Bill Me Later

[BigCoolJesus]

I looked into the Bill Me Later service that Newegg offers and ive been reading up on it. The interest is more then bareable (0.05% a day, so for a $1000 purchase it would be .50 cents a day) and i plan on having the rest of the money in the next 3-4 weeks anyways, so ill have payed off my bill way before the October deadline (most likely i would have it all payed off by middle of July)

All i wanted to know was if anyone has any experience with this service and whether or not their straightforward, or if they have any hidden charges they may not disclose clearly?
Any feedback/opinions appreciated.

 

[BigCoolJesus]

anyone?

 

[TBone48]

I've used them twice, it's legit. I had no problems with them when I paid it off on time.

 

[jamerdean]

ditto

 

[Evadman]

The interest is more then bareable (0.05% a day, so for a $1000 purchase it would be .50 cents a day)

That's bearable? That's ~18%.

 

[BigCoolJesus]

Originally posted by: Evadman

The interest is more then bareable (0.05% a day, so for a $1000 purchase it would be .50 cents a day)

That's bearable? That's ~18%.

18% Annual.....but ill only be paying interest for at most 90 days, which would equate to at the very most $45 in interest (on $1000).
Thats bareable.



Thanks for the responses from those that have used them. Is it fairly easy/straightforward to pay them and get up-to-date billing statements?

 

[Braznor]

Originally posted by: BigCoolJesus

Originally posted by: Evadman

The interest is more then bareable (0.05% a day, so for a $1000 purchase it would be .50 cents a day)

That's bearable? That's ~18%.

Hows that 18%?
Its 0.05% a day of interest, and in my case that would play out to be $0.50 (50 cent) a day.
So even if i wait the 90 days to pay it off, its only $45 in interest all together. But ill have it payed off in under 40 days, so it will be around $15 in interest at most.
Thats bareable.



Thanks for the responses from those that have used them. Is it fairly easy/straightforward to pay them and get up-to-date billing statements?

0.5 dollars * 365 days a year = roughly 182.5 dollars a year = 18.25% per annum if the interest is 0.5 a day as you calculated. If it is actually 0.05% a day, that would really be 5 dollars unless it is 0.005%.

 

[mcvickj]

No problems here. I'ved used it 3 times for Newegg. I originally signed up for Bill Me Later for Tower Hobbies. All paid off on the due date so I've never encountered their interest rates.

 

[BigCoolJesus]

Guess ill give it a go

 

[Saint Nick]

Just don't cheat!

 

[Mayfriday0529]

I used it with Tigerdirect. Yeah the service is legit but i had some issues with them. I spent $300 and paid them right away $100, then another $50. They came back with a letter saying to pay in full because the account was unpaid or they would report it to the credit companies. So i paid in full right away.
Won't use them again.

 

[AbAbber2k]

Originally posted by: Braznor
0.5 dollars * 365 days a year = roughly 182.5 dollars a year = 18.25% per annum if the interest is 0.5 a day as you calculated. If it is actually 0.05% a day, that would really be 5 dollars unless it is 0.005%.

(1000 x .05%) = (1000 x .0005) = 0.50

(1000 x .005%) = (1000 x .00005) = 0.05

In order to get $5/d the rate would have to be 0.5%

 

[BigCoolJesus]

Originally posted by: Jnetty99
I used it with Tigerdirect. Yeah the service is legit but i had some issues with them. I spent $300 and paid them right away $100, then another $50. They came back with a letter saying to pay in full because the account was unpaid or they would report it to the credit companies. So i paid in full right away.
Won't use them again.

How many days did they allow you to pay off the $300 when you used them?
How many days into the purchase until they sent you the letter?


From everything ive read (all of the User Agreement).......as long as i make the minimum monthly payments and as long as i pay it off before 90 days, there wont be a problem.

 

[edfcmc]

y

 

[Braznor]

Originally posted by: AbAbber2k

Originally posted by: Braznor
0.5 dollars * 365 days a year = roughly 182.5 dollars a year = 18.25% per annum if the interest is 0.5 a day as you calculated. If it is actually 0.05% a day, that would really be 5 dollars unless it is 0.005%.

