Why would B&H promote this??

Started 2 months ago | Discussions thread
mamallama Forum Pro • Posts: 55,572
Re: Why would B&H promote this??

Michael Fryd wrote:

mamallama wrote:

tbcass wrote:

It's away to avoid paying sales tax. Why gripe about it. It's foolish not to pay any credit card off right away.

That's easy for those who manage their credit card accounts properly. But many people can not or do not manage their credit card accounts properly and that is what B&H and other store enticed high interest credit count on to make the promotion worth while to them.

Basically that is the answer to both the question of the OP:( Why would B&H promote this?) and the one posed by Henry p: (Why wouldn't B&H promote this?). Statistically, it's a money maker for them.

It is not clear whether B&H gets any part of the interest charged. The PayBoo credit card is a product of Synchrony Bank. They are the ones charging and collecting the interest.

The kickback that stores get on these so-called high interest store credit cards is a well kept secret, but I do not believe stores like B&H are doing it for no benefit to them.

I assume that B&H promotes this Synchrony Bank program because B&H feels that it will be an overall benefit to consumers, and therefore encourage customers to purchase products from B&H.

I cannot believe B&H is doing it solely as a benefit to consumers and nothing for themselves.

B&H seized upon the emotional reaction some had when they lost their way to avoid paying state sales tax and used it as a way to promote a store credit card.

This is the same reason why most businesses accept credit cards. Customers want to use credit/debit crds, and businesses want customers.

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