Why can't I get a newegg preferred account?

[Jschmuck2]

So here's something interesting - I've decided that i need to establish some credit, as all I have currently is one smallish student loan (which I've never been late in paying).

I thought I'd sign up for Newegg's preferred and buy myself a new hdtv (hey, i've earned it). Problem is, my app keeps getting shot down online. Apparently (according to the email I received) the information I'm providing doesn't match the information that they have.

I currently only use a check card and nothing else as I've been trying to avoid straight up CC's for a while.

Whaddya think?

 

[Jschmuck2]

ttt

 

[intogamer]

could it be that you don't have established anything because you never started a CC?

I'm not sure though.

 

[Aimster]

so youve applied and they rejected you then you reapplied and they rejected you again?

is that what you are saying?

 

[Jschmuck2]

Correct aimster. Although, i've never tried to actually PURCHASE something this way, only apply for the line of credit itself.

 

[huberm]

try getting a student card first to establish some credit

 

[Aimster]

When you applied the first time and they rejected you it went on your credit report

The second time you applied it again went on your credit report, thus making your credit even worse (I could be wrong but I am almost certain this is not good).

Now what you need to do is get a report of your credit and see what exactly is going on.

After this I dont think any place is going to give you a credit card. It shows on your credit report that you have rejection(s).

Go put $2,000 in the bank savings and go to your bank and ask to borrow a $2,000 loan. Since you have no credit put the $2,000 down as collateral. Then take that $2,000 loan put it in another bank's savings and take out another loan. You will lose like $100 doing this, but it will help your credit score. It will show you took out two loans and paid them off. Pay the loans off in 3-6 months. Repeat process again.

After 1 year your credit score should be good enough to get a basic credit card (& please avoid capitalone)

 

[Jschmuck2]

I don't think that sounds right at all. Comments from the peanut gallery?

 

[Fayd]

no, aimster's correct. applying for credit cards, lines of credit, etc. will cause your credit score to drop.

also, getting your credit report will also cause your credit score to drop.


it's kinda a ****** up system. i suggest getting a credit card, and paying it off every month. maybe a year or two down the line, try again.

 

[marketsons1985]

maybe call them? you said their email says their info doesn't match yours, so maybe you are typo-ing something silly and they're not rejecting you at all because of your non-existent credit, but just because you typed Ave. instead of Dr.?

 

[Injury]

Originally posted by: marketsons1985
maybe call them? you said their email says their info doesn't match yours, so maybe you are typo-ing something silly and they're not rejecting you at all because of your non-existent credit, but just because you typed Ave. instead of Dr.?

Yes, call the number they give. You are LEGALLY ENTITLED to the credit report they got on you, so you need to obtain a copy of it and see where the problem lies... and at most it might cost you a buck or two to get a copy printed and mailed (cheapass way to make back a the minute amount of money spent on getting the report on you by companies)

Get back with us when you see your credit report and can tell us more about what is on it.

As far as your current standing, Student Loans to very, very little in establishing credit. It's a poor basis for determining one person's credit because parents usually have to cosign and half of the time the parent pays the bill anyway.

 

[ranmaniac]

Originally posted by: Fayd
no, aimster's correct. applying for credit cards, lines of credit, etc. will cause your credit score to drop.

also, getting your credit report will also cause your credit score to drop.


it's kinda a ****** up system. i suggest getting a credit card, and paying it off every month. maybe a year or two down the line, try again.

Getting your credit report does not lower your credit score, in fact it can only help to improve it if there's wrong information that needs to be corrected. Now if a loan/cc company pulls up your credit report, that does have some impact. Employers and insurance companies can pull up your credit report for verification purposes etc, but that does not lower/raise a credit score.

 

[Jschmuck2]

Actually, what I got from them was an email asking me to follow a link to tell me what the deal was with my rejection. Here's the verbatim statement:

"This letter is in response to your recent request to open a Newegg.com Preferred Account. We regret that we are unable to approve your request at this time for the following reasons:

We were unable to verify all of the information you provided to us in your application."

I poked around online and saw some other people had the same problem. Could it be that the last verified address I have on there isn't the one I live at currently?