(1000 x .05%) = (1000 x .0005) = 0.50

(1000 x .005%) = (1000 x .00005) = 0.05

In order to get $5/d the rate would have to be 0.5%

 

[Braznor]

Originally posted by: AbAbber2k

Originally posted by: Braznor
0.5 dollars * 365 days a year = roughly 182.5 dollars a year = 18.25% per annum if the interest is 0.5 a day as you calculated. If it is actually 0.05% a day, that would really be 5 dollars unless it is 0.005%.

(1000 x .05%) = (1000 x .0005) = 0.50

(1000 x .005%) = (1000 x .00005) = 0.05

In order to get $5/d the rate would have to be 0.5%

 

[tfinch2]

Originally posted by: BigCoolJesus

Originally posted by: Evadman

The interest is more then bareable (0.05% a day, so for a $1000 purchase it would be .50 cents a day)

That's bearable? That's ~18%.

18% Annual.....but ill only be paying interest for at most 90 days, which would equate to at the very most $45 in interest (on $1000).
Thats bareable.



Thanks for the responses from those that have used them. Is it fairly easy/straightforward to pay them and get up-to-date billing statements?

You don't pay interest for the first 90 days you nub.

If you don't pay off the balance within 90 days you get charged all of the deferred interest.

 

[Alprazolam]

Why don't you wait till you have the money and then buy it?

That's why so many people are in debt..

 

[iRONic]

I used it for $800 in hardware. Payed it off on time using their electronic payment service online. No issues at all.

 

[Slew Foot]

Originally posted by: Jnetty99
I used it with Tigerdirect. Yeah the service is legit but i had some issues with them. I spent $300 and paid them right away $100, then another $50. They came back with a letter saying to pay in full because the account was unpaid or they would report it to the credit companies. So i paid in full right away.
Won't use them again.

That's beacuse TigerDirect sucks ass.

 

[BigCoolJesus]

Originally posted by: tfinch2

Originally posted by: BigCoolJesus

Originally posted by: Evadman

The interest is more then bareable (0.05% a day, so for a $1000 purchase it would be .50 cents a day)

That's bearable? That's ~18%.

18% Annual.....but ill only be paying interest for at most 90 days, which would equate to at the very most $45 in interest (on $1000).
Thats bareable.



Thanks for the responses from those that have used them. Is it fairly easy/straightforward to pay them and get up-to-date billing statements?

You don't pay interest for the first 90 days you nub.

If you don't pay off the balance within 90 days you get charged all of the deferred interest.

Really?
I guess i was interpreting it wrong. Thanks.

 

[Mayfriday0529]

Originally posted by: BigCoolJesus

Originally posted by: Jnetty99
I used it with Tigerdirect. Yeah the service is legit but i had some issues with them. I spent $300 and paid them right away $100, then another $50. They came back with a letter saying to pay in full because the account was unpaid or they would report it to the credit companies. So i paid in full right away.
Won't use them again.

How many days did they allow you to pay off the $300 when you used them?
How many days into the purchase until they sent you the letter?


From everything ive read (all of the User Agreement).......as long as i make the minimum monthly payments and as long as i pay it off before 90 days, there wont be a problem.

If i remember i got 90 days interest free. I decided to do the montly payments and they were like 10 mininum. Thats what the online access said. So I paid $50 my first time. Then I got a call from them about not paying in full and I call them back. I told them i picked the montly payments option. They said oh ok will make a note of that and adjust the system. Month two came up and I paid $100. Again got a call, same process and finally got a letter eventually from them. At the point I paid it in full. I didnt want to take a chance at getting a bad credit report.

 

[TitanDiddly]

Wait until you have the money to make the purchase. You can live without it.

 

[Shadow Conception]

Originally posted by: Slew Foot

Originally posted by: Jnetty99
I used it with Tigerdirect. Yeah the service is legit but i had some issues with them. I spent $300 and paid them right away $100, then another $50. They came back with a letter saying to pay in full because the account was unpaid or they would report it to the credit companies. So i paid in full right away.
Won't use them again.

That's beacuse TigerDirect sucks ass.

They're overpriced tbh.

 

[BigCoolJesus]

Well nevermind........Bill Me Later keeps turning me down whenever i try to checkout at Newegg.
Could it be because of my age? (just turned 18 on May 25th)