Bill me Later(newegg) question.

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reminiser16

Limp Gawd
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I was wondering If any of you have used this? The total Of stuff I plan to buy is $890 I was wondering the 17.99% Is very high but i won't have the 890$ until 1 month and dont feel like waiting.. I was wondering if that 17.99% is added to total? So instead of 890$ the total price would be like 1050$? Am I correct?


***EDIT***
Also what are the monthly payment? Any extra charges except that 17.99%?


Mod Edit - This is General [H]ardware, not Finance 101.....BlindedByScience
 
when i used it in october they gave me 90days same as cash i paid the bill last week. only paid the amount owed, no interest charged me.
i charged 275 dollars at Newegg and paid off the bill for 275
 
17.99% is rediculous. That's around the rate of a high risk credit card. Most likely that is the finance charge if you don't pay your bill on time. Or if you drag your bill out and do payments.
 
yea, basically if you cant pay within the days you get charged the ridiculous interest rates. So if you want to do it layaway style just start with something small you know you can pay off quickly, and just buy your parts piece by piece, or whatever is within your price range.
 
board2death986 said:
yea, basically if you cant pay within the days you get charged the ridiculous interest rates. So if you want to do it layaway style just start with something small you know you can pay off quickly, and just buy your parts piece by piece, or whatever is within your price range.
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what u mean?
I plan have it paid off within 2 months at MAX
 
reminiser16 said:
what u mean?
I plan have it paid off within 2 months at MAX
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well, if you listen to flynr then you have plenty of time if you plan to pay it off in 2months. I'd suggest go ahead and do it.

when i used it in october they gave me 90days same as cash i paid the bill last week. only paid the amount owed, no interest charged me.
i charged 275 dollars at Newegg and paid off the bill for 275
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chambersc said:
well, if you listen to flynr then you have plenty of time if you plan to pay it off in 2months. I'd suggest go ahead and do it.
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But, I didnt get approved for the 90days.. only Bill me later. I tried that
 
No offense but this isn't a financial forum. Plus the fact that you already asked the question and we answered it. That being said read below very slowly please:

The way a credit card works is you get a set interest rate. That interest rate could be 20%. What happens is at the end of your billing period you recieve a bill for say $100 in stupid crap you bought. If you pay the minimum payment of let's say $15. Your credit card company charges a 20% interest rate on the remaining balance of $85 dollars and sends you a new bill due the next month.

Now here's the way Bill Me Later works. Your broke and decide that you need a computer. So you go on Newegg and search and build your R0x0rs my B0x0rs system. You choose Bill Me Later as your payment option. Now either you have no credit or bad credit or mediocre credit. Either way Bill Me Later says, "I Don't Care, you're broke butt is paying 17.99% interest on this". So You order you're 3leet build. After it's been at your parent's house in your bedroom next to your bunk bed, for 14 days or so, you get a bill in the mail from Bill Me Later. Saying Give us all of our money within 30 days or at least $15 of it. You give Bill Me Later $15 thinking you're slick and you'll just pay that every month. Well the next month you get a bill for the balance plus 17.99% interest. So if youre 3leet R0x0r's your b0x0r's system costs $1000 and you pay the minimum each month. after 7.1 years and $648 in interest you'll pay that system off. Oh yeah and that figure is on a 3% of balance minimum payment so that's actually be a minimum payment of $28.50.

Make sense?
 
ne1wantaride said:
No offense but this isn't a financial forum. Plus the fact that you already asked the question and we answered it. That being said read below very slowly please:

The way a credit card works is you get a set interest rate. That interest rate could be 20%. What happens is at the end of your billing period you recieve a bill for say $100 in stupid crap you bought. If you pay the minimum payment of let's say $15. Your credit card company charges a 20% interest rate on the remaining balance of $85 dollars and sends you a new bill due the next month.

Now here's the way Bill Me Later works. Your broke and decide that you need a computer. So you go on Newegg and search and build your R0x0rs my B0x0rs system. You choose Bill Me Later as your payment option. Now either you have no credit or bad credit or mediocre credit. Either way Bill Me Later says, "I Don't Care, you're broke butt is paying 17.99% interest on this". So You order you're 3leet build. After it's been at your parent's house in your bedroom next to your bunk bed, for 14 days or so, you get a bill in the mail from Bill Me Later. Saying Give us all of our money within 30 days or at least $15 of it. You give Bill Me Later $15 thinking you're slick and you'll just pay that every month. Well the next month you get a bill for the balance plus 17.99% interest. So if youre 3leet R0x0r's your b0x0r's system costs $1000 and you pay the minimum each month. after 7.1 years and $648 in interest you'll pay that system off. Oh yeah and that figure is on a 3% of balance minimum payment so that's actually be a minimum payment of $28.50.

Make sense?
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Thank you, didn't have to get mad. I tried searching google for some other forum..No results.
 
you should get the 90 days same as cash, which would give you three months to pay it in full without having the finance charges added on. Thats what I did on my last purchase, worked out well.
 
its best to plan these things out, making sure you WILL have the cash at hand, whether you have a steady job like some of us, or just waiting for that 15 dollar check from grannie. If you get caught after 90 days you are undoubtably f**ked.
 
board2death986 said:
its best to plan these things out, making sure you WILL have the cash at hand, whether you have a steady job like some of us, or just waiting for that 15 dollar check from grannie. If you get caught after 90 days you are undoubtably f**ked.
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I have a Steady job that doesn't Lay-off people never. Ive decided just charge it on my Discover card.
 
better to go with a credit card company you are familiar with, most likely get better interest rates anyway. Good luck to ya
 
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