BillMeLater is an easy and quick way to purchase many items online, securely.
I decided to try BillMeLater for a large purchase that I wanted to make online. I wanted some security of not having to pay for the purchase until I received it and used it for a few days and did not have a credit card with the available balance needed to make the purchase. I did, however, have the cash, so the finance charge was not a factor for me.
The purchase was to be made from Toshiba Direct, which is one of the many online retailers that does accept BillMeLater.
Using BillMeLater was SUPER EASY! All I had to do was place what I wanted into my shopping cart and then select the BillMeLater option at the end. BillMeLater approved me immediately, with minimal information (birth date and last four digits of my social) and my purchase was made.
I did have a couple of problems.
The first problem that arose was more on the part of how Toshiba processes its orders. I had purchased a warrantee for my item and Toshiba put the warrantee through as a separate purchase and immediately marked it as shipped, although there was actually nothing to ship.
This affected my BillMeLater account because my item was a special order and I was being billed for the warrantee before I received my actual item. I wanted the full 30 days before being billed to pay without a finance charge for my protection, however because of Toshiba’s odd business practice this did not happen. I ended up paying the warrantee part of my purchase in full to avoid any finance charges. I was not happy doing this as the payment must be made by check, money order or through my checking or savings account so if anything happened this was my cash that I was dealing with, rather than a credit card. BillMeLater is like a credit card and does not accept credit card payments.
The next problem came when the item I received was actually bad and had to be returned for a refund. I had already made a payment, Toshiba did not credit my BillMeLater account correctly and the people at BillMeLater were not understanding that the split billing that Toshiba did for my one purchase was one purchase and that what I had paid for was a warrantee.
I ended up having to dispute the entire bill, which was a total pain in the tush.
In the end, it took about 3 months to get my money back, but I did get it back in full from BillMeLater.
In the end it really wasn’t BillMeLater’s fault that I had to put in the dispute, however the fact that I could not make that first payment with a credit card turned me off because I ended up having a good deal of money tied up in a dispute.
The finance charge for BillMeLater purchases are also too high to spread out payments over the long term, in my opinion.
The convenience is top notch and the safety of what information is being put through online is very good as they ask for very little information.
In my opinion, if BillMeLater could be used as a gateway to purchase an item that could then be paid in full or paid through a 30 to 6 month finance free period, it is a good tool as long as you keep in mind that the purchase cannot then be put on a credit card - it is either BillMeLater or a credit card.
For those individuals who do not own a credit card or do not wish to use one online, BillMeLater is a good option. Just beware of the finance charges.