Be aware of Bill Me Later Purchases

[Harry_Fish]

I purchased some items using Bill me Later a few months ago.
(A bit of a test to try out the service)

We’ll as part of the offer you don’t have to make any payments
for a few months; Well thankfully I made the Payments and then some.

Today I get a statement and since I did not pay off the total
100% from the original purchase they charged me interest ALL
the way back to the original purchase date.

Surprise Surprise.

Needless to say I will pay off the full balance
this month and not use them EVER again.


Just be aware.

[Phyxius]

I have used it before and always paid it off within 30 or 60 days before it was due but you must not have read all of the fine print before you used it....It has always stated the following in the terms of using it with the delayed payments
If payment in full is not made by the promotion expiration date listed above, finance charges will apply from the transaction date.

They like to hide it all in the little details there...

[faulkincanyon]

its just like a credit card with a high interest rate

[Ebmorri]

Thats a standard 0% credit thing. Look at any electronic, furniture, or any other store in your area that does 0% for x months and it’s the same thing. They be that people will not pay off the full amount and allot do not, sad but true. It should have been there in the fine print some where.

[dfs/la2]

Harry_Fish,

Thank you for your post. We sincerely apologize for any inconvenience this may have caused you. We would refer you to Bill Me Later at 1-866-528-3733 or through their website www.billmelater.com for questions regarding their payment policies.

Michelle L.
Live Aquaria (liveaquaria.com)
Drs. Foster and Smith (drsfostersmith.com)

[DocMark]

bill me later is a wate of time for sure.
more trouble to set up and cancel than its worth.
better off using a credit card.
mark

[RicksReefs]

that's the way all 'bill me later/no payments until xxx' type credit works that I know of.

[jman77]

"that's the way all 'bill me later/no payments until xxx' type credit works that I know of."

Ditto, it no surprise... that is how it normally works.

[1DeR9_3Hy]

If anyone is surprised by this, you need to add any "Free financing for x years" to the list of things to watch out for. Its common practice, and is fully expected.

I just finished a finance class, and the teacher was kind enough to explain the rational behind 0% deals: over 95% (exact number is around 96...but i dont remember it) of the people who take those offers never pay the full amount within the 0% period. The company's know this, which is why they are so willing to do 0% on so many different things.

[brandon2432]

they gotta make money somehow. duh

[BlueCorn]

I've used Bill-Me-Later for thousands of dollars of purchase and haven't paid a cent in interest. They are very upfront about their terms.

If you got caught by surprise I don't see how it's their fault.

[Jakesaw]

Today I get a statement and since I did not pay off the total
100% from the original purchase they charged me interest ALL
the way back to the original purchase date.

Surprise Surprise.

Needless to say I will pay off the full balance
this month and not use them EVER again.


Just be aware. [/B]

I've not used their Bill Me later option - but zero finance for a period of time - it's pretty common for them to go back and bill you a high interest rate if you don't pay back by a certain period of time. Be it Home depot - Lowes - or any other retailer.

But thanks for the heads up - not to use Bill Me later option when I see it.

[troyman]

thats your fault read before you buy then you cry over get over it read the agreement next time

[kdblove_99]

Ease up man. Think he was just stating for others to be aware. He didnt say for all you to feel sorry for him