topic Re: B&H introduces Payboo credit card which "refunds sales tax" in Credit Cards

B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Tue, 07 May 2019 06:08:19 GMT

Interest development at B&H following the SD vs wayfair ruling's consequences.

Card's biggest feature is to "instantly refund sales tax", is from Synchrony, "Purchase APR is 29.99%" and more details in this link https://www.bhphotovideo.com/payboo

Seems like a desperate move as AFAIK retailers don't have that high a margin to begin with, yet a pretty good card for those that buy a lot from B&H as 8%-ish cashback is hard to see these days (this is not a normal store card, because stuff people buy from B&H are usually sold at many other retailers at the same MSRP).

Curious about whether adorama or other big mail order houses will follow this lead.

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Tue, 07 May 2019 06:42:41 GMT

Interesting idea.

I actually won’t buy from B&H anymore because they don’t collect Colorado taxes and filing use taxes is a huge pain. This card doesn’t appear to be available to us either. Not that I would apply with that high of an APR.

Re: B&H introduces Payboo credit card which "refunds sales tax"

SouthJamaica — Tue, 07 May 2019 12:03:07 GMT

@Anonymous wrote:
Interest development at B&H following the SD vs wayfair ruling's consequences.

Card's biggest feature is to "instantly refund sales tax", is from Synchrony, "Purchase APR is 29.99%" and more details in this link https://www.bhphotovideo.com/payboo

Seems like a desperate move as AFAIK retailers don't have that high a margin to begin with, yet a pretty good card for those that buy a lot from B&H as 8%-ish cashback is hard to see these days (this is not a normal store card, because stuff people buy from B&H are usually sold at many other retailers at the same MSRP).

Curious about whether adorama or other big mail order houses will follow this lead.

Seems like an amazing deal to me. Obviously it's not a card to use for carrying balances, but for making purchases it's a fantastic deal. B&H has great stuff and service, and its prices are highly competitive.

Re: B&H introduces Payboo credit card which "refunds sales tax"

Kforce — Tue, 07 May 2019 16:24:21 GMT

I have spent a lot of money at B&H over the years.

Got the email from them about an hour ago.

For my zip code this is a 9.5% cash back store card.

Might need to get this before that "Canon EF 800mm f/5.6L IS USM"

Re: B&H introduces Payboo credit card which "refunds sales tax"

SouthJamaica — Tue, 07 May 2019 17:59:38 GMT

@Kforce wrote:
I have spent a lot of money at B&H over the years.
Got the email from them about an hour ago.
For my zip code this is a 9.5% cash back store card.
Might need to get this before that "Canon EF 800mm f/5.6L IS USM"

That is a huge cash back return.

Re: B&H introduces Payboo credit card which "refunds sales tax"

KLEXH25 — Tue, 07 May 2019 18:43:41 GMT

Huh. I got a vague email from B&H last night regarding their solution to the sales tax dilemma and was wondering how they’d do it. Very intriguing indeed. I don’t do a ton of shopping there, but if I’m looking for electronics, I almost always get the best deals there and go with them.

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Tue, 07 May 2019 18:56:49 GMT

My question is, how is this sustainable for a store card? Even assuming they pay zero in interchange fees to run them, that could still be 5%+ they'd have to cover in rewards. Are they expecting that many people to revolve balances?

Speaking of which, 29.99% APR per the small text at the bottom.

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Tue, 07 May 2019 19:07:15 GMT

Senseless card.

In Illinois, B&H charges sales tax but Adorama doesn't.

Adorama also is part of BeFrugal/eBates but B&H isn't, so that's another 1-2% cash back. Adorama has a decent rewards points program as well.

Buying on B&H with their crappy store card means paying MORE than I would pay at Adorama. Way more, in most cases. 4%+ more I'd say.

Re: B&H introduces Payboo credit card which "refunds sales tax"

pinkandgrey — Tue, 07 May 2019 19:12:05 GMT

@Anonymous wrote:
Interesting idea.

I actually won’t buy from B&H anymore because they don’t collect Colorado taxes and filing use taxes is a huge pain. This card doesn’t appear to be available to us either. Not that I would apply with that high of an APR.

Everything you said makes sense. However, I think my biggest problem with the card is the name lol

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Tue, 07 May 2019 19:24:39 GMT

@pinkandgrey wrote:
@Anonymous wrote:
Interesting idea.

I actually won’t buy from B&H anymore because they don’t collect Colorado taxes and filing use taxes is a huge pain. This card doesn’t appear to be available to us either. Not that I would apply with that high of an APR.
Everything you said makes sense. However, I think my biggest problem with the card is the name lol

The name is..... unfortunate... but it’s not like you’re going to carry this around in your wallet anyway. I would carry around a pink Barbie credit card with rhinestones on it if it gave me 7.25% back though, just saying.

Re: B&H introduces Payboo credit card which "refunds sales tax"

pinkandgrey — Tue, 07 May 2019 19:25:52 GMT

@Anonymous wrote:
@pinkandgrey wrote:
@Anonymous wrote:
Interesting idea.

