Newegg.com Preferred Account Review
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Written by: patrick12 on 2009-10-21

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patrick12's review: I decided to apply for this card as well, being issued through Cit Bank, I figured getting this card would help with my utilization as well, I opened up an account and applied, was instantly approved for a $4,000.00 credit limit, zero interest for 1 year! And the rate is 21.99% after that. Same equifax information, 656 score, low DTI, I have 3 accounts now with CIT, Fingerhut, Dell, and now NewEgg. I probably wont use them, well see, Christmas is coming up so who knows, but the 4,000 dollar credit line will definately help with my overall utilization!


Comment 1 by dm
Re: Approved! on 2009-10-21

I hope this helps your utilization ratio. My experience with CIT is that they do not report to any credit reporting agencies. Doesn't help utilization, but it is nice to have a "hidden" tradeline.
Comment 2 by danababy98
Re: Approved! on 2009-10-24

This card will not show up on your credit reports... Utilization will not be helped. :)
Comment 3 by patrick12
Re: Approved! on 2009-10-24

Well shucks :(
Comment 4 by hjm331
Re: Approved! on 2009-10-26

I have had this card for about 2 years and they reduced my limit from $2,000 to $300. It doesn't report to your reports but it might be a good thing if you plan on buying a large ticket item and pay it off within 6 to 12 months.
Comment 5 by wanderer
Re: Approved! on 2009-11-06

Got'a luv the hidden tradeline. Had two with Capital One. Then they decided to kick the business card customers. Oh well...
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