billmelater

[Anonymous]

I've been wanting to try billmelater, but i little curious how it would impact my credit score. I currently have 711 EQ and im wondering, if I try billmelater would it decrease my credit score? if so how many points do you think it could go down?

thanks

Message Edited by gr2gztch on 04-21-2009 09:52 AM

Message Edited by gr2gztch on 04-21-2009 09:59 AM

[smallfry]

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@Anonymous wrote:

I've been wanting to try billmelater, but i little curious how it would impact my credit score. I currently have 711 EQ and im wondering, if I try billmelater would it decrease my credit score? if so how many points do you think it could go down?

thanks

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They do a hard pull to open the account. Can anyone know for sure if they won't pull hard for each purchase? I would avoid.

[Anonymous]

I won't be doing this mcuh at this time its a one time purchase. I am trying to get a car, so I am concerned if this will decrease my credit score a lot.

[Anonymous]

so I applied and got approved with this, but today I received a score watch alert. my credit score dropped 16 points, because of the hard pull for the account. How long will this affect my credit score?

[Anonymous]

The inquiry will count against scoring for 1 year.

[Anonymous]

I haven't used my Billmelater account in a few years due to the fact they pulled a hard inq every time I used it.  Their resoning is I only used it once every 2-4 month so they wanted to make sure my credit was still ok.

Message Edited by JR2475 on 04-22-2009 12:10 PM

[Anonymous]

I just recently went through billmelater to get a Apple computer a year ago and Im trying to get rid of this account only because their APR rates are WAY higher then my credit card but as much as I want to get rid of this account...I need it to age as well so it looks good on my credit file! Imo, I would not use them again only in my case because if the higher APR percentage...

[Anonymous]

Wow...16 points for one inquiry is a lot!

[Anonymous]

im kinda thinking that may something else was reported, but the score alert didnt inform me. 16 points seems a little bit extreme for a hard pull. Justin33 from what I've read they do not report anything to the cra, so keeping the card wouldnt make a difference.