Anyone have a Newegg "preferred" account?

[Diiz]

My PC recently went down the shitter, and as such I am rebuilding from scratch. I have a $643 purchase I am about to make from newegg, and I notice the "no payments for 6 months with newegg preferred account". Link is here:

http://promotions.newegg.com/NEPA/index.html

So what's the deal on stuff like this? You are talking to someone with absolutely no credit card experience (the only credit history I have is making car payments), so I don't understand what the catch is. I notice that it says if you pay in full before the 6 months are up, it makes it seem like there is no interes charge... but that doesn't seem right. So what's the real deal with stuff like this? Worth it? Not? With a $643 bill, it'd be nice to soften the blow and spread out my payments, but not if it's gonna end up costing me another $200 in the long run. Can anyone make sense of this stuff for me?

[Callandor]

As far as I can tell, if you pay off the whole $643 within the six months, you are charged no interest whatsoever.

If you fail to pay off the whole $643, then they charge you interest. Not only on the remaining balance, but I would figure they calculate interest for each monthly bill and also charge you that. So you get back interest if you can't pay off the whole balance by December.

In other words, if you know you can pay it off within six months, do it. If not, then find a decent credit card (21.99 APR is a ripoff) or just pay it all right away.

...though this deal may no longer be valid since it ended 5-31-06...

[Diiz]

Eh, if it ended already it's probably for the best anyway... :lol: Thanks for the info, that's what I figured but just wanted to have a little reinforcement.

[dabears1]

its like a credit card. u will get the 6 months no intrest only when there is a promo. other then that u will get a 1.1% apr. i tried to get it, but didnt. i think it is based in how much you make a year. try it, it is a good card to have

[allout1986]

I got it when I was building this PC. Its just as it says, no interest for the 6 months, but they will add up the interest for that over the 6 months if you don't pay it off. I paid mine off in about 3 months so I didn't have to worry about it anymore.