Bill Me Later, has given me the opportunity to maximize my buying power.
Aug 21, 2012
Having been a Bill Me Later Online Service customer for several years now, I have been very happy with this service.
One Christmas time, I was shopping online, for my daughter. After finding the item I wanted, I went to checkout as usual. After entering my shipping information, etc, the billing section came up. There is the usual choice of credit cards that are accepted, but this time I noticed Bill Me Later as one of the choices.
Curious, as I had never heard of it before, I clicked on the Bill Me Later option. I was taken to a site where I was asked to enter my registration information, and create a password. My email address would be my user-name.
The usual, was asked for, name, address, zip-code, telephone number, email address, and then they asked for my date of birth, my last four of my social security number, and to read their terms/conditions, and click the agree button.
After doing this, my browser waited a few minutes, and then gave me a confirmation number, and the ability to print out my invoice.
I was also told there, that an email had been sent to my email account, with all the information. They also said to make sure that Bill Me Later was listed in my email address book, or check my spam folder and then add the address.
I was very pleased to see something so simple, and yet complete. They were happy, and I was happy.
Bill Me Later Online Service, is much different than an actual credit card, in that they assess your approval on the amount you are purchasing, for instance, my first purchase was for $95.99. See below for the terms, conditions and benefits of Bill me Later Online Service.
Here are the terms for my first transaction:
My $95.99 purchase was given a 90 day deferred payment period. During that time, interest would be accruing. As long as I made my monthly payments during that 90 days, and the final payment brought my balance to a zero, no interest would be charged to me.
However, if I did not pay my balance in full, by the end of the 90 days, I would be billed the interest for the whole time of 19.9% interest.
Any time during that 90 day grace period, you are able to pay it off in full, if you prefer not to wait.
Also, when they approved my first $95.99 purchase, I was actually given a 'credit line' of $250.00. At that point I could have gone and purchased another gift for my daughter, however, I wanted to wait and see how this first transaction went, before doing any more. (That is just the way I am, you have the choice to do whatever you choose.)
**Here is the actual term/condition statement of my first purchase:
(The following was taken from Bill Me Later.com, frequently asked questions, or (FAQ):**
**Q. Do I have a credit line and how much is it?
**A. Yes. Once you open a Bill Me Later account you will have a credit line, which we call your "buying power".
Once you have completed your first purchase using Bill Me Later, we at WebBank open a Bill Me Later account with buying power equal to the amount of your purchase or $250, which ever is greater. You can now use Bill Me Later to make additional purchases.
If those purchases would cause your outstanding balance to go above your buying power, then we will reevaluate your buying power and may increase it, subject to credit approval. This happens seamlessly during the checkout process you don't need to do anything and it won't slow down your checkout.
On an ongoing basis, your buying power will be either the highest total of balances you have had outstanding on your account at any time or a lower amount of which you have received notice, but will not be less than $250.
Continued Answer: Here's an example of how this works:
If your first purchase using Bill Me Later is $150 dollars, your initial buying power will be $250.
If before you pay your first bill you make another purchase for $300, we will adjust your buying power to $450. (This increase is subject to credit approval - if it's declined, we will send you a notice explaining why.)
If you then pay off $350 of your first bill, you will have $350 of buying power remaining. If you want to make another purchase using Bill Me Later for more than $350, we will make a dynamic assessment to increase your buying power again (subject to credit approval).
You can always continue to make additional purchases up to your outstanding buying power, and we will consider increasing your buying power when your purchase goes above it.
**Q. Do you check my credit for every purchase?
**A. No, we only pull a credit report on your first purchase. We do periodically get updates to this report but these updates have no impact on your credit score.
**Q. How do you dynamically increase my line?
**A. We take into account your credit history and history with Bill Me Later to dynamically increase your line any time you request a purchase that is above your buying power.
**Q. How do you determine my buying power on an ongoing basis?
**A. We review your account quarterly. If for any reason we reduce your buying power, we will notify you in writing of the reason.
**The Above was taken from Bill Me Later.com Frequently Asked Questions.**
More Personal experience from Bill Me Later Online Services.
After my first purchase was paid for, I was very happy with how this was going to work.
