Is Bps's "take 6 Months To Pay" A Scam 2024
basslover12345 reply :
Is BPS's "Take 6 months to pay" a scam? I've found about $250 in tackle (Mostly plastics, hooks, and line) that I want to buy and was thinking about doing the 6 months to pay deal, I have a Visa debit card and with all the $120 I have in the account now, it seems like a good deal especially with the $30 I make a week with my Job. But, has anyone ever tried doing the 6 months to pay? I just want to make sure it's no rip off or scam.......
Ima Bass Ninja reply :
I did it with a sonar unit. Its not necessarily a scam but they do automatically draft from your account so you'd better make sure you have the money in the bank when its time to pay or you'll get hit with some serious overdraft fees. Considering after about 3 months i had forgotten about the bps draft i would give it careful consideration before you jump into it. Luckily i did have enough to cover the draft but i would not do it again, i'd just save my money and buy it outright.
JigMe reply :
I highly doubt that Bass Pro Shop will try you scam you over 250 dollars; personally I haven’t done it myself. But my fishing buddy Fitz has used that option to purchase 2 shimano reels, and no problems so far…
grimlin reply :
Pay what you can afford in cash now or save up till you have the money. Owning money is never a good thing and will put you in a debt in a hurry.
Since I can't find it anymore(to read the fine print),I'm guessing you need to apply for some sort of credit card.Interest rate & annual fees could apply.If that's the case it'll end up costing you even more money in the long run.
I wouldn't call it a scam.Somehow some way they'll make an extra dollar or two off of it.That's how these things work.
J Francho reply :
QuoteOwing money is never a good thing and will put you in a debt in a hurry.
In a hurry, immediately actually, LOL.
I'd use it IF, and that is a big IF it was interest free, and I had more than 3/4 of the cash saved up.
You have to watch out though. Most of these interest free lines of credit are interest free only if you pay down the account in a time frame, like 6 months or a year. I have an 12 month interest free line of credit for a $3000 vet bill. What do you think their minimum payment is? yep, $20 a month, LOL. I pay 10% each month. If you do not pay it off in the time frame, it's a 30% interest penalty, er... I mean "rate." Years ago, I bought my range this way as well. Really helps you budget a big purchase like this, especially if it's an emergency.
JigMe reply :
On 11/16/2011 at 9:58 PM, J Francho said:If you do not pay it off in the time frame, it's a 30% interest penalty, er... I mean "rate." Years ago, I bought my range this way as well. Really helps you budget a big purchase like this, especially if it's an emergency.
Learned my lesson when I bought a TV on the bestbuy credit card, "interest free for 54 months." And the minmium montly payment was 25 bucks. Unfortunately, when 54 months were up and I still owe best buy almost 1000 dollars. And then, here comes the 20% APR but luck enough I have enough in savings to pay it off. Anway, I agree with everyone here that don't buy into something unless you have enough NOW to pay it off.
J Francho reply :
Always, always know the interest rate, the principal, and the length of the loan!!!!!!!! Make your own "finish early" payment plan from there.
No way I'd buy a TV on that type of plan. A major appliance blows up 6 months after buying a house - sure. 
whittler1 reply :
It is NEVER a good idea to go in debt for toys.
Hamby reply :
I'm pretty sure it's gone and you can't do the 6 months anymore, but i believe you had to get approved. They'd run your credit. Being young and having no credit at all, they probably would not have approved you.
Grey Wolf reply :
I've used it , not a scam but I'm guessing they would not extend the offer to a juvenile.
They use your exsisting credit card you have and charge your account the first two payments , then go from there.
K_Mac reply :
For many of us who live closer to the edge than we would like, debt can sometimes be necessary. J Franco's example is Murphy at work. Major appliances always blow up at the worst times. An interest free payment plan can be a great way of handling the situation. As with all "interest free" credit card/consumer debt though, the lender is betting that you will not pay off the debt in a timely manner and they will profit from very high interest rates. While this is not really a scam, they know statistically that once they have you they will profit from you. For those who have the discipline the BPS deal is fine, but few of us have the self-discipline to take advantage of these offers without "free" being very costly.
