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.

 

[areze]

from https://www.securecheckout.billmela...=2B5314U8&content=/bmlweb/np90drollingiw.html which I found at the checkout screen "details"

"If payment in full is not made by the promotion expiration date listed above, finance charges will apply from the transaction date. "

seems pretty straight foward, and its not even marine depots service, just one that they offer from a 3rd party, the info was there though...

 

[crab0000]

I've used Bill Me Later quite a bit and have been very happy. They have the same terms as any other no interest or payment deals out there.

 

[chem-e]

This type of financing is pretty common. I've used it to buy TVs, furniture, appliances, etc. I really like it, but I make timely payments to make sure I have everything paid in full before the promotion ends.

 

[Phyxius]

Didnt you post this in the other vendors forum too? Sounds like you have been using Bill me later a lot lately LOL.....

 

[rcgates]

eBay, Paypal, and now...

http://www.bizjournals.com/baltimore/stories/2008/10/06/daily3.html?jst=b_ln_hl

 

[mhurley]

Re: Be aware of Bill Me Later Purchases

<a href=showthread.php?s=&postid=13464516#post13464516 target=_blank>Originally posted</a> by Harry_Fish
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.

This isn't surprising to me, sounds like you may not have read the fine print of the deal when you signed up. Pretty much any of the "free financing" deals out there work exactly like this. I got burnt with Best Buy on a tv once like this.

Let's be honest...they're a business...they're paying your bill upfront and you're paying them in installments. They have to make money somehow or what is the point of being in business?

 

[Ebmorri]

Yep SOP for any of the 0% financing you see, sad but true. I just brought a Nikon D-60 with a 0% for 18months and I know that I need to pay it off before then. Companies do this knowing/thinking that people will not pay of the full amount owed by the time it comes due.