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Verdict: Financing through a Dell Preferred Account can be a good option for those who are responsible and can pay back the balance in full within 6 months. If the balance is not paid off within 6 months I would not recommend financing through Dell because you are hit with an extremely high interest rate and have to pay all interest that would have accrued since your purchase.
For those of you who are looking for a better alternative for earning rewards on your electronics purchases, I would recommend the Discover More Card which allows you to earn 5% back on all Dell.com purchases you make through the ShopDiscover program. You can also earn 5% back on your other purchases such as travel related purchases, home improvement purchases, and on gas.
Overview: Dell offers a financing option, the Dell Preferred Account for those who are looking to finance their dell purchase. This is not a traditional credit card but a loan offered through Dell.
How this card works: This card allows you to finance your Dell.com purchase (presumably a computer) through Dell. If your purchase is $699 or over, you have 6 months to pay off your balance interest free.
Like financing options that are offered by Apple – The catch which this is that you fail to pay your balance off completely in 6 months, you are then required to pay the balance with interest accrued from the date that the computer was purchased. I HIGHLY recommend avoiding this program if you can’t pay off your balance in full in the 6 months because you will be hit with an extremely high interest rate (the exact rate depends on your credit).
- No interest on purchases for 6 months.
- After the 6 month promotion period is up, you are hit with an extremely high interest rate.