I actually won’t buy from B&H anymore because they don’t collect Colorado taxes and filing use taxes is a huge pain. This card doesn’t appear to be available to us either. Not that I would apply with that high of an APR.
Everything you said makes sense. However, I think my biggest problem with the card is the name lol
The name is..... unfortunate... but it’s not like you’re going to carry this around in your wallet anyway. I would carry around a pink Barbie credit card with rhinestones on it if it gave me 7.25% back though, just saying.

Lololol true!

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Tue, 07 May 2019 22:33:33 GMT

Sounds like the repo guy who works for Aaron's Rent-To-Own. He tells the customer "you gotta payboo".

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Tue, 07 May 2019 22:35:25 GMT

Re: B&H introduces Payboo credit card which "refunds sales tax"

jamesdwi — Wed, 08 May 2019 23:18:27 GMT

@Anonymous wrote:
Interest development at B&H following the SD vs wayfair ruling's consequences.

Card's biggest feature is to "instantly refund sales tax", is from Synchrony, "Purchase APR is 29.99%" and more details in this link https://www.bhphotovideo.com/payboo

Seems like a desperate move as AFAIK retailers don't have that high a margin to begin with, yet a pretty good card for those that buy a lot from B&H as 8%-ish cashback is hard to see these days (this is not a normal store card, because stuff people buy from B&H are usually sold at many other retailers at the same MSRP).

Curious about whether adorama or other big mail order houses will follow this lead.

I'm betting the tradeoff will be no 6, 12, 18, or 24 month zero interest deals on purchases.

I enjoy paying off balances on my new toys, for multiple months and never pay any interest.

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Thu, 09 May 2019 04:20:14 GMT

@jamesdwi wrote:
@Anonymous wrote:
Interest development at B&H following the SD vs wayfair ruling's consequences.

Card's biggest feature is to "instantly refund sales tax", is from Synchrony, "Purchase APR is 29.99%" and more details in this link https://www.bhphotovideo.com/payboo

Seems like a desperate move as AFAIK retailers don't have that high a margin to begin with, yet a pretty good card for those that buy a lot from B&H as 8%-ish cashback is hard to see these days (this is not a normal store card, because stuff people buy from B&H are usually sold at many other retailers at the same MSRP).

Curious about whether adorama or other big mail order houses will follow this lead.
I'm betting the tradeoff will be no 6, 12, 18, or 24 month zero interest deals on purchases.

I enjoy paying off balances on my new toys, for multiple months and never pay any interest.

Does B&H used to offer '6, 12, 18, or 24 month zero interest deals'?

Re: B&H introduces Payboo credit card which "refunds sales tax"

jamesdwi — Thu, 09 May 2019 05:37:54 GMT

@Anonymous wrote:
@jamesdwi wrote:
@Anonymous wrote:
Interest development at B&H following the SD vs wayfair ruling's consequences.

Card's biggest feature is to "instantly refund sales tax", is from Synchrony, "Purchase APR is 29.99%" and more details in this link https://www.bhphotovideo.com/payboo

Seems like a desperate move as AFAIK retailers don't have that high a margin to begin with, yet a pretty good card for those that buy a lot from B&H as 8%-ish cashback is hard to see these days (this is not a normal store card, because stuff people buy from B&H are usually sold at many other retailers at the same MSRP).

Curious about whether adorama or other big mail order houses will follow this lead.
I'm betting the tradeoff will be no 6, 12, 18, or 24 month zero interest deals on purchases.

I enjoy paying off balances on my new toys, for multiple months and never pay any interest.

Does B&H used to offer '6, 12, 18, or 24 month zero interest deals'?

I believe they have "Bill Me Later" that offers zero interest deals.

Re: B&H introduces Payboo credit card which "refunds sales tax"

Turbobuick — Thu, 09 May 2019 16:26:57 GMT

I got the offer, but the few times a year I've bought at B&H, they've never charged sales tax. California.

Re: B&H introduces Payboo credit card which "refunds sales tax"

KJinNC — Thu, 09 May 2019 16:52:09 GMT

I am sincerely confused how somebody came to the conclusion that "Payboo" was a good name for ... well, for anything. Except maybe a minor villain in a comic book. I know you're not pulling this card out to impress anybody, but ... "Payboo"?!?

Re: B&H introduces Payboo credit card which "refunds sales tax"

Anonymous — Thu, 09 May 2019 21:23:39 GMT

I don't understand how B&H can do this? If I bought an item that has $500 sales tax on it, do they really reach into their own pockets and give me the $500? Consumer electronics have decent margins, but not to the point where you can give away hundreds of dollars.

Re: B&H introduces Payboo credit card which "refunds sales tax"

UncleB — Fri, 10 May 2019 01:53:09 GMT

@KJinNC wrote:
I am sincerely confused how somebody came to the conclusion that "Payboo" was a good name for ... well, for anything. Except maybe a minor villain in a comic book. I know you're not pulling this card out to impress anybody, but ... "Payboo"?!?

True, it wouldn't be my pick, either, but on the other hand here we are all talking about it...