During that billing period, I was able to choose, if I would like an actual bill sent to me, in the snail mail, or if I wanted to do everything online. I chose to do it all online. I am very happy with the security of the Bill Me Later site.
I would sign in to my Bill Me Later Online Service anytime I chose to do so. There would be a complete break down of my purchase, my payments, and what else was expected of me, etc.
I set up my payments to be taken out of my checking account, which I just had to give them the routing number from my bank, and my account number.
They would not take anything from my account, unless I, each time, went in and manually told them exactly how much to pay towards my account and so forth.
They would then give me a confirmation number, and up until 8 hours prior to payment, I could cancel that payment or add or subtract from it.
In other words you are in total control of what you pay, and when.
After you have your account with Bill Me Later Online Service established, you now have access to all the benefits of Bill Me Later.
Each time you are going to do any shopping, whether it be for a spacific item, or just looking around, just sign into your Bill Me Later account, and before you is an itemized, easy to read account of every transaction, and special discounts available to you, as a Bill Me Later member.
There are countless places you can shop, and you can see in an instance where you have done your shopping thus far.
You can also see at a glance, when, and, what you paid for your last payment, your available credit, when your next payment is due.
Any special offers your favorite stores have for you, as well as any cashback options.
Where can you use Bill Me Later Online Service:
There are countless places where you may use Bill Me Later. In fact, to even make it easier, When you go to Billmelater.com website, it has a list of all the places where you can use Bill Me Later. listed in alphabetical order.
Once you have found your favorite places to use Bill Me Later, you can add them to a favorite list on the Bill Me Later website.
Bill Me Later, will then keep you informed of any special sales, discounts, or other specials that are available from your favorite shopping places.
What is my favorite part of Bill Me Later's website:
Lets say at Christmas time, Birthday, or anytime, my daughter asked me for a telescope, for example, or any other product.
I can go to the search box, and type in telescope, and Bill Me Later will find all the places a telescope is for sale where they accept Bill Me Later.
All I have to do, is go through and find the best deal, for what I am looking for, and purchase the telescope, and put it on my Bill ME Later account.
Also, many credit cards offer cash back options. Well, Bill Me Later is no exception. On the Bill Me Later under my account, there is a listing of first all my favorite stores, and what they have for cash back, and then all the other stores on the web. You can even search for the highest cash back stores, and they will bring that up for you.
As you shop your cash back will accumulate on your Bill Me later Account. Every time I log into my Bill Me Later Account my cash back is shown right there, with the activity, of how and where you received it.
Your Cash back will be issued as a credit on your bill automatically within four days of the item shipping. However, in some cases, it may take up to two billing cycles for the cash back credit to be posted.
**Here is the actual Disclaimer from my Bill Me Later Account.**
**DISCLAIMER Cash Back shopping must begin at our Cash Back shopping portal. To earn Cash Back credit, purchases must be completed in the same shopping session following a click-out from this portal. To qualify, purchases must be completed with Bill Me Later (subject to credit approval) and within three hours of the click out. Cash Back is posted as a Bill Me Later statement credit. **
**Above is the actual Disclaimer from my Bill Me Later Account.**
More personal experience:
If you are familiar with paypal.com, you can also, have your Bill Me Later account affiliated with paypal.com. This gives me even more flexibility when checking out.
In other words, if an online shopping site, accepts 'paypal.com', but doesn't accept 'Bill Me Later', then I can still use my 'Bill Me Later' on that site.
As for 'paypal.com', I use that only in affiliation with my own bank account, so if I wanted to pay for something out of my checkbook, I would use 'paypal.com'. But if I didn't want it to come out of my checkbook, for any reason, I may use my 'Bill Me Later' option.
Bill Me Later, gives me one more option, when money is tight, to stretch my buying dollars, especially at Christmas, Birthday's and other unexpected gift giving times.
I don't practice charging to the max, just because it is there, I still budget, and even though I will use my Bill Me Later option, or my Discover Card, I still keep very aware of what I am purchasing, making sure it is worked into my budget so I can still enjoy interest free buying.
This option works Especially well, with Bill Me Later, as more often than not, they allow for a 90 days, or longer deferred billing.
The deferred billing option, gives me the time I need to get my budget filled back up, to easily pay, my Bill Me Later, in plenty of time, to avoid any finance charges at all.
