topic Re: Paypal Bill Me Later in Credit Cards

Paypal Bill Me Later

obageegee — Tue, 09 Oct 2012 19:46:13 GMT

Just got an offer, anyone have this?

Re: Paypal Bill Me Later

jsucool76 — Tue, 09 Oct 2012 19:50:11 GMT

obageegee wrote:
Just got an offer, anyone have this?

If you're in the building stage of your credit life, I wouldn't go for it since it doesn't report, and would probably go for PP extras mastercard or smart connect. If you want a little hidden tradeline it is pretty decent from what I've heard.

Re: Paypal Bill Me Later

Jlu — Tue, 09 Oct 2012 19:51:14 GMT

Yes I do. Beware that regardless of what anyone (including CSR's) tells you, it IS a hard pull. They give you 6 months no payments I think - BUT - make sure you write it down on your calendar or set an alarm or something because if you forget about it (which is what they hope you do) they charge interest retroactively to the opening of the account. Other than that enjoy buying now and paying later.

Re: Paypal Bill Me Later

obageegee — Tue, 09 Oct 2012 19:54:54 GMT

I don't need any more HP's just wondering...

Re: Paypal Bill Me Later

EmpressLuv — Tue, 09 Oct 2012 20:01:09 GMT

Got one by email today but I am trying to be good and not have any inquiries on my report so i just ignored it.

Re: Paypal Bill Me Later

Shogun — Tue, 09 Oct 2012 20:14:38 GMT

I got one too. Staying in the garden though!

Re: Paypal Bill Me Later

maiden_girl — Tue, 09 Oct 2012 20:17:48 GMT

I have Bill Me Later too, no it doesn't report to the agencies so yea if you're trying to build a history, Bill Me Later is useless in that department. I haven't noticed a HP on my CRs yet. I've had it for about a month.

Re: Paypal Bill Me Later

Wolf3 — Tue, 09 Oct 2012 20:50:06 GMT

It is an unusual account.

No reporting to CB, unless you default. So you can use deferred interest without effecting your utilization.

Lot of deffered interest deals for 6 months or more. Deffered interest means you are charged interest from the date of purchase, if you don't pay it off in time.

You can try to charge over your CL anytime you want (no HP) and they will accept or decline right then. So CL grow incrementally and dynamically.

DW is very happy with it.

Re: Paypal Bill Me Later

bostonte — Tue, 09 Oct 2012 21:12:02 GMT

There were grumblings some months back that they were going to begin reporting, but no idea if there is any truth to that or not. Just be prepared for the possibility, I guess.

Re: Paypal Bill Me Later

AvaMommy — Tue, 09 Oct 2012 21:14:31 GMT

Seems like many has received this offer! I got an email today stating I was pre-approved. Guess the holidays are approaching quicker than expected!

Dont know yet if I am gping to app for it though....

Re: Paypal Bill Me Later

AvaMommy — Tue, 09 Oct 2012 21:15:09 GMT

BTW are they GE?

Re: Paypal Bill Me Later

maiden_girl — Tue, 09 Oct 2012 21:18:22 GMT

AvaMommy wrote:
BTW are they GE?

Yes. The PayPal Mastercard is backed by GECRB

Re: Paypal Bill Me Later

TheConductor — Tue, 09 Oct 2012 21:19:43 GMT

I got this offer as well. I can possibly see it being a good thing when I get around to trekking over to the suburb that has a bank with one of those ultra-high-yield interest checking accounts. Then I'd be effectively getting ~3% APR on the purchase price for 6 months by deferring payment.

Assuming one can still bill the ultimate final payment to a rewards credit card, that represents a nice bonus added to the rewards you'd get for paying right away.

The catch here is needing to have the discipline to pay them on time when the time comes, and to let the money gather that interest in your checking account meanwhile.

Not an ideal scheme for the absent-minded or the shop-a-holic.

Re: Paypal Bill Me Later

obageegee — Tue, 09 Oct 2012 21:21:26 GMT

It's not GE, it's Web Bank http://www.webbank.com/

Re: Paypal Bill Me Later

snowkitty — Tue, 09 Oct 2012 21:34:40 GMT

It's web bank and is definitely a hp. I've had mine for two months now and love it. I feel more secure when ordering online and I've noticed that when I order via them, it gets shipped super quick. I also like it being a hidden trade and if I decide to run a balance for a few months I don't have to worry about utilization.

Re: Paypal Bill Me Later

AvaMommy — Wed, 10 Oct 2012 15:33:26 GMT

obageegee wrote:
It's not GE, it's Web Bank http://www.webbank.com/

Re: Paypal Bill Me Later

AvaMommy — Wed, 10 Oct 2012 15:34:09 GMT

snowkitty wrote:
It's web bank and is definitely a hp. I've had mine for two months now and love it. I feel more secure when ordering online and I've noticed that when I order via them, it gets shipped super quick. I also like it being a hidden trade and if I decide to run a balance for a few months I don't have to worry about utilization.

Awesome thanks for the info

Re: Paypal Bill Me Later

creditdreamera — Wed, 10 Oct 2012 15:49:08 GMT

I have a BML account and I love it! They started me with an odd $1627 credit line, so I just say it's $1600. The fact that it doesn't show up on our CR makes sense because they don't give CLI and if you ask for one, all they say is that you have to "try" to purchase something that is more expensive that what your credit line is.

Re: Paypal Bill Me Later

AvaMommy — Wed, 10 Oct 2012 15:50:49 GMT

creditdreamera wrote:
I have a BML account and I love it! They started me with an odd $1627 credit line, so I just say it's $1600. The fact that it doesn't show up on our CR makes sense because they don't give CLI and if you ask for one, all they say is that you have to "try" to purchase something that is more expensive that what your credit line is.

Did you just get your BML? Where your scores below? Also, did you have any baddies?

Thank you

Re: Paypal Bill Me Later

creditdreamera — Thu, 11 Oct 2012 02:44:01 GMT

I've had my BML a bit more than a year. At the time my scores were in the low 600s; they haven't had a big increase this year since I have a lot of INQs that will start to die off in May 2013. The only baddie I have on my CR is a medical collection $116 that my mom said she'd take care of and never did, and it was the first time i was being "an adult", so the bill was in My name. Paid it off in 2007, so I'm waiting for it die off in about 1 1/2 years.