Lund Explorer reply :
On 11/16/2011 at 9:05 PM, basslover12345 said:Is BPS's "Take 6 months to pay" a scam? I've found about $250 in tackle (Mostly plastics, hooks, and line) that I want to buy and was thinking about doing the 6 months to pay deal, I have a Visa debit card and with all the $120 I have in the account now, it seems like a good deal especially with the $30 I make a week with my Job. But, has anyone ever tried doing the 6 months to pay? I just want to make sure it's no rip off or scam.......
I used it once and it isn't a scam. They will charge your debit/credit card in equal installments each month until it's paid for.
That being said, if you already have $120 in the account, another six weeks will give you enough to pay outright for everything on your list. It will also be right after Christmas which is usually a good time to see if any of the stuff you want goes on sale in January.
BASSclary reply :
There's a reason I buy everything in cash, all-at-once, up-front, and request a receipt. It works well. If I dont have the money, I dont buy it. that's how I bout my jeep.
slonezp reply :
My BPS card was thru Bank of America. I sent in a payment and they received it a day after the "due" date. Jacked my rates up from 13% to 29% and refused to negotiate a resolution. Guess who no longer has a Bank of America credit card. I'd be more concerned about the bank giving the credit and not BPS.
SirSnookalot reply :
Living in a cold climate you probably don't need the merchandise now, save up and pay cash, senseless to pay a fee.
QuotePosted Yesterday, 11:59 PMMy BPS card was thru Bank of America. I sent in a payment and they received it a day after the "due" date. Jacked my rates up from 13% to 29% and refused to negotiate a resolution. Guess who no longer has a Bank of America credit card. I'd be more concerned about the bank giving the credit and not BPS.
I had that happen to me, it was my fault not the banks as I did not allow enough time for mail or online payment to be transferred. A credit card is one of the greatest forms of free credit as long as you pay in full on or before the due date. I do understand in cases of emergency with larger expenses you have to do what's needed. Fishing gear is not an emergency, paying interest or fees is only jacking up the price.
basslover12345 reply :
I'm not looking at their credit card.........
BASSclary reply :
On 11/17/2011 at 7:10 PM, basslover12345 said:I'm not looking at their credit card.........
But taking 6 moths to pay is taking credit. Its the same thing essentially.
jeb2 reply :
More or less, yes. No interest or upcharge on the bill to pay for it, but it is still credit. Cabela's does the same thing, and I did use it once years ago. Probably would never do it again, though. I figured it was like one of those "6 months same as cash' deals (which I love to take advantage of), and it is to a point. But having to keep track of it and wondering exactly when it will stop was just not worth it to me.
JigMe reply :
On 11/17/2011 at 7:44 PM, BASSclary said:But taking 6 moths to pay is taking credit. Its the same thing essentially.
BPS would still need to run a credit check on him, and probably not going to get approved since he is an adolescent (don't think he has any credit, but could be wrong).
Gangley reply :
Credit is for emergencies only (vet bills, auto reparis, etc.), but if you manage your money properly you wont even need it for that. Your young, stay away from credit cards and learn fiscal responsibility. I know your thinking that with credit you can get what you want right now, but be patient, save, and learn the art of self-restraint. In the long run you will OWN everything you need and OWE nothing. Too many of my friends couldn't tell themselves "no" when we were younger and as a result are in debt that they will be paying off for the next 10 years.
Show some self restraint, save, and purchase it once you've earned it, not before.
BASSclary reply :
On 11/17/2011 at 9:10 PM, Lee.MD said:BPS would still need to run a credit check on him, and probably not going to get approved since he is an adolescent (don't think he has any credit, but could be wrong).
I'm aware, I was just letting him know, whether it be a credit card, or 6 months to pay, they're essentially both the same thing more or less. Credit.
