, or extension of credit, and on an ongoing basis, for the purpose of reviewing your Account, adjusting the credit limit on your Account, taking collection action on your Account, or for any other legitimate purposes associated with your Account. Alimony, child support or separate maintenance payments need not be revealed if you do not want us to consider it in determining your creditworthiness. Upon your request, you will be informed of whether or not a consumer credit report was ordered, and if it was, you will be given the name and address of the consumer reporting agency that furnished the report. New York residents may contact the New York State Banking Department: 1-800-518-8866.

Connecticut Residents: Damages may be imposed if a check is dishonored. Connecticut General Statutes §52-565a authorizes our collection of damages for dishonored checks; criminal penalties may also apply.

Maryland Residents: Maryland law requires that if you send us a written request about the status of your Account and we do not answer that request within 60 days after we receive it, you are not required to pay a finance charge for that 60 day period or until we answer.

Missouri Residents: If you prepay your Account in full, you may be entitled to a refund of certain interest under Mo. Rev. Stat. §408.170.

New Hampshire Residents: Reasonable attorney's fees will be awarded to you if you prevail in (a) any action, suit or proceeding brought by us, or (b) any action brought by you. If you successfully assert a partial defense or set-off, recoupment or counterclaim to an action brought by us, the court may withhold from us the entire amount or such portion of the attorney fees as the court considers equitable.

New York Residents: New York residents may contact the New York state banking department to obtain a comparative listing of credit card rates, fees and grace periods: 1 State St., New York, NY 10004, 1-800-518-8866.

Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

Married Wisconsin Residents: No provision of any marital property agreement, any unilateral statement, or court decree under Wisconsin's Marital Property Act adversely affects the interest of a creditor unless, prior to the time credit is granted, the creditor is furnished a copy of that agreement, statement or decree or has actual knowledge of the adverse provision when the obligation to the creditor is incurred. We may require that you pay the entire amount that you have outstanding if you do not pay amounts that come due 2 times within 12 month period. You will also have to pay your entire amount outstanding if you fail to do anything required in this agreement and that failure makes it likely that you will not be able to pay your bills from us as they become due.

Texas Residents: To contact us about your Account call 1-800-208-2500. This contract is subject in whole or in part to Texas law which is enforced by the Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207. Phone (800) 538-1579; www.occc.state.tx.us. Contact the Commissioner relative to any inquires or complaints.