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I'm trying to buy a Ts2 camera and I'll definitely be able to pay this off by the end of the first week of April soon. I make 300 a week. I've never applied for credit. Will this only help me if I'm paying it off in full in a short time? I won't have to worry about using this credit line anymore after I do this or do they charge you for not using their credit line? CONTRACT FOR CAMERA (I only have a wells fargo debit) Bill Me Later® is an open-end credit plan offered by CIT Bank, Salt Lake City, Utah (“the Lender”). By using Bill Me Later® to complete this purchase, you apply for credit and you agree that you have read the Terms and Conditions; you authorize the Lender to review your credit report and you understand that this account is subject to interest and Late Fees and is governed by Federal law and the law of the state of Utah. You authorize the Merchant to share your personal information, including email address, with the Lender, and authorize the Lender to use that information for all lawful purposes in connection with the account. The Terms and Conditions of Bill Me Later® include the following: * E-Sign Consent * Important Disclosures * Account Agreement * Privacy Notice Bill Me Later® E-Sign Consent Consumer Consent to receive disclosures and other information electronically. IMPORTANT NOTICE. In order to complete this transaction online, the Lender must provide the consumer with certain disclosures required by law. The Lender can provide these disclosures to the consumer online only if the consumer consents. The consumer should choose another payment option if the consumer does not consent. 1. DEFINITIONS. In this Bill Me Later E-Sign Consent, the following definitions apply: "I", "me" and "Borrower" mean the person who is asking to use Bill Me Later to make a purchase. "You" and "Lender" mean the Lender and any person, company or bank to whom the rights of the Lender have been assigned. "Bill Me Later Payment System" is your payment system, which allows me to pay for purchases from participating Merchants by charging the costs to my Bill Me Later Account. It may be called simply "Bill Me Later". 2. CONSUMER CONSENT. By checking the "I agree to have the Terms and Conditions presented electronically", which I hereby adopt as my electronic signature, I consent and agree that: * You can provide disclosures required by law and other information about my legal rights and duties to me electronically. * My electronic signature on agreements and documents has the same effect as if I signed them in ink. * You can send all important communications, billing statements and disclosures (collectively defined as “Disclosures”) to me electronically to the email address that I have provided to the Merchant in this transaction or to another email address that I provide to you for that purpose rather than in paper form. * You will alert me when the Disclosure is available, by sending me an electronic communication. * Your email will tell me how I can view the Disclosure. * You will make the Disclosure available to me for not less than 90 days from the later of: the date it first became available to me or the date you sent me the email to alert me that it was available. * I will be able to print a copy of the Disclosure or download the information for my records. * This consent applies to this transaction, to all future Disclosures on this Account, to all future transactions in which I use the Bill Me Later Payment System or with you, at any time, and to other Disclosures that you provide to me by email, unless I have, prior to such transaction, withdrawn my consent by the procedure mentioned below. The disclosures and information I will receive in this online session are: * This Bill Me Later E-Sign Consent * Bill Me Later Important Disclosures * Bill Me Later Account Agreement * Privacy Notice 3. WHAT I WILL NEED. I understand that in order to access and retain the electronic Disclosures I will need the following: * A computer with an Internet connection * A current web browser that includes 128-bit encryption. (Minimum recommended browser standards are Microsoft Internet Explorer version 6.0 and above, Firefox version 1.5 and above, or Safari 2.0 and above.) The browser must have cookies enabled. * A valid email address. * Sufficient storage space to save past Disclosures OR an installed printer to print them. * If I use a spam filter that blocks or re-routes emails from senders not listed in my email address book, I must add [email protected] to my email address book. 4. REQUESTING PAPER DOCUMENTS AND WITHDRAWING CONSENT. I understand that I may request paper copies of the Disclosures within 180 days of the date of the Disclosure, and that you will provide them to me by mail at no charge. I understand that I have the right to receive these Disclos
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Answer:
You didn't provide any information about the actual terms of the loan. If this is similar to a store credit card, most likely you will get a monthly bill, and if you pay the entire balance in full by the due date, you won't pay any interest. But I don't know for sure because you list a whole bunch of stuff but not the relevant information. You need to read the information pertaining to grace periods, interest rates, etc. It usually is in a big box that is easy to find. Most likely there are no fees, but that would be in the big box also. Sometimes they also have deals where you get 90 days or 6 months or a year to pay without interest. You may have to make minimum monthly payments, and make sure you pay in full by the exact date, because if you mess up they retroactively charge interest from the purchase date. Store credit is usually not as good as a regular credit card because they don't give rewards and the interest rates are usually very high. If you won't be charged interest if you pay on time and in full, and you'll have the money in a few weeks, you should be ok. But you need to find the relevant information and read it carefully.
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