PayPal ~ Put it on my tab!

[EricInCT]

Hello eric,

Just in time for holiday shopping…

Great news! PayPal has enabled Bill Me Later as a payment option for your eBay listings to select PayPal buyers. When select PayPal buyers check out on eBay, they’ll see a “Buy now, pay later” payment option. If they choose this option they will be able to take advantage of introductory offers such as $25 off and 90 days to pay. These offers will be funded by Bill Me Later and credited directly to the buyer’s Bill Me Later account. You will not see any change to how you are paid for your eBay sale.

Bill Me Later purchases will be handled just like other PayPal purchases—money will be transferred to your PayPal account with the same timing as any other transaction. The eligible purchases are also covered under PayPal Seller Protection.

You don't need to do a thing, although you may wish to familiarize yourself with Bill Me Later.

We’re excited about making this new choice available for buyers and also about the benefits it can bring to you and other eBay sellers. We know there may be some questions so we’ve prepared some information for you. If you receive questions about Bill Me Later, just direct your buyers here.

Thanks for being a part of the eBay community!

PayPal

 

[Russ S.]

Bout time you get some GOOD ebay/paypal news. :lol:

 

[EricInCT]

I see the deadbeat buyer number growing expotentially :?


Anyone know how it works?

 

[ChasHawk]

The APR is 19.99%

This is going to screw a lot of people.

 

[EricInCT]

The APR is 19.99%

This is going to screw a lot of people.

Where do you see that? It isn't a credit card.

 

[ChasHawk]

The APR is 19.99%

This is going to screw a lot of people.

Where do you see that? It isn't a credit card.

Nope, not a credit card. It's a 3rd party money making scheme.
I liken it to Check into Cash and other places of this ilk.

https://www.billmelater.com/help/index.xhtml

What is the APR?
The Annual Percentage Rate is 19.99%. For more information, click here to review the Bill Me Later Account Terms and Conditions.

 

[scotty21690]

The APR is 19.99%

This is going to screw a lot of people.

How fine of a print is that, Charlie?

 

[ChasHawk]

The APR is 19.99%

This is going to screw a lot of people.

How fine of a print is that, Charlie?

It's all spelled out very clearly on the Billmelater website.
eBay however, mentions nothing of these minute details.

 

[braden]

Ah, yes, I'm sure this will end well. The US hasn't had any problems recently with people buying things they can't afford, have they?

 

[EricInCT]

How do I start using Bill Me Later?
Just select Bill Me Later as your payment choice when you check out. You'll give your date of birth and the last 4 digits of your social security number, accept the terms, and you're done. Approval takes only seconds. Once you've started using Bill Me Later, you'll see it as a payment option when you check out with PayPal.

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What if I want to use Bill Me Later every time I check out with PayPal?
During checkout go to the "More Funding Options" page and make Bill Me Later your preferred payment source for future PayPal transactions. Or at any time, log into your PayPal account, click on "Profile", select Bill Me Later then click on update preferences.

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Are Bill Me Later and PayPal the same company?
PayPal acquired Bill Me Later in November 2008. Both Bill Me Later and PayPal are committed to providing customers with the fastest, most convenient online buying experience.

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I saw a Bill Me Later promotion at an online store. Why didn't I see it when I checked out with PayPal?
Many online stores offer exclusive Bill Me Later promotions such as free shipping, dollars off, and 90 days to pay. To take advantage of those deals, you need to select Bill Me Later directly from the online store. If you choose the Bill Me Later option when checking out with PayPal, you may see a different promotion that is exclusive to PayPal customers.

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Is there an annual fee to use Bill Me Later?
No. There is no annual fee for using Bill Me Later.

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What is the Annual Percentage Rate?
The Annual Percentage Rate is 19.99%. The Minimum Finance Charge is $2.00.

Of course, you can choose to pay your entire balance by the payment due date and pay no finance charges.

