Has anyone had any experiences using the BillMeLater option in PayPal? I've got a larger purchase I'd like to make on eBay but would really like to be able to make payments on it (I don't have a credit card). All of the reviews that I've read about the service makes them out to be crooks and scam artists. Any tales to be told?
I have been using BML later for awhile. The trick to using BML is to pay the thing off BEFORE the interest cycles. BML funds each purchase based on your credit history; you really do not have an actual credit line. If you pay attention to your purchase, you will see that each purchase has a payoff date, somewhere between 3 and 6 months. If you do not get the bill paid off in that time, you can expect to start paying somewhere around 29% interest, which is not too different from a department store credit line like J.C. Penny.
