Bill Me Later® FAQs
How do I sign up for a Bill Me Later account?
You can sign-up right at the merchant's site. Simply choose Bill Me Later as your payment method at checkout - it only takes a few seconds. Answer two quick questions and accept the terms. That's it, you're done! Then you'll receive a bill in the mail. There is no sign-up prior to making your purchase and there is no sign-up fee. View Demo
How do I use Bill Me Later again?
When making purchases at the other sites in our network: 1) You sign-up the first time you purchase at that site; 2) After that, just click Bill Me Later to make future purchases at that retailer. It’s that Easy!
Is there an Annual Fee?
No. There is no annual fee for using Bill Me Later.
What is the Annual Percentage Rate?
The Annual Percentage Rate is 19.99%. The Minimum Interest Charge is $2.00. Of course, you can choose to pay your entire balance by the payment due date and pay no finance charges.
If I pay late, will there be a fee?
Bill Me Later will charge a late lee for each month a minimum payment is not paid in full by the payment due date on your statement. The amount of the late fee will be the amount of the missed payment, up to $25 the first time you are late. If you’re late again, the late fee will be up to $35.
How does the "No Payments + No Interest if paid in full in 6 Months" promotion work?
Make no payments for 6 months. You will receive monthly statements and can make payments at any time. As long as you pay in full by the promotion expiration date, you will not be billed Interest. If you do not pay in full, Interest will be billed from the date of purchase.
Does Bill Me Later protect me from liability for unauthorized charges?
Yes, Bill Me Later provides “zero fraud liability” protection; the same protection provided by most major credit cards. This means you are not responsible for unauthorized charges.
And Bill Me Later has been designed with other features to help protect against unauthorized use of your account. Your identity is validated with top-of-mind information such as date of birth and the last four digits of your Social Security Number. This means there is no account number that can be lost or stolen.
Do I have a credit line and how much is it?
Yes. Once you open a Bill Me Later account you will have a credit line, which we call your “buying power”.
Once you have completed your first purchase using Bill Me Later, we at WebBank open a Bill Me Later account with buying power equal to the amount of your purchase or $500, which ever is greater. You can now use Bill Me Later to make additional purchases. If those purchases would cause your outstanding balance to go above your buying power, then we will evaluate if you are eligible for more buying power and increase your buying power if you are. This happens seamlessly during the checkout process – you don’t need to do anything and it won’t slow down your checkout.
On an ongoing basis, your buying power will be either the highest total of balances you have had outstanding on your account at any time or a lower amount of which you have received notice, but will not be less than $500. Here’s an example of how this works:
- If your first purchase using Bill Me Later is $350 dollars, your initial buying power will be $500.
- If before you pay your first bill you make another purchase for $300, we will adjust your buying power to $650. (if you are eligible for higher buying power)
- If you then pay off $350 of your first bill, you will have $350 of buying power remaining. If you want to make another purchase using Bill Me Later for more than $350, we will increase your buying power again (if you are eligible for higher buying power).
You can always continue to make additional purchases up to your outstanding buying power, and we will consider increasing your buying power when your purchase goes above it.
What does Subject to Credit Approval mean?
Bill Me Later is a credit account that you can use to make purchases. WebBank will review and consider your credit report and other credit related information prior to opening your account and establishing your buying power. Creditworthiness is determined by WebBank. This process happens in a matter of seconds as part of the Bill Me Later checkout process. Once you are a Bill Me Later customer, you can rely on your buying power to make purchases. If you make a purchases that would cause your outstanding balance to go above your buying power, we will review your credit history and history with Bill Me Later to instantly determine whether to increase your buying power.
Do you check my credit report every time I make a purchase?
No, we pull a credit report on your first purchase and occasionally when you ask us to increase your buying power. We do periodically get updates to this report but these updates have no impact on your credit score. We review your account quarterly. If for any reason we reduce your buying power, we will notify you in writing of the reason.
How do I increase my Buying Power with Bill Me Later?
You increase your buying power by attempting a purchase that is above your buying power, We will treat that as a request to increase your buying power. We will take into account your credit history and history with Bill Me Later to instantly increase your buying power if you are eligible. This happens seamlessly during the checkout process – you don’t need to do anything and it won’t slow down your checkout.
Where else can I use Bill Me Later?
Bill Me Later is available at thousands of online stores, catalogs, and travel partners. A complete list of the retailers that accept Bill Me Later is provided on the Bill Me Later website at www.billmelater.com.
How can I contact Bill Me Later to find out more about this payment method?
You may visit the Bill Me Later website at www.billmelater.com.