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 Replies: 20 / Views: 4,067 |
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Pillar of the Community
United States
4870 Posts |
Has anyone used the Bill Me Later that is offered on ebay through Paypal? How was your experience with it? |
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Pillar of the Community
United States
5825 Posts |
No way I'll use it.
It's like taking out a bank loan.
It's going to cost you more.
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Pillar of the Community
Canada
3167 Posts |
 That's what it sounds like to me, although I've never used it myself. |
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Pillar of the Community
 United States
4870 Posts |
From what I have read, if you pay it off within 6 months there is no intrest.
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Pillar of the Community
United States
1699 Posts |
I used it and was never billed anything over the amount of the transaction. I paid it off almost immediately after payment for the item. Depending on how much you purchase on ebay, it is definitely worth using. If you only make a couple ebay bucks during each period, it isn't really worth it. I haven't used it for a while, so the system could be a little different now then what I used to work with. |
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Pillar of the Community
United States
7840 Posts |
I have used it for a couple of purchases over $99 and paid it off within the six month period...no problems and no interest.
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Pillar of the Community
United States
4870 Posts |
Now can you make payments anytime you wish or do you have to wait for a bill to be sent? Or is there any limits on how many payments you can make in a specific period of time?
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Pillar of the Community
United States
1211 Posts |
I have and do use Bill Me Later. I dont typically advocate for "credit" types of payment, but for some things it works well.
If I want a coin that may be $150, $200 or more, I realistically do not have that kind of spare cash. However, I can pay it off in small chunks over the course of 6 months without a problem.
There is no interest for purchases over $99 if paid in 6 months.
If you can manage your money and budget properly, theres no reason it shouldnt be an option. You can either send a check or pay directly through paypal if you have money in your balance. Its actually very simple.
Also, if you ever have a question, you can call Bill Me Later and they are VERY helpful and can clearly explain exactly what is due and when.
Again, I am not advocating any kind of "credit/pay later" philosophy, but I have used BML and it has been beneficial for me personally.
Be careful though. DO not bite off more than you can chew. Just like anything, you can sit and buy, buy, buy, then suddenly be 1k in the hold and scrambling to pay it off in time. I would reccomend one purchase at a time and pay off your debt completely before buying anything else.
Best of luck to you in whatever you feel works best!
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Pillar of the Community
Canada
3167 Posts |
Hmm... maybe I'll need to look into this...
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Pillar of the Community
United States
7840 Posts |
You can make additional payments on top of the scheduled minimum payments.
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Pillar of the Community
United States
4870 Posts |
There is some very good information in this thread! BML sounds like it can be a valuable tool if used responsibly. I believe there is a promotion for first time users where you can get $10 back on your first purchase as well.
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Pillar of the Community
United States
1211 Posts |
"BML sounds like it can be a valuable tool if used responsibly."
This says it all.
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Valued Member
United States
395 Posts |
I have used it for years off and on... usually laptop purchases that I want to spread out interest free for 6 months. Do not let it go past 6 months though... Even with stellar credit their rate is a bit nuts. Also, if I'm not mistaken, if you past the 6 month marker, they charge the interest you missed out on since day one (again, I THINK thats how they do it). I accidentally let it go past 6 months only 1 time... I had bought a few things scattered over a few months and lost track of purchase one and burned myself. Paying off balance solved that quickly, but I believe I had to pay that extra "free" interest.
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Pillar of the Community
United States
4870 Posts |
If I sign up for BML, must I use it with ALL Paypal transactions or can I pick and choose what I want to use it on? I guess what I am asking, does Paypal automatically use BML on all Paypal transactions?
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Valued Member
United States
395 Posts |
No, you can pick and choose the transactions, just as if it was a secondary credit card on your paypal account. You can also use BML at a ton of other places. They even have "coupons" for various stores above and beyond the store specials.
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Pillar of the Community
United States
500 Posts |
I've used it and it is fine, IMO. Just make sure and pay off the balance within 6 months and there is no interest. You can pay anytime via Paypal. The one drawback is you have to pay via bank withdrawal so no credit card cashback. They give you the 1% ebay bucks instead. I've used it many times now. Gives you 6 months to pay. If you always pay off your debts like I do it is fine! |
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Replies: 20 / Views: 4,067 |
Posted 09/18/2013 10:04 am
