I received a fun email today from B&H informing me that my Payboo card is going to be closed. Apparently, they are switching away from Synchrony for the B&H cards, but they are not transitioning Synchrony cardholders over to the new provider. They state explicitly that you must apply for the new Payboo card. They did not mention who the new issuer will be. This is going to cost me a $17,000 TL! Also, I use the Payboo card frequently due to the tax savings, so it is a bit frustrating. I am not sure if I will reapply for the new card or not.
@Anonymous wrote:Boo! Don't mess with my PayBoo!
I recieved this unpeasant surprise in my inbox today as well. While I only run on average maybe 5k/year through it, this is actually one of my favorite cards. The instant "tax rebate" equal to the (California, in my case) sales tax is an awesome perk.
I find the benifit useful enought that I'll likely reapply, but I won't know for sure until they announce the new issuer.
Anyone know what Synch does with accounts in a case like this? Do they switch customers to a new Synch branded card, or just close the account, or...? While I only have a couple years of history with it, I'd rather keep that if possible.
I'm in the same boat. I have had this card almost two years. I like it for the tax rebate and I like my $17k credit line that is attached to it. Hopefully, Synchrony will convert these into a Synchrony Mastercard. That's about all they could do with it at this point. But they could just close all the accounts and do nothing. I don't think we will know until we hear from Synchrony directly. This email was from B&H. Ultimately, it is up to Synchrony if they want to keep the cardholders in this particular portfolio in their customer base.
I just got the same email....uggh. I just opened the card on black Friday for a drone buy. Had I have had any inkling this would happen I would have never. On the bright side I did get my new drone on 24 month no interest promo so it's not too bad of sting. Such is life!
Cheers 🍻
Starting Score: 560
@Anonymous wrote:
@Anonymous wrote:Boo! Don't mess with my PayBoo!
I recieved this unpeasant surprise in my inbox today as well. While I only run on average maybe 5k/year through it, this is actually one of my favorite cards. The instant "tax rebate" equal to the (California, in my case) sales tax is an awesome perk.
I find the benifit useful enought that I'll likely reapply, but I won't know for sure until they announce the new issuer.
Anyone know what Synch does with accounts in a case like this? Do they switch customers to a new Synch branded card, or just close the account, or...? While I only have a couple years of history with it, I'd rather keep that if possible.
In the recent past Synchrony and Marvel formed the Marvel Mastercard. A lot of people had this card from Synchrony with high CL's
They decided to part ways. Synchrony could have issued a MC but instead closed every single account. They did not transfer the Marvel accounts to any sort of other card. They just shut them all down. All you can do is look at this track record and decide for yourself
Thanks
Mark
And yet you apply for Synch cards yourself...
@rostrow416 wrote:
@WarthogWrangler wrote:I'm confused by this because I have a B&H card but it's not the Payboo card. It's just the Synchrony B&H card. They are shutting down both? Or just the Payboo?
Sounds like both are getting shut down. The new card will have both financing and no-tax perks built into one card (which you can choose either option when you make a purchase).
Definitely looks like both. The page on the B&H website for the non-Payboo card reads:
We are no longer accepting new applications for this credit card.
Thank you for your interest in this card. We will be introducing a new and improved credit card program in the second half of January 2022. Please check back in January for details.
Note: We will continue to accept payment with existing cards for orders placed through January 17, 2022.
