"Bill me Later" is a service that lets you buy now and pay later. It is a credit line offered by Comenity Capital Bank with min. purchase and payments requirements.
If a minimum payment is not received by your payment due date you will be charged a late fee in the amount of the missed payment up to $25 the first time you are late.
To answer your question â€¦.. yes, Comenity Capital Bank shares your personal information with Credit bureaus and collection agencies to report account information, as permitted by law.
The reason for not showing on your credit report could be, that you just recently got approved for this credit line. Did you make any purchase yet? Did you already make any payments?
Please feel free to contact me with any questions regarding a Mortgage Loan pre-approval you have at your earliest convenience.
Lic. Mortgage Specialist
When you are going for a pre-approval it is also for your benefit to make sure you can comfortably afford the cost of purchasing a new home. When you are applying they will ask you about monthly expenses you currently have, to compute your income to debt ratio. I usually tell buyers to have the lender estimate taxes, insurance and possible HOA fees into the pre-approval price, so that you have a good idea of what monthly payment you can afford and how much mortgage money that will buy you.
Many lenders used to do "stated income" -they put down what ever the buyer said, without verifying it, to make sure the Buyer got approved. Many of these are the homes that are now in "foreclosure" or attempting to do a "short sale", because they got in over their head. Be honest and discuss it with the mortgage broker you are working with, you don't want to end up with a home you cannot afford.
If you need the names of some mortgage people to speak with let me know and I would be glad to give you a few local people you can speak with. I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
You can obtain a free copy of your credit report once a year from all 3 of the major credit bureaus. So you may want to do this if you are curious and want to see what is on there.