Frequent Contributor
TheConductor
Posts: 421
Registered: ‎07-24-2012
Re: Paypal Bill Me Later

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.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12) Current: EQ 675 (myFICO 9/26/13), EX 712 (CreditSesame FAKO 10/9/13) , TU 696 (WalMart 10/3/13) Goal: 700+ x3
My Wallet: Amex BCP $10k, Amex Zync NPSL (> 10k), Chase CSP VS $9.2k, C1 Venture VS $5k, Amex SPG $4.5k, Barclaycard Apple V $2k, Walmart (Store) $1.2k, Chase Freedom V $600, BoA Cash Rewards V $500, Best Buy Rewards MC $500
Dream Wallet:Barclaycard Arrival WMC (replace C1 Venture), Amex Platinum (replace Zync eventually), Andrews FCU Global V (chip + PIN for travel). Otherwise, pretty happy with my portfolio now.