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Established Contributor
Posts: 739
Registered: ‎06-30-2007

TigerDirect Preferred Account

I applied for TigerDirect Preferred Account and got denied , but here the kicker I thought apply for a run of mill retail card ,but the url on my status bar was bill me later they advertise as a payment option would not ever think TigerDirect Preferred Account would be such a thing, and since I do not like credit accounts that play games I would not bother to applied so heads up
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
New Member
nsanks7601
Posts: 1
Registered: ‎03-31-2010

Re: TigerDirect Preferred Account

It is a bill me later account but you can only use it at TigerDirect.  I have the NewEgg.com Preferred account.  I tried to get the regular bill me later account that you can use at any online store that accepts bill me later but I was not approved for that.  Webank will be/or has already taken over CIT bank bill me later accounts. 

Established Contributor
Posts: 739
Registered: ‎06-30-2007

Re: TigerDirect Preferred Account

[ Edited ]

From what I understand billmelater does not give credit lines ,instead decide if they will extend credit each time you "try" to use it. it is the demonic version of a American Express charge card

this is from bill me later FAQ


Do I have a credit line and how much is it?

Yes. Once you open a Bill Me Later account you will have a credit line, which we call your "buying power".

Once you have completed your first purchase using Bill Me Later, we at WebBank open a Bill Me Later account with buying power equal to the amount of your purchase or $500, which ever is greater. You can now use Bill Me Later to make additional purchases. If those purchases would cause your outstanding balance to go above your buying power, then we will reevaluate your buying power and may increase it, subject to credit approval. This happens seamlessly during the checkout process you don't need to do anything and it won't slow down your checkout.

On an ongoing basis, your buying power will be either the highest total of balances you have had outstanding on your account at any time or a lower amount of which you have received notice, but will not be less than $500. Here's an example of how this works:

 

  • If your first purchase using Bill Me Later is $350 dollars, your initial buying power will be $500.
  • If before you pay your first bill you make another purchase for $300, we will adjust your buying power to $650. (This increase is subject to credit approvalif it's declined, we will send you a notice explaining why.)
  • If you then pay off $350 of your first bill, you will have $350 of buying power remaining. If you want to make another purchase using Bill Me Later for more than $350, we will make a dynamic assessment to increase your buying power again (subject to credit approval).
  • You can always continue to make additional purchases up to your outstanding buying power, and we will consider increasing your buying power when your purchase goes above it.
  • People say "Only apply for credit you NEED"

    I say "apply for credit you have PRATICAL use of"

    I don't have AMEX card because I don't want a card that suffers from PMS
    Valued Member
    ncks
    Posts: 41
    Registered: ‎10-12-2009

    Re: TigerDirect Preferred Account

    I have a $2000 credit limit with my Newegg.com Preferred account.  I applied before ordering anything and was approved for $2000.  I received mine before they sold out to WebBank.

    Regular Contributor
    stefanc
    Posts: 220
    Registered: ‎11-16-2007

    Re: TigerDirect Preferred Account

    Are the WebBank accounts NewEgg, MacMall etc. (either old/transferred from CIT - or new accounts) still hidden tradelines? Does anybody know?

     

    TIA

    Established Contributor
    Posts: 739
    Registered: ‎06-30-2007

    Re: TigerDirect Preferred Account


    stefanc wrote:

    Are the WebBank accounts NewEgg, MacMall etc. (either old/transferred from CIT - or new accounts) still hidden tradelines? Does anybody know?

     

    TIA


    it is not reported is not webbank part of citi citi was named as the lender in the terms, I have not received inquiry alert
    People say "Only apply for credit you NEED"

    I say "apply for credit you have PRATICAL use of"

    I don't have AMEX card because I don't want a card that suffers from PMS
    Valued Contributor
    MrShush
    Posts: 1,412
    Registered: ‎04-18-2008

    Re: TigerDirect Preferred Account

    I have a Newegg card also. The limit is 4K and I got it last year under CIT/BML. Hard pull EQ but does not report. Yes, it is still a hidden trade. 

    Valued Member
    ncks
    Posts: 41
    Registered: ‎10-12-2009

    Re: TigerDirect Preferred Account

    WebBank owns the accounts now.  I received a letter stating that as of Sept 1 CIT bank will not be the lender anymore.

    Frequent Contributor
    JMN
    Posts: 321
    Registered: ‎10-25-2009

    Re: TigerDirect Preferred Account

     


    rbbyrbsn wrote:

    stefanc wrote:

    Are the WebBank accounts NewEgg, MacMall etc. (either old/transferred from CIT - or new accounts) still hidden tradelines? Does anybody know?

     

    TIA


    it is not reported is not webbank part of citi citi was named as the lender in the terms, I have not received inquiry alert

     

    CIT, not Citi. Two different companies, just fyi.

     

    And so far, both of my Bill Me Later and NewEgg Preferred Accounts are still hidden. I kinda want the NewEgg account to report since it's a $14,000 trade-line, but oh well. I won't complain since I could hide an electronics purchase on there, if I'm ever in the mood to revolve a major purchase.

    Despite my employment in the banking industry, any and all views contained in this post are purely my own, and do not represent any financial institution, nor constitute as financial or investment guidance or advise.

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