Any of you used the "Bill me later" function of Newegg?

[McRhea]

Should I say away from it? Or is it a decent way to get what you want right now and pay for it later (when you get your paycheck)?

 

[mauiblue]

Interest rates are very high so if you don't pay right away it is not a great deal.

 

[jmdeathsquad]

if you can pay it off within 3 months or so, go for it... I used it once and avoided interest

 

[fredhe12]

Good if you pay within the three months, if not, then all the interest charges accrue from the date of purchase. If you know you're going to have the money, then do it, but make sure you don't spend the $ on something else

 

[obeseotron]

Interest rates are worse than a good credit card, if you can pay in 90 days, do it, if not stay away.

 

[Boztech]

APR is 22% for me after promotional period, FYI

 

[jimmyj68]

I've used Bill Me Later for a couple of years now - especially for travel (hotels.com). The secret as everyone says is pay it off before the interest begins. You end up with "0" interest which is better than putting stuff on a credit card.

 

[trexmgd]

As has been previously stated, it's ONLY a deal IF you payoff the debt before the promo period ends (I think they are running no pay, no int. for 6 mos. on $500 purchase). What you to remember is that the interest accrues from the purchase date and gets added on IN FULL (regardless of how much you've paid down the debt) at the end of the offer period if the balance isn't paid in full.

Some other things I like about the NewEgg card are some of the other promos they run (like free "rush" processing) and the fact that it seems they are much more willing to applied credits to the card balance.