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Does Bill Me Later protect me from liability for unauthorized charges?
Yes. Bill Me Later provides "zero fraud liability" protection-the same protection provided by most major credit cards. This means you are not responsible for unauthorized charges. And we validate your identity with details such as your date of birth and the last four digits of your Social Security Number. This means there is no account number that can be lost or stolen.

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What does "Subject to Credit Approval" mean?
Bill Me Later is a credit account that you can use to make purchases. CIT Bank will review and consider your credit report and other credit related information prior to approval. Credit worthiness is determined by CIT Bank.

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Do you review my credit report every time I make a purchase?
CIT Bank does not review your credit report for each transaction. However, your credit report may be reviewed for some transactions and periodically to provide you with the maximum possible buying power.

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Do I have a credit line and how much is it?
CIT Bank does not issue a credit line. To enhance your convenience, security and buying power, CIT Bank approves and extends credit for each transaction.

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Where else can I use Bill Me Later?
Bill Me Later is available at thousands of online stores that accept PayPal. It is also available on eBay and exclusively on thousands of other online stores that accept Bill Me Later.

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How do I use Bill Me Later for my purchase today?
Just select Bill Me Later as your payment choice when you check out. If it's your first time using Bill Me Later through PayPal, you'll give your date of birth and the last 4 digits of your social security number, and accept the terms. Approval takes only seconds. If you've used Bill Me Later through PayPal before, it will appear as one of the PayPal payment options when you check out.



Yes, they will do a credit check.....however you could technically have a few weeks to pay for the item without incuring any finance charges and not need to have another credit card.

 

[Jays_Cards]

This is still great news for buyers that can AFFORD what they are buying. The stipulations clearly state that as long as the balance is paid in full by the payment due date, no finance charges are incurred.

 

[HPC]

This is still great news for buyers that can AFFORD what they are buying. The stipulations clearly state that as long as the balance is paid in full by the payment due date, no finance charges are incurred.

Exactly.

If you cant afford it dont buy it.

 

[Captain Feathersword]

I've used "Bill Me Later" a few times on other website, but that is just for "No Interest for XX Months" offers. Other than that, I don't need to pay 19.99% interest on anything.

 

[gvsu96]

I've used it a few times. I got $10 or something like that off one purchase for using it. No problems or issues. I've paid everything off way before the 90 days is up.

 

[19braves77]

I use it when flying with Airtran. Airtran allows you to make changes to your flights without a penalty when you use it which is good if you want to change your ST dates. They also take $20.00 off your purchase if you pay the balance off before the 90 days.

 

[wolfmanalfredo]

Seems like a cool concept, I can however see many of the less responsible type getting the butt of the gun with this. I don't like to take chances in case something happens in the future where I would be unable to pay it off so I plan to opt out of it.

It is nice though if I have the money and use this program to try and get some cash off the purchase....I may have to look into it now(to see if if I can sniff out a loophole )

 

[goldenegg1]

If you can't pay off a ball card in 90 days, you should have to pay the 20% interest, or don't but it at all.

 

[ChasHawk]

Its very easy to just throw a blanket statement out there, but look at the millions
of people already in credit card debt.

 

[phillyfan0417]

Its very easy to just throw a blanket statement out there, but look at the millions
of people already in credit card debt.

So then there shouldnt be an option for those who are responsible and will pay? I think anything that offers folks credit will have those who will be in over their heads but to not offer it for that reason is punitive to those who will use the service and live up to their part of the bargain.

 

[ChasHawk]

Its very easy to just throw a blanket statement out there, but look at the millions
of people already in credit card debt.

So then there shouldnt be an option for those who are responsible and will pay? I think anything that offers folks credit will have those who will be in over their heads but to not offer it for that reason is punitive to those who will use the service and live up to their part of the bargain.

Not saying it shouldn't be offered. Just critical of the fact that eBay is basically promoting it as "free" money in a way.