Reply
Valued Member
wwtthhpp
Posts: 57
Registered: ‎02-12-2009
0

Bill Me Later

I have had a Bill Me Later account for about 3 years now.  About 4 months ago, my employer enrolled employees in ProtectMyID credit alert and surveillance.  I purchased something with my Bill Me Later account last week and received an alert from my ProtectMyID account.  It stated that Bill Me Later initiated a HP for my recent purchase.

 

Is this common with the Bill Me Later account?  I never noticed before although I have only used the account about 5 times previously.  Is there any way to get the HP removed?

Valued Member
wwtthhpp
Posts: 57
Registered: ‎02-12-2009
0

Re: Bill Me Later

Anybody? I did a search on Bill Me Later but only found info on apps. Has anybody had similar issues or is there a thread you can reference?
Member
PersonalBanker89
Posts: 19
Registered: ‎05-11-2013
0

Re: Bill Me Later

[ Edited ]

BillMeLater does run a hard pull, and is essentially a line of credit through Chase Bank. It's the same as a store line of credit. There is no way to get this removed from your credit score as you agreed to the terms, but it shoudn't effect your score much.


Starting Score: Eq 745 TU 740 (05/11/2013)
Current Score: Eq 745 TU 740
Goal Score: 800


Take the myFICO Fitness Challenge
Established Contributor
bk510
Posts: 723
Registered: ‎03-27-2013
0

Re: Bill Me Later

@perrsonal

 

i thought MBL is backed by Web Bank.....is it not?


BK 7 Discharged 6/12 (Burned Amex, Chase and Citi)
Order of approvals...
Valued Contributor
lg8302ch
Posts: 2,787
Registered: ‎11-13-2012
0

Re: Bill Me Later


PersonalBanker89 wrote:

BillMeLater does run a hard pull, and is essentially a line of credit through Chase Bank. It's the same as a store line of credit. There is no way to get this removed from your credit score as you agreed to the terms, but it shoudn't effect your score much.


Each purchase a HP?

FICO® EQ 788 (as of today) - TU 767 (09/28) * Fako EX 789 (09/02 - CS) * last app 06/01/14 * INQ last 2 yrs TU: 5, EX: 7, EQ: 7


Move the mouse over the cards for detailed view!..................................................................* Silver Spade Garden Club member *

Contributor
Mopar_Jones
Posts: 205
Registered: ‎06-10-2013
0

Re: Bill Me Later

No, each purchase should not be a hard pull.. Unless you haven't used it in a while, or if you are making a purchase over your current 'limit'.. Which will initiate an all in one limit increase, approval, purchase conundrum.

Valued Contributor
navigatethis12
Posts: 1,939
Registered: ‎01-24-2012
0

Re: Bill Me Later

This same thing happened to me recently and I am trying to find out how to get it fixed.

 


PersonalBanker89 wrote:

BillMeLater does run a hard pull, and is essentially a line of credit through Chase Bank. It's the same as a store line of credit. There is no way to get this removed from your credit score as you agreed to the terms, but it shoudn't effect your score much.


WebBank is not related to Chase and the hard pull shouldn't have been done.


Mopar_Jones wrote:

No, each purchase should not be a hard pull.. Unless you haven't used it in a while, or if you are making a purchase over your current 'limit'.. Which will initiate an all in one limit increase, approval, purchase conundrum.


They no longer do hard pulls when you attempt to go over your credit limit and if you haven't used it in a while it will just be closed. The purchase I was trying to make was a lot less than the limit.

Contributor
Mopar_Jones
Posts: 205
Registered: ‎06-10-2013
0

Re: Bill Me Later

That's certainly odd then.. did you call and ask?

Senior Contributor
john398
Posts: 3,521
Registered: ‎01-19-2009
0

Re: Bill Me Later

I had a hardpull and already had a billmelater account, I had to call in and than fax a copy of my report,a month later they finally removed the inquiry

Valued Member
wwtthhpp
Posts: 57
Registered: ‎02-12-2009
0

Re: Bill Me Later

Just got off the phone with a CSR regarding my HP issue.  He told me that when making a purchase using this service everything has to match up with how it is listed on your Bill Me Later account.  The name, physical address, telephone number, email address, last four of your SSN and the birthdate need to be exactly what is used on the account otherwise the system is going to initiate a HP.

 

I was also told that they would not remove the HP unless it was actually fraudulent in nature so I am stuck with that on my report I guess.

 

I like Bill Me Later and the fact that you can get no payments and no interest for 6 months at many stores but this type of policy is going to make me think long and hard before using this LOC again.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}