I think that it is actually a pretty poor idea for almost everyone.
Look at the details on the site and you will find that it is basically just another credit account. Since you pretty much can't do business with them unless you have access to some type of plastic money in the first place, why would you need to have yet another form that is specific to them? Also, people really should note that they charge 21.99% interest if you float any balance at all with them. That is a killer interest rate and considerably higher then you will get from your own bank (or if you use a debit card it is 21.99% more interest than you would pay to use your own card).
Basically, the place that such an account might make sense would be for someone who has a viable business building and reparing computers and who can afford to pay the bill in full every month. If that is not you then stay far, far wawy from a newegg preffered account.