Explain Bill Me Later to Me

Bill Me Later website.

The “About Bill Me Later” section of the website was sketchy on the details. Do I basically just do my shopping, get sent a paper bill in the mail, send my check, and then get the merchandise? Or is there more to it?

They extend you credit based on your credit report from what I understand. It’s like a credit card without the card, you have a credit limit.

Just click on the FAQs link and it will give you some more info on how it works…

It’s the 21st century way of saying, “Put it on my tab.”

Is there some on-line means of selecting merchandise (or a service), getting a paper bill for it, paying said bill, and then receiving said service?

Do they explain how they charge interest? I couldn’t find anything about that.

“Up the ass” would be my guess.

To assign a precise figure to “up the ass,” APR is 50.33%. That’s not up the ass, it’s a full bowel implant.

I thought they assigned an APR based on your credit history. I personally do not use the service, so I don’t know, but the sample billing statement they linked in their FAQ has 19.99% as the APR.

On mine it’s 17.99%, though I almost always get it paid off in the 90 days free, so I pay no interest. It’s been a very nice service for several purchases for me.