By using my Bill Me Later option, it also allows me to enjoy discounts, and cash back options, off a price that would otherwise not have these savings attached to them.
Over the years, I have built up my credit line, with Bill Me Later, so if I were in a bind and need to purchase something unexpected, having to do with my computer, for instance, it makes me feel good to know that option is there for me.
In the years of using my Bill Me Later account, I am happy to say, I have had only one interaction with customer service.
That was a time, when I was sick, and had missed two payments.
They called me, and informed me that they were worried, I had overlooked my payment. They were very nice about it, and I explained, I had been sick, and didn't realize it at all.
They said, no problem, we will make sure you have no late payment, as you have been such a valued customer.
This made me feel really good, to see that they are even helpful when 'life happens', as it eventually will for most people.
**I also, have not had a time of needing to return a purchase, however, below I will copy their policy, here in case that is a concern of yours:
**Q. I need to return a purchase. How long will it take for the purchase to be credited to my Bill Me Later account?**
**A. Each merchant has a different policy regarding the length of time it takes to process a credit, but federal law requires that the credit must be processed by the merchant within 7 days. Bill Me Later then must credit your account no later than 3 days after receiving the credit notification from your merchant.
**Q. Where do I send my shipment if I want to return it?
**A. Refer to the return policy and instructions from the merchant where you purchased the items.
** The above information was taken from the FAQ on the Bill Me Later website.**
**Below is information on the policy for disputed charges, which I also have NOT had an occasion to use this option. But I am including it in case you were wondering about the policy. (Also taken from the FAQ on the Bill Me Later website.)**
**Q. What is your dispute procedure? There is a charge on my account that I don't agree with.**
**A. View and Print Dispute Form
Notify Us In Case of Errors or Questions About Your Bill:
If you think your bill is wrong, or if you need more information about a transaction on your bill, write us on a separate sheet at:
Bill Me Later
P.O. Box 5018
Timonium, MD 21094
We must hear from you no later than 60 days after we send you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, give us the following information:.
Your name and account number.The dollar amount of the suspected error.Description of the error and an explanation.
Rights and Our Responsibilities After We Receive Your Written Notice:
We must acknowledge your letter within 30 days, unless we have corrected the error by then. Within 90 days we must either correct the error or explain why we believe the bill was correct.
After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount you question, including Interest Charges.
You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question. If we find that we made a mistake on your bill, you will not have to pay any Interest Charges related to the questioned amount.
If we did not make a mistake, you may have to pay Interest Charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.
If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten (10) days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill, and we must tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter has been settled between us when it finally is.
If we do not follow these rules, we cannot collect the first $50.00 of the questioned amount, even if your bill is correct.
**The Above information was taken from the FAQ on the Bill Me Later website.**
More Personal experience:
The FAQ on the Bill Me Later website, really goes on and on to explain every possible scenario, we, as consumers would eventually, or possibly run into.
It would take hours of reading for you, here, but if I have omitted a particular question you may have. Please feel free to leave me a comment, and I will be more than happy to, look up the answer for you.
As I think I said earlier, there are countless places that you are able to use your Bill Me Later account.
Over the years, I have enjoyed using Bill Me Later Online Service, to shop at many places. Here below, is just a small sampling of where I have enjoyed using my Bill Me Later account:
'FragranceX.com' for fragrances for myself, and for gifts.
'TigerDirect.com' for electronic's for my kids for Christmas.
'barenecessities.com' for underwear, for the family at Christmas.
'beauty.com' for cosmetics, and accessories for the kids at Christmas.
'Petsmart.com' items for my dog, and my cat.
'GNC.com' toys and other items for kids at Christmas.
'Geeks.com' I have picked up several computers, and other electronics for myself and the kids.
'Acehardware.com' for household items.
'drugstore.com' for personal care items.
'Thinkgeek.com' for fun 'geekie' items, like fun items from 'Dr. Who' for my kids at Christmas.
This above List, is just to name a few of the places I have enjoyed using Bill Me Later for purchases over the years.
As I have said before, if there are any questions for you, which I have not covered, please don't hesitate to leave me a comment. I will do my best to find the answers for you.
I hope I have showed you a good example of Bill Me Later Online Services.
Thank you for reading, rating and commenting if you so desire.
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