PSA: All Newegg Preferred Accounts no longer any good

[MichaelD]

For a week now, I've been trying to place an order w/Newegg using my Newegg Preferred Account; however that payment option has been disabled in the check out process.

I called Newegg last week and got the "We're having problems w/that" speech. Really? No B.S.? :roll: The CSR couldn't explain why, all she knew was "it was broke."

Anyway, I called Newegg this morning to see what was new...same thing.

So I called the AIG Preferred Account Line: (800) 453-2017 spoke w/a CSR, who was not in the know, who got her supervisor.

Apparently, AIG has suspended operations with Newegg due "to problems." Newegg is no longer accepting the Preferred Account as a payment option. This is from the bank, not Newegg. Two diff N.E. CSRs and both were clueless.

Obviously, if you have a balance (I don't) you still owe AIG. AIG closed my account on the spot and sent me a confirmation letter.

So, FYI; if you're a Preferred Account holder, you're SOL if you planned on using it anytime soon.

ps
B/C I know someone will ask: Yes, I know the interest rate is 21%, but if you pay off your balance every month, it's not an issue, now is it? 😀

 

[ViRGE]

Just out of curiosity, what is a Newegg preferred account? I haven't heard of them before.

 

[MichaelD]

Originally posted by: ViRGE
Just out of curiosity, what is a Newegg preferred account? I haven't heard of them before.

Newegg hooked up with AIG Bank and offered this "preferred account."

Essentially, a high interest, cardless, credit card. You placed your order with NE, but got billed from AIG.

21% interest, but a 30-day grace period; I always got a statement and paid in full before the grace period ended, so no foul.

I got the account b/c I was the victim off internet CC fraud thru Gigacase.com. Don't buy anything from them!!

Anyway, after that experience, I was gunshy about giving out CC info over the net. The preferred account was a perfect solution; no number given. You just select "Preferred Account" at the checkout. 🙂

 

[Balt]

Originally posted by: MichaelD

Originally posted by: ViRGE
Just out of curiosity, what is a Newegg preferred account? I haven't heard of them before.

Newegg hooked up with AIG Bank and offered this "preferred account."

Essentially, a high interest, cardless, credit card. You placed your order with NE, but got billed from AIG.

21% interest, but a 30-day grace period; I always got a statement and paid in full before the grace period ended, so no foul.

I got the account b/c I was the victim off internet CC fraud thru Gigacase.com. Don't buy anything from them!!

Anyway, after that experience, I was gunshy about giving out CC info over the net. The preferred account was a perfect solution; no number given. You just select "Preferred Account" at the checkout. 🙂

I thought the appeal of the preferred account was that you got 90 days to pay it off w/ no interest. Did they change the TOS? 😕

Not that it matters anymore, just curious...

 

[Staples]

I never even knew about it till yesterday when I bought some stuff from there. On the checkout page, it says they no longer accept preferred account payments.

 

[MichaelD]

Originally posted by: Balt

Originally posted by: MichaelD

Originally posted by: ViRGE
Just out of curiosity, what is a Newegg preferred account? I haven't heard of them before.

Newegg hooked up with AIG Bank and offered this "preferred account."

Essentially, a high interest, cardless, credit card. You placed your order with NE, but got billed from AIG.

21% interest, but a 30-day grace period; I always got a statement and paid in full before the grace period ended, so no foul.

I got the account b/c I was the victim off internet CC fraud thru Gigacase.com. Don't buy anything from them!!

Anyway, after that experience, I was gunshy about giving out CC info over the net. The preferred account was a perfect solution; no number given. You just select "Preferred Account" at the checkout. 🙂

I thought the appeal of the preferred account was that you got 90 days to pay it off w/ no interest. Did they change the TOS? 😕

Not that it matters anymore, just curious...

yeah, if the order is over $300. It be dead now, though. 🙁

 

[Turkish]

Bah, I hate this. I loved my Preferred Account 🙁