Bill Me Later

1.WHAT IS BILL ME LATER?

Bill Me Later is a PayPal service that lets you buy now and pay later. It’s a secure, instant, and reusable credit line that doesn’t require you to keep another credit card in your wallet. Bill Me Later is offered as a payment option at thousands of online stores. (Bill Me Later is subject to credit approval and offered by WebBank, Salt Lake City, Utah). Bill Me Later lets you pay for your purchases in 2 simple steps—just enter your birth date and the last 4 digits of your Social Security number and accept the terms. Approval takes only seconds. Set Bill Me Later as your preferred payment method and you’ll speed through PayPal checkout even faster. And it gets better: you’ll get access to special offers, like 6 months special financing. (Minimum purchase and payments may be required).

2.HOW DOES BILL ME LATER WORK WITH PAYPAL?

The next time you check out with PayPal, select Bill Me Later as your payment method. A window will appear on your screen asking for your birth date and the last 4 digits of your Social Security number. Once you accept the terms, approval takes just seconds; Bill Me Later will then be added to your PayPal account automatically.

3.IS THERE AN ANNUAL FEE TO USE BILL ME LATER?

There is no annual fee for using Bill Me Later.

4.WHAT IS MY ANNUAL PERCENTAGE RATE(APR)?

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 not incur interest charges.

5.IF I PAY LATE WILL I BE CHARGED A FEE?

If a minimum payment is not received by your payment due date (found on your statement) you will be charged a late fee in the amount of the missed payment—up to $25 the first time you are late. Subsequent late payments will be charged a late fee up to $35.

6.WHAT IS MY CREDIT LINE AND HOW CAN I INCREASE IT?

When you open your Bill Me Later account you’ll receive a credit line equal to the amount of your first Bill Me Later purchase or $250, whichever is greater (your credit line will never be less than $250). As you continue to make purchases, your credit line may increase. When you attempt to make a purchase for an amount above your credit line, it will be treated as a request for a credit line increase.

Your eligibility for a credit increase is determined by your credit history and customer history with Bill Me Later. This process happens seamlessly during checkout—you don't need to do a thing and it won't slow down your checkout.

7.WHAT DOES "SUBJECT TO CREDIT APPROVAL" MEAN?

Bill Me Later is a credit line provided by WebBank, an FDIC-insured and Utah-chartered industrial bank located in Salt Lake City, Utah. WebBank will review and consider your credit report and other credit-related information prior to opening your account and establishing your credit line. Creditworthiness is determined by WebBank and only takes a matter of seconds as part of the checkout process.

8.DO YOU REVIEW MY CREDIT REPORT EVERY TIME I MAKE A PURCHASE?

No—a credit report is reviewed when you apply for a Bill Me Later account and occasionally when you ask for an increase in your credit line. Periodically, updates of your report are obtained, but these updates have no impact on your credit score. Your account is reviewed quarterly.