 

[Injury]

Originally posted by: Jschmuck2
Actually, what I got from them was an email asking me to follow a link to tell me what the deal was with my rejection. Here's the verbatim statement:

"This letter is in response to your recent request to open a Newegg.com Preferred Account. We regret that we are unable to approve your request at this time for the following reasons:

We were unable to verify all of the information you provided to us in your application."

I poked around online and saw some other people had the same problem. Could it be that the last verified address I have on there isn't the one I live at currently?

Possibly. I'm sure you could see how that could indicate fraud/identity theft.

 

[Jschmuck2]

Well no, because the address is my last permanent address AKA my parent's house.

 

[thirdlegstump]

Just because you have nothing bad on there doesn't mean anything to the lender. You need to establish a solid credit history before they'll even consider you and the best way to do this is to get a secure credit card and start from there, for at least a year. American Express recommends 3 years and a solid income to get any of their cards for the record.

 

[Injury]

Originally posted by: Jschmuck2
Well no, because the address is my last permanent address AKA my parent's house.

But did you put in your current address anywhere on the application, or did you apply as if you were living with your parents?

 

[Jschmuck2]

I used my current (and now permanent address). I was thinking about using my parent's address, but I don't want to drop in another CC application and risk it appearing on my credit card. I'm on the phone with chase bank currently and I'll see what they have to say. They're the issuing bank for Newegg pref. account.

 

[Paperdoc]

In my expereience you get no satisfaction at all from the phone desk. The bank that authorizes credit simply requests and receives the Credit Report from a separate agency, and they can do NOTHING about what that report contains. In fact, from what their automated e-mail says, I suspect they could not get a Credit Report because something did not match up.

But as someone else said, you have a right to obtain a free copy of the Credit Report that was the basis for rejection (IF they got one). It says so in their e-mail and written correspondence, and it tells you how to get it. Do that, and look closely at the info to be sure it matches up with what you provide now for your application. Things like addresses, phone numbers and which initials you use are important. Maybe that will tell you how to apply again with the right info.

If there is misinformation in the Credit Report you also have the right to have that corrected, and you should receive instructions on this process with the Report.

 

[SmoochyTX]

OP, have you tried contacting Newegg's Customer Care?

1-888-609-0794

 

[Jschmuck2]

Thanks for your input everyone!

After doing the phone dance with Chase, they could do absolutely nothing for me. So I called BillMeLater, which according to Newegg, handles all of their preferred account nonsense.

The rep was very helpful and we narrowed it down to the address on my credit report not matching the billing address I have listed on Newegg.

Is there a way to change that?

 

[SmoochyTX]

Originally posted by: Jschmuck2
Thanks for your input everyone!

After doing the phone dance with Chase, they could do absolutely nothing for me. So I called BillMeLater, which according to Newegg, handles all of their preferred account nonsense.

The rep was very helpful and we narrowed it down to the address on my credit report not matching the billing address I have listed on Newegg.

Is there a way to change that?

Why didn't you ask the rep that question????

 

[brandonbull]

Originally posted by: Fayd
no, aimster's correct. applying for credit cards, lines of credit, etc. will cause your credit score to drop.

also, getting your credit report will also cause your credit score to drop.

it's kinda a ****** up system. i suggest getting a credit card, and paying it off every month. maybe a year or two down the line, try again.

Checking your own credit never causes your score to drop.

 

[Jschmuck2]

Good question smoochy - she told me that she isn't familiar with credit reporting systems and could only help me with my BillMeLater questions.

 

[SmoochyTX]

Originally posted by: Jschmuck2
Good question smoochy - she told me that she isn't familiar with credit reporting systems and could only help me with my BillMeLater questions.

Did you try calling that number I listed in a previous response? 1-888-609-0794

That is the Newegg customer care # for Preferred Account holders. While you don't have an account, maybe they can help you. This whole 'address' thing sounds stupid.

I'm assuming the address on your credit report belongs to your parents and the billing address is your own place correct? If companies didn't give out credit just because of that then everybody that had a credit card would still be living with mommy and daddy.