What Kind of Credit Score Do You Need to Be Approved for Bill Me Later?

by Miranda Morley
Bill Me Later allows individuals to make purchases on credit without using a credit card.

Bill Me Later is a service that allows users to make purchases online using a line of credit. Although Bill Me Later works like a credit card, with minimum payments due until an item is paid for in full, it doesn't require users to have an actual card. Bill Me Later can be connected to other online financing applications, such as PayPal. Because Bill Me Later extends a line of credit, a relatively high credit score is required for approval.

Credit Score Requirements

You can check your credit score online before applying.

According to credit information site Credit Score Resource, the average credit score for people who are approved for Bill Me Later is 720, while the average credit score across the nation is in the high 600s. If you have poor credit or a limited credit history, you probably won't be approved for Bill Me Later.

Other Credit Requirements

Bill Me Later offers an unsecured line of credit. This means that the loan is not tied to a car, house or something else that can be repossessed. Because of this, you must have a nearly spotless credit history to be approved. Bill Me Later representatives review applicants' credit reports for negative actions, late payments, accounts in collection or other signs of poor money management.

Credit Line Increases

The minimum credit line for Bill Me Later is $250, but if your first purchase using it is more than $250, your credit line will automatically be set at that amount. Each time you use Bill Me Later for a purchase, the service considers this a request for more credit and may reevaluate your credit report. The service also requests updates from the credit bureaus periodically, even if you aren't using the service. If your credit score worsens, you may be denied credit line increases. or your account may be cancelled.

Reapplying -- at a Cost

If you've been denied for Bill Me Later in the past and your credit has changed, you can reapply. However, every time you request a new line of credit, your credit score is negatively affected.

About the Author

Miranda Morley is an educator, business consultant and owner of a copywriting/social-media management company. Her work has been featured in the "Boston Literary Magazine," "Subversify Magazine" and "American Builder's Quarterly." Morley has a B.A. in English, political science and international relations. She is completing her M.A. in rhetoric and composition from Purdue University Calumet.

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