Bill Me Later payment option

mimibajiduh

Member
Jun 11, 2009
212
0
can someone please explain this bill me later option? it says it is part of paypal and that if you choose the bill me later option, you dont have to pay for a whole 6 months...this seems too good to be true. are there some hidden charges/fees that you have to pay every month or something? what are your experiences with this? i dont want to choose the option and then when its time to pay, i see a huge amount because they added fees to my total amount.
 

NITE_FOXX

Member
Feb 14, 2010
2,171
1
BEAUTIFUL SOUTH
its like a credit card but an online one,you dont see the card ever to my knowledge. it just pays the amount for your purchase then you pay the bill later. go on the site for more detailed info.
 

echo_23

O.G.
Oct 2, 2006
5,015
5
36
Houston
I have used it before, just for extra Ebay Bucks, but wouldn't use it if I didn't have the money sitting there to pay it off with. There are no hidden charges as long as you pay off your balance on time. Let it sit while interest is charged and it's pricey! It's actually linked through paypal so you can pay it off through there.
 

mimibajiduh

Member
Jun 11, 2009
212
0
so if its like a credit card then that means they will charge me interest every month until my balance is paid off, right? so then why do they say you dont have to pay for 6 months? sorry if this seems like a really dumb question but i am just confused, lol. i always pay my full balance every month on my credit cards because i dont want to be charged interest so thats why i want to make sure that i dont get charged interest with this service either.

like lets say that i bought something right now but i dont make any payments until oh lets say 3 months from now...when i pay, will i be paying just the original balance or will it be the balance + interest? the site says you get charged interest if you dont pay your balance by the 6th month. i just want to make sure im understanding this correctly.
 
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LindaP

O.G.
Dec 31, 2007
9,034
9
Blue Ridge Mountains, Virginia USA
It's interesting you should mention this. I recently won and item and when I went to pay for it next to the Ebay Mastercard option (I do already have their MC) it says 'buy now, pay later'. So I go hunting for what exactly that means. All CC's are buy now pay later technically. Is it a free financing offer? I can't find anything on it in the help section, it wasn't 'bill me later' it was 'buy now, pay later'. So I call Mastercard, they have no idea, they transfer me to PayPal who says they have no idea, MC should know this.

In the end I just used the Amex card I normally do for paying for auctions and the heck with that mess.

Linda
 

patriot511

Member
Feb 1, 2009
567
1
I joined when it was 3 months no payments, no interest. It worked out just fine. It was exactly what it says. I didn't get charged interest or have to make payments for 3 months. After the 3 month promotional period expires, you will have to start making regular minimum payments until the balance is paid off and you will be charged interest accordingly. You can pay it all off at once if you choose to do so as well. It is not a physical credit card and it's NOT reflected on your credit reports with Equifax, Experian and Transunion. You can pay right through the Paypal website and it's extremely easy to manage. I use it from time to time and i'm happy with the system.
 

jenjen1964

O.G.
Mar 17, 2006
564
203
The West 'burbs, Chicago
I am looking for an LV right now on ebay and we have bill me later (for our computer purchases). I want to bid but can't find anywhere that BML is accepted for payment. Don't want to irritate a seller so can someone tell me if you can still use BML for e-bay auctions?
 

saira1214

O.G.
May 13, 2007
12,108
84
USA
I would stay away from this auction if purchasing high end items such as handbags or electronics. I used BML for a purchase of a handbag. I received the handbag and it was a SNAD. Because PP, Ebay and BML are all in bed together, I lost my SNAD claim and really had no way of appealing it.
 

jenjen1964

O.G.
Mar 17, 2006
564
203
The West 'burbs, Chicago
I would stay away from this auction if purchasing high end items such as handbags or electronics. I used BML for a purchase of a handbag. I received the handbag and it was a SNAD. Because PP, Ebay and BML are all in bed together, I lost my SNAD claim and really had no way of appealing it.
Thanks for the help, I feel pretty good about the seller (checked the authenticate this threads for previous feedback) but you have a really good point if I was buying something really expensive!
 

saira1214

O.G.
May 13, 2007
12,108
84
USA
Thanks for the help, I feel pretty good about the seller (checked the authenticate this threads for previous feedback) but you have a really good point if I was buying something really expensive!
Whoops, meant to say stay away from BML. :P
 

BerryWriter

Member
Jan 20, 2010
1,072
0
It's the same as a credit card. You have to pass a credit check. If you pay off your balance within the first 6 months, there is no interest. If you take them up on their offer to not pay a dime for 6 months, you'll get slammed with 6 months interest once you do start paying, plus finance charges. It's just a virtual credit card.
 

LoveMyMarc

♥'s MJ, RM, & LV
Jul 6, 2008
3,130
3
Sunshine State
OK, so if you choose this option, you're only charged fees if you're LATE on your payment? Are you charged interest no matter what when you make a purchase?