Bill me Later
- Thread starter Sean7a
- Start date
- Joined
- Mar 26, 2009
- Messages
- 1,640
Sorry for lack of context. Talking about Paypal's "Bill me Later" service. Apparently it's now built into all paypal transactions. I wasn't aware. About 6 months ago it was simply a service offered to only some online merchants. Now it seems it's built into the paypal infrastructure.
I used it to buy several big ticket items and payed them off within 6 months to avoid paying interest. One time I bought a relatively cheap item and didn't realize it didn't have 6 months no interest attached to it and they got me with a huge fee. I cancelled bill me later and avoid using paypal unless its the only option now.
SittingElf
Member
- Joined
- May 28, 2013
- Messages
- 1,371
+1 on BillMeLater!
I have used it repeatedly over the last few years (even before PayPal bought them out), and have been very satisfied.
Great for spreading cost of purchases over six months without paying interest. But beware, if not paid off within the specified time frame, all interest (and HIGH interest) from the previous six months (12-months on some specials) is added, and it then acts like a high-interest credit card.
Pay it off within the free interest time frame, and it's magic!
I have used it repeatedly over the last few years (even before PayPal bought them out), and have been very satisfied.
Great for spreading cost of purchases over six months without paying interest. But beware, if not paid off within the specified time frame, all interest (and HIGH interest) from the previous six months (12-months on some specials) is added, and it then acts like a high-interest credit card.
Pay it off within the free interest time frame, and it's magic!
ShawnRussell
Member
- Joined
- Sep 2, 2011
- Messages
- 251
I am one of those all cash wackos so it is not of much use to me. I use a credit card with great points bonus and pay it off in 25 days.
Sparktrician
Member
- Joined
- Dec 4, 2009
- Messages
- 4,608
ShawnRussell said:
+1!!! I got a very decent sound system for my TV using the bonus points from credit card purchases paid off early.
- Joined
- Mar 26, 2009
- Messages
- 1,640
Welp, I can confirm, it is available, actually on all of our sites, it is a native functionality in paypal's checkout process now.
Makes sense and I may use it myself. Just stay on top of your expenses, don't go past that due date, WHY NOT use it?
Makes sense and I may use it myself. Just stay on top of your expenses, don't go past that due date, WHY NOT use it?
- Joined
- Jan 22, 2007
- Messages
- 1,641
I used BillMeLater several years ago to make a couple of large purchases. I specifically used it with the intention of paying off the balance before the 6 month grace period ended. So there was no interest. (I don't know if they still do that.) I was very pleased with it. It let me spread out the cost of a $900 bandsaw over 6 months without any additional cost. That's a no-brainer!
I would still use them again today, but I am sure they wouldn't let me. That's because I walked away from a $450 charge because they refused to properly investigate a claim I filed against a fraudulent camera seller. (The seller was fraudulent, not BillMeLater.)
When I told them that a significant portion of the charges were incorrect (and criminally fraudulent), they blew it off and refused to investigate. However, to their credit, when I notified them in writing that if they didn't investigate and correct the balance, I would not make any payments at all. To my surprise, they wrote off the whole thing, and I never saw another bill after that. (I was willing to pay what I rightfully owed, just not the fraudulent portion.)
I would still use them again today, but I am sure they wouldn't let me. That's because I walked away from a $450 charge because they refused to properly investigate a claim I filed against a fraudulent camera seller. (The seller was fraudulent, not BillMeLater.)
When I told them that a significant portion of the charges were incorrect (and criminally fraudulent), they blew it off and refused to investigate. However, to their credit, when I notified them in writing that if they didn't investigate and correct the balance, I would not make any payments at all. To my surprise, they wrote off the whole thing, and I never saw another bill after that. (I was willing to pay what I rightfully owed, just not the fraudulent portion.)
ShawnRussell
Member
- Joined
- Sep 2, 2011
- Messages
- 251
Sean,
Have you thought about partnering with a company to offer your own finance and 6m no interest?
I would sure love to have a green points based card. Nothing would thrill me more than to say to the Ms I have to buy more Festool. I just received 5x points on X tool. Now I have all these points I need to redeem thus I have to buy more tools before my points expire. Hey, I just got more points when I redeemed my last points, guess I gotta buy more before these new points expire.
Have you thought about partnering with a company to offer your own finance and 6m no interest?
I would sure love to have a green points based card. Nothing would thrill me more than to say to the Ms I have to buy more Festool. I just received 5x points on X tool. Now I have all these points I need to redeem thus I have to buy more tools before my points expire. Hey, I just got more points when I redeemed my last points, guess I gotta buy more before these new points expire.