Why would B&H promote this??

Started 2 months ago | Discussions thread
lilBuddha Veteran Member • Posts: 4,351
Re: Why would B&H promote this??

Timzee wrote:

Spent tens of thousands of dollars over decades at B&H and have never had anything negative to say about them. However when I received my last order from them ($300) there was a card inserted promoting this "Payboo" card that one could use to save sales tax in some instances.

Searched here and found a few discussions related to Payboo and I have to admit it sounded good UNTIL I looked into the terms. The annual Percentage Rate (APR) for
Purchases is 29.99 per cent! Further searches reveals the average APR these days is 17.73% which is high enough, but 30%?!

Now obviously if one pays the balance before the due date they can avoid this ridiculous surcharge, but hey-- I can't imagine why B&H would want to have anything to do with this card.

Would I use it? Well, I guess if I was buying an expensive item from their store I'd have to consider it, but at the same time it would leave me with a bitter taste by promoting this "service".

Just my $.02...

  • They are paying your taxes.
  • It costs you nothing if you do not leave a balance on the card.
  • The issuing bank is likely driving the high rate to lower the acceptance threshold so that more customers qualify.
  • No one is forced to use the card

Legally, most states have required the buyer to pay sales tax and the buyers have enjoyed a free ride by ignoring this. Whilst that card rate is high, properly used the buyer can still enjoy that advantage at B&H's expense. Not seeing the complaint.

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