Ratherbfishing reply :
In our world it's virtually impossible to remain completely debt free. I personally know no one who paid for their house with cash. However, I think it's a very bad idea to get into debt unnecessarily. If you don't have the cash for something, don't borrow it. Many people who buy on credit almost immediately "forget" that they've already borrowed and keep borrowing or they will spend to the limit of their income and when the time comes to pay a loan, the money won't be there. That's where the interest and/or the headaches begin to pile up! Don't get the dangerous notion that money will always be there when you need it. I've witnessed how debt can snowball out of control and before you know it, they (the banks and credit lenders) will have your family jewels in a vice. Don't say I didn't warn you. Besides, if you defer gratification for items until you can pay cash for them, you'll appreciate them way more.
pitchinthejig reply :
i ordered about 14k worth of electronics when they had it about 5 months ago, it is a really good program they did do a credit check but i have excellent credit so no prob there, just letting you know... i however doubt they will run a credit check on that small a sum. they debited my account on just about the same day each month (within a day or two of the day of last month) if you need the stuff and dont want to put all the cash up at once do it... i do remember they put a hold on about 7 or 8k worth of funds that fell off in about 5 or 6 days and then they did a charge for the first payment and after that it was just the payment every month. worked perfect and no intrest charges. i would do it again next time i need to do a electronics upgrade for both boats.
also its 6 payments to pay it off they auto debit your bank or cc every month, there is no fee NONE if for some reason your bank declines the payment THEN they will try and debit for the full ammount... it is a good program if you bought 250 worth of stuff and its 250 out the door then your payment is 41.66 a month for 6 months, in my case my total was 14,734.11 and my payment was 6 auto drafts of 2455.68 a month, see no fees. you cant be late they take the money once a month its just up to you to MAKE SURE THE MONEYS THERE. now what i would NOT do is use a credit card to do this with then you own it to then then they charge your credit card and your still in debt... use your bank debit card so when its paid its paid. CC's are only for points earned and PAID OFF each month on day 24 so no fees.... ive never had credit extended more then a month on anything but my house... new trucks and 21 foot bass boats always paid CASH... wish i could have done it with my house but couldnt.
only you know what you income allows so if you can afford it and understand that you either pay it now or in 6 months then i see no problem with it but understand its a debt you will have to pay and like i said they arent gonna run a credit check on that small a sum.
Hyrule Bass reply :
On 11/18/2011 at 6:31 AM, Long-Range-Junkie said:ive never had credit extended more then a month on anything but my house... new trucks and 21 foot bass boats always paid CASH... wish i could have done it with my house but couldnt.
way to rub that in there buddy 
SirSnookalot reply :
QuoteLong-Range-Junkie, on November 17 2011 - 05:31 PM, said:ive never had credit extended more then a month on anything but my house... new trucks and 21 foot bass boats always paid CASH... wish i could have done it with my house but couldnt.
As long as I was entitled to mortgage interest deduction, I wouldn't pay cash for a house...........I can, but used the cash to earn a higher interest rate than I was paying on the mortgage.
J Francho reply :
If all they are doing is charging a card, I'd just supply my Visa checking card. Again - have the money beforehand.
Grey Wolf reply :
On 11/19/2011 at 3:19 AM, J Francho said:If all they are doing is charging a card, I'd just supply my Visa checking card. Again - have the money beforehand.
That's all they do.
J Francho reply :
That's not a bad deal then, my card is linked to my MM account. Make a little interest, heh.
Big Fish Rice reply :
The young man is talking about $250, not a new house or car.
If they link to your existing debit card, then just make sure you have the funds necessary to cover the monthly payment at least 3 days before the payment is to come out.
Ultimately, like JFranco said, you want to make sure you are aware of any interest (if there is any) and calculate the monthly payment that would finish the offer in 6 months.
Just be responsible and go for it. If you need help with calculating anything, PM me and I'll help you.
Jim_M reply :
We have purchased two flat panel TV's and a couple computers on similar plans at Best Buy over the years.
Very handy if you have the discipline to pay them off before the interest hits.
NoBassPro reply :
My wife used it last year and had no problems, with having kids its a nice way to space out our holiday spending some. Its an installment loan, not an introductory offer on a revolving credit line. I believe they charge an extra dollar or two per installment for using it.
chromedog reply :
I have used it before because sometimes when you need a bunch of stuff at once (like when I bought my boat this year) and your wife wont let you spend the money cause kids need this or that, or the car needs a part or the furnace is going etc....
