What Is a Dell Preferred Account? (2019 Updated)

When paying for a purchase at Dell, you always have the option to use credit and debit cards. Specific Dell Home customers can also pay using a Dell Preferred Account. The service's name makes it sound like an exclusive program for elites, but this financing program is available to many shoppers. Dell Preferred Accounts provide a quick line of credit for those who qualify, but may not be the right choice for everyone. Dell Preferred Accounts Dell Financial Services and its affiliate WebBank offer credit to customers through Dell Preferred Accounts. Use a Dell Preferred Account to finance a computer or other purchases through Dell just as you would at any other retailer. These accounts are available only for personal purchases for home use and require monthly payments. Dell Preferred Account balances also accumulate interest and are subject to a credit limit. Applying for an Account You can apply for a Dell Preferred Account through Dell Financial Services' website or by phone. The process is similar to applying for a store charge account or credit card. According to Dell Financial Services, you can receive a decision almost instantly. You must be of age to apply for a Dell Preferred Account, and doing so authorizes Dell Financial Services to check your creditworthiness through its partner, WebBank. On the application, including your name, address, yearly income, employment status, and Social Security number. Advantages of Dell Preferred Accounts Using a Dell Preferred Account lets you pay for your Dell purchases over time, which is helpful if you don't have cash on hand. Dell offers Preferred Account customers special offers on computer purchases, such as no interest for 12 months, in some cases. Dell Financial Services doesn't charge prepayment penalties or a yearly fee. You can pay your balance online or by check. Disadvantages of Dell Preferred Accounts Dell's financing terms aren't as generous as many bank loans and credit cards. As of the date of publication, Dell charges between about 20 and 30 percent APR on Preferred Account charges, depending on your creditworthiness. The credit limit varies based on your credit history. Dell also charged late payment and returned payment fees of up to $37. As with any loan or credit card balance, making the minimum required payment each month versus paying off your balance as soon as possible is quite costly. According to Dell Financial Services, it will take 13 years to pay off a $1,000 purchase if you make the minimum payment of $30 a month at 29.99 percent annual percentage rate or APR. In the end, the principal plus interest will amount to a whopping $3,826.22. Failure to pay on time or defaulting on your line of credit will adversely impact your credit score. How to Apply Online for Dell Preferred Account? You can get free Dell gift card codes from CouponPrizes.com by completing surveys, downloading apps & games. Daily login bonus, referral links, spin wheel and so on. You must be a resident of the U.S. to use the online application. Go to the online application on the Kohl's website. Enter the application by selecting the "Apply Now" button. You will receive the Kohl's account opening disclosures, card member agreement, and credit card privacy policy electronically when applying online. If you are responding with a personal offer code you received in the mail, you can enter this at the beginning of the application process. Otherwise, leave this space blank and select "Continue." Fill in all the required fields with your information, including checking the box to sign up for sale alerts if you want an email to get 15 percent off your next purchase. To apply, you must agree to the terms and conditions. Credit decisions can take as little as 60 seconds. 1. Dell Preferred Account is a Revolving Line of Credit which is only available for items purchased for personal and home use. APR's and credit limits may vary with creditworthiness, as determined by WebBank, Member FDIC. 2. Promotional Financing Offers may vary and are subject to eligibility requirements. Future purchases may be subject to different terms and promotions. Approval for the Dell Preferred Account does not guarantee eligibility for Promotional Financing Offers. 3. Minimum monthly payments are required and are equal to 3% of the New Balance or $20, whichever is greater, as shown on the monthly billing statement. 4. I am of legal age to enter into a binding agreement. Upon approval and verification, I can immediately use my Dell Preferred Account.Review each help tip below to understand how Dell may use your information. 5. Dell Financial Services stores applications for 30 days. If you have an existing DFS account or pending application, we will not consider this submission as an application and will route you to your existing account or application.