I've read a few threads on the subject already but I want to confirm one last time. Bill Me Later does not report their tradeline, account history, etc to ANY of the credit reporting agencies besides their initial hard pull, correct? Spoke to one of their CSR's and she told me the same and even said they don't report the account even if it falls behind. Just want to hear about recent experiences.
IME, it is true that BML does not report to CBA, which could be a good thing depending on your fiscal fitness. I wouldn't say this a place for someone looking to rehabiliate his/her credit profile.
As to whether BML reports negative activity, I cannot confirm because I have not had such an experience (do not care to "stress test" this aspect either). Do you? Frankly, I cannot believe that any creditor would not report your negative payment activity to a national credit bureau if you fail to pay what you owe. In fact, I distinctly recall reading BML's contractual legalese about financial obligations of the borrower that it will pursue collection and report to bureaus such breaching.
I'm more interested in being able to use the credit for the 6 month no interest promos without the impact on average age of accounts, new account, utilization, etc. Not to mention the cashback. It's almost llike I'm being paid for using the credit. Thanks for the reply.
I've worked my available credit on BML up to nearly 15k over the past few years. Nowandays I use it when I honestly prefer to revolve certain major purchases over others I rather float cash (ie, PIF).
Just keep in mind though that BML is not a 'rebuilder' creditor for some seemingly obvious reasons. Its APR is ridiculously high -- approaching 30% in some cases, this even with those of strong credit (+760)
Glad to know you can increase it that much eventually. I also plan to use it to revolve some balances. Hopefully interest free. I'm just happy it doesn't report. Thank you for confirming that for me.