BnH REALLY!? (Page 7): You still have to make the monthly payments, but (depending on which option you chose at checkout) you may have 6-12 months to pay it off in full without the...

tripsy76 Loc: Northshore, MA

jim quist wrote:

First of all I have lost count of how much money I... (show quote)

You still have to make the monthly payments, but (depending on which option you chose at checkout) you may have 6-12 months to pay it off in full without the interest kicking in.

Scruples Loc: Brooklyn, New York

jim quist wrote:

First of all I have lost count of how much money I have happily spent at BnH….

If something doesn’t feel right, go to customer service. You can hash it out with them. Their goal is to make and keep you happy.

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billnikon wrote:

You should call customer service, and in case you ... (show quote)

DO NOT CALL B&H. They are not the bank.

Jfholly

I have had the worst service with the bank that handles the Pay Boo credit , good luck.

BigDaddy Loc: Pittsburgh, PA

billnikon wrote:

...I WOULD CALL THEM INSTEAD OF COMPLAINING HERE.
Why not put your big boy pants on and call them, I am sure BnH will fix it, REALLY!!!!!!!!!!!!!!!!!!
Folks like you that come here FIRST to complain instead of handling it with customer service show everyone here what you really are, a whiner.

By "complaining here" he has allowed quite a few to show their confusion with the issues around this. At the very least, anyone planning to buy on credit from B&H will be more likely to pay attention to the deals at B&H. If the OP is a bit confused, or a bit conned means others could stand a little enlightenment as well. Kudos to Jim for sharing and allowing fellow travelers to let some light shine in. Shame on you for attacking him for it and kudos to you for explaining what you know about it. Would have been nicer, but less entertaining if you would have left out the attack...

BebuLamar

BigDaddy wrote:

By "complaining here" he has allowed qui... (show quote)

Yes and reading all the posts about payboo I decided not to have a payboo account.

BigDaddy Loc: Pittsburgh, PA

BebuLamar wrote:

Yes and reading all the posts about payboo I decided not to have a payboo account.

I never heard of payboo. At first I thought it was a take-off on PayPal. I now know that Payboo is really B&H, and it's credit is for B&H only. I understand free interest, but I'm not too sure about how the no tax thing works? I thought it was against the law now to avoid state taxes and because of that, Amazon and the like now collect taxes from everyone?

DRM Loc: NC

BigDaddy wrote:

I never heard of payboo. At first I thought it was a take-off on PayPal. I now know that Payboo is really B&H, and it's credit is for B&H only. I understand free interest, but I'm not too sure about how the no tax thing works? I thought it was against the law now to avoid state taxes and because of that, Amazon and the like now collect taxes from everyone?

B&H DOES "collect" the sales tax via their payment processing system, then--as a part of the same transaction--reimburses (credits) the customer. The tax amount is captured for reporting and remittance to the relevant state. Essentially, B&H is absorbing the sales tax cost on behalf of the customer. Particularly for large ticket items, it's a great benefit available to B&H customers.

BebuLamar

BigDaddy wrote:

I never heard of payboo. At first I thought it was a take-off on PayPal. I now know that Payboo is really B&H, and it's credit is for B&H only. I understand free interest, but I'm not too sure about how the no tax thing works? I thought it was against the law now to avoid state taxes and because of that, Amazon and the like now collect taxes from everyone?

If you have a PayBoo card and when you made the purchase from B&H using the card, B&H will pay the tax so the state will get the sales tax that is supposedly paid for by B&H but I believe the bank pays it so they stand a chance to make it up with the interest.

BigDaddy Loc: Pittsburgh, PA

BebuLamar wrote:

If you have a PayBoo card and when you made the purchase from B&H using the card, B&H will pay the tax so the state will get the sales tax that is supposedly paid for by B&H but I believe the bank pays it so they stand a chance to make it up with the interest.

That makes sense I reckon and explains why you get one OR the other. Where I live, sales tax is 7%. Interest rate would have to be more than that to make it worth going for free interest.

BebuLamar

BigDaddy wrote:

That makes sense I reckon and explains why you get one OR the other. Where I live, sales tax is 7%. Interest rate would have to be more than that to make it worth going for free interest.

PayBoo interest is a bit over 29% so it's like 2.5% a month and compound monthly as the interest will be added to the principle for the next month.

DRM Loc: NC

BebuLamar wrote:

If you have a PayBoo card and when you made the purchase from B&H using the card, B&H will pay the tax so the state will get the sales tax that is supposedly paid for by B&H but I believe the bank pays it so they stand a chance to make it up with the interest.

As the vendor/retailer, B&H is legally responsible for remitting the sales tax to the states. Most retailers collect the tax from the customer, and thus serve as a collection/remittance middleman between customer and state. With PayBoo, the collection from customer aspect of the process is eliminated (if that's the option the customer selects).

You may be correct that Comenity reimburses B&H for sales tax avoided by customers using PayBoo, but remittance to states would be handled solely by B&H, whether or not they receive reimbursement from Comenity.

niteman3d Loc: South Central Pennsylvania, USA

I just told Copilot to tell me the total cost of a $6,000 loan paid off in five years. The number is (drum roll) *$11,500*. As you can see, borrowing money at 30% is a win / lose situation with any high interest rate credit card like Payboo. The bank is the winner, you're the loser. It's a loan of last resort.

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BigDaddy wrote:

By "complaining here" he has allowed qui... (show quote)

Entertainment rules.

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DRM wrote:

B&H DOES "collect" the sales tax via their payment processing system, then--as a part of the same transaction--reimburses (credits) the customer. The tax amount is captured for reporting and remittance to the relevant state. Essentially, B&H is absorbing the sales tax cost on behalf of the customer. Particularly for large ticket items, it's a great benefit available to B&H customers.

It a clever way to undersell MSRP and MAP.