Let me clear up a few things. They reserve the right to check credit, doesn't mean they will. I think it may depend on total price of items. I used my regular banking/debit mastercard.
They charge you for three payments right off. Two payments will fall off in a matter of days (usualy 2, but they say it can take up to ten). Then each month for the next 5 months, they automatically take the payment out of your account, plus a $1 dollar processing fee.
It is a pretty good deal, no interest and with the short fishing seasons we have here it made it easy to get my depth finder and stuff I needed for my boat so I could fish right away when I bought my boat the end of July.
Just make sure the money is in there. They will take it out approx. the same date each month.
Just keep track.
FishingTiff reply :
This thread is about 6 years old, but in case anyone is looking now, I have used the offer twice, when it's available. No catch. But I also pay it off as soon as the installment hits. It's handy for me. I have about 700 bucks worth of stuff sitting in my cart now and I will order when they offer it again.
I suppose the amount of items sitting in my cart will grow if they take too long!
Dinky reply :
On 11/17/2011 at 7:10 PM, basslover12345 said:I'm not looking at their credit card.........
Normally a retailer like BPS actually uses a bank for these deals because they don't have a banking charter themselves and cannot legally loan money.
This is true even though you may not be required to obtain their credit card to complete the transaction.
It's not a scam. If you purchase goods and agree to pay for them in six months at no interest, you are actually also agreeing that if you don't pay in full in six months, then you will pay a particular interest rate on the purchase, retroactive usually to the date of purchase, on the outstanding balance until fully paid. In other words it reverts to an installment purchase if you fail to pay in full in six months. This includes failing to make a payment on time.
It's not a scam, but it is a very iron clad contract.
Darren. reply :
Holy Thread Revival, Batman!
Welcome aboard, @FishingTiff!
3dees reply :
I have never done this with BP but I have more than a few times with PayPal. never had a problem. you just need to realize that if you don't pay it off in the allotted time your going to be charged out the wazoo. I always paid it off within 3 months.
Raul reply :
6 years ! How come somebody manages to find and dig out a 6 year old thread ?
mixel reply :
Last 15 years or so, I've held tight to three simple rules financially speaking
1. don't spend more than I make.
Pretty simple rule. Easy to follow as long as you don't have big emergency bills (force majeure).
2. Similar to long-range-junkie, if i can't afford to buy it outright at the time I want it, I don't purchase it.
This rule alone has alleviated virtually all stress on the financial side of things for my life. Obviously this simple rule might not apply to buying big items like a home or vehicle, but in my case, it applies to a vehicle too.
3. If it costs more than $250, I will wait a week or two before purchasing to avoid making impulse purchases on large items.
Quite often, I find with a little time, I realize I either don't want it that bad, or don't really need it. And thus, I end up not buying it.
--
On a side note, I use a CC for everything I would normally purchase with cash, such as vehicle parts/maintenance, groceries, gas, clothes, lures, etc. It's great because I get cash back, and at the end of the year I usually have a nice chunk of change which I use for Christmas gifts and travel. It's simple and anyone can do it. It also makes keeping track of purchases super easy because it's all in one place, on one account. 
I doubt the BPS thing is a scam, but as others have said, you better made sure you have it when time comes. A lot of things can happen in life in a 6 month time frame. It's a marketing ploy to get those people who say 'well I should have enough money by next month to cover it' to make the purchase immediately. Guaranteed they'll make a lot of 'free' money via interest on missed or less-than-full payments 6 months from the purchase.
ethan-333 reply :
gonna go ahead an edit my comment and act like i knew this was a 6 year old post....
Bluebasser86 reply :
On 2/14/2017 at 5:15 AM, Raul said:6 years ! How come somebody manages to find and dig out a 6 year old thread ?
But there's a new "What's the best?" post a few times every day
Raul reply :
On 2/14/2017 at 2:47 PM, Bluebasser86 said:But there's a new "What's the best?" post a few times every day
Fresh out of the oven.
mixel reply :
On 2/14/2017 at 2:42 PM, ethan-333 said:gonna go ahead an edit my comment and act like i knew this was a 6 year old post....
J Francho reply :
Tangent airlines, departing shortly.... lol.
After six years, I think a scam would have made itself known.
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