New Egg "Bill Me Later" payment option

[Giantz]

I as looking into this, and I thought it was too good to be true. Is it really no payments + no interest if order paid in full by 6 months? It seems to me there has to be some hidden fee or something.

Advice is much appreciated.

 

[Machin3]

No theres really no hidden fees for it but i heard its crap. I was going to use it and its not like you can just use it and expect to get it. They have to approve it when you enter last 4 of SSN. I got denied cuz I got no credit report. BUT, people told me that it sucks cuz they "say" theres no hidden fees and you dont have to pay monthly fees but they trick you and make you pay monthly.

 

[powerpack]

Sign up for preferred card? Minimum $250 for 6 months $500 for 12 months.

Yea legit they hope to make profit by moving goods.

 

[tremmor]

my suggestion is if ya don't have it leave it alone.
On the other hand its a loan. 20% interest if ya fail.
http://promotions.newegg.com/Newegg/BML110708/index.html?Tpk=bill me later

click on terms:https://www.securecheckout.billmela...h?hash=PD4106KD&content=bmlweb/bmlwebtnc.html

 

[Giantz]

so it charges a 20% fee?

 

[Machin3]

Its only if you dont pay on time. THEN it charges you the 20%

 

[tremmor]

Your taking out a loan with a bank. 19.9%.
if its not payed off. For the record i pay everything with cash.
Everything.......owe nothing because i told mama pay it off, pay it off and did without.

 

[johnb35]

I have a billmelater account and a newegg peferred acount. You are required to pay a minimum payment every month even if the 6 months of minimum payments doesn't make up what you charged. If you can't pay a total of 250 in 6 months or 500 in 12 of equal payments then you really shouldn't use it. I have a $4000 limit on my preferred card.

 

[Giantz]

Well I get an allowance of $75 a month, and my total order is going to cost around $350, so making the money in 6 months should be no problem.

So yeah I heard you had to pay 3% of the total purchase or atleast $10 per month. Correct?

 

[johnb35]

without looking at my statement, I have a little over $1000 on my statement and my monthly payment is like 30 bucks or so