Newegg Preferred Account being terminated? New store card October 1st?

[DLLN]

So I received this email today and I understand it, but what I want to know is what is the "new store card" going to be on October 1st. and how do I get it? Any information would be greatly appreciated. By the way this is my first post here!

 

Dear XXX:

Newegg has informed us, Comenity Capital Bank (the lender of your Newegg Preferred Account), that they have decided to terminate the Newegg Preferred Account Program with us effective on September 30, 2015. 

We value you as a customer and want you to know that you may have other credit options offered to you by us and Newegg. Newegg will be introducing a new store card on October 1, 2015. Additionally, if you already have a PayPal Credit account with us, you can continue to use it at millions of locations where PayPal is accepted. If you do not already have a PayPal Credit account, you can apply at PayPalCredit.com.

Here is how your existing Newegg Preferred Account will be impacted:

• Effective September 30, 2015 the Newegg Preferred Account program will be ending and no future transactions will be authorized. If you have a plastic Newegg Preferred Account credit card you should destroy the credit card after this date.
• Your Newegg Preferred Account will still be accepted on Newegg.com between now and September 30, 2015.
• Any promotional financing or special offers involving the Newegg Preferred Account program advertised after September 30, 2015 are no longer available.
• Even though the program is being discontinued, the terms and conditions associated with your Newegg Preferred Account are still in effect.
• If you have a balance on your Newegg Preferred Account, you will continue to receive monthly billing statements. You will be responsible to make at least the minimum payment each month, until your balance is paid in full.
• You will still be able to access your account online at www.newegg.mypreferredaccount.com, to view monthly statements, make payments and manage your account profile.

If you have any questions regarding your Newegg Preferred Account or this notice, please call 1-888-609-0794 Monday-Friday, 7 a.m. to 1 a.m. Eastern and Saturday-Sunday, 9 a.m. to 11 p.m. Eastern. Thank you for your business, and we apologize for the inconvenience caused by this change.

Sincerely,
Comenity Capital Bank

 

 

[thedarkdad3]

See my thread here

http://linustechtips.com/main/topic/434998-united-states-clientscustomers-newegg-line-of-credit/

[DLLN]

Thanks but that doesn't answer my question. I am well aware that businesses often switch financial institutions for their lending. What I am trying to investigate is what Newegg's new store card will be, as they are terminating the "Newegg Preferred Account program".

[Wingfan]

I was thinking of getting a Preferred account. Following this.

Im already a Premier member, gotta love the 3 day free shipping on most anything

[DLLN]

I had the free trial of Premier. It's pretty comparable to Amazon Prime. Hopefully Newegg makes something like a Premier Store Card to take place of the Preferred Card when it gets terminated.

[jewelia]

Expect the new deal will just be a standard credit card, maybe with some sort of points reward system attached--who knows.  New Egg Preferred was a good deal where you typically could finance Newegg purchases of $500 for 12 months free of interest.  They were pretty tight with issuing Preferred accounts however.  A regular creidt card would qualify more people.  But not everyone needs another credit card.  No one will be able to say for sure until Oct. 1, I suppose.  Newegg isn't what it used to be in a lot of ways IMO.