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Feb 24, 2021 00:15:24   #
Hanson
 
Any experience in the B&H Photo's PayBoo card? Is it a good idea to have/use one? What is the catch?

Feb 24, 2021 00:40:11   #
ricardo00
 
Hanson wrote:
Any experience in the B&H Photo's PayBoo card? Is it a good idea to have/use one? What is the catch?


Have had it since they started. No "catch", use it, they credit you with the cost of sales tax (in California that is substantial) and I pay my credit card off each month. I know people who have bought very expensive lenses and cameras with it, no problem (so far haven't made any big purchases myself since I got the card, just smaller ones). The only "catch", you have to buy from B&H to get the sales tax credit (can use the credit card anywhere). And if you don't pay it off each month, there is a big interest charge (like all credit cards).

Feb 24, 2021 01:16:24   #
johngault007 Loc: Florida Panhandle
 
No catch I've seen so far. I use it and overpay the minimum balance well ahead of schedule (usually within 1 or 2 months). Just don't miss a payment and you won't be hammered with penalties.

 
 
Feb 24, 2021 01:38:34   #
ahudina Loc: Browns Point, WA
 
Hanson wrote:
Any experience in the B&H Photo's PayBoo card? Is it a good idea to have/use one? What is the catch?


I've had one since they started the program. No catch, works great for me. Just be sure you pay the balance in full each month as the interest rate is super high, as I recall, about 29.99%.

Feb 24, 2021 06:22:41   #
DaveO Loc: Northeast CT
 
ricardo00 wrote:
Have had it since they started. No "catch", use it, they credit you with the cost of sales tax (in California that is substantial) and I pay my credit card off each month. I know people who have bought very expensive lenses and cameras with it, no problem (so far haven't made any big purchases myself since I got the card, just smaller ones). The only "catch", you have to buy from B&H to get the sales tax credit (can use the credit card anywhere). And if you don't pay it off each month, there is a big interest charge (like all credit cards).
Have had it since they started. No "catch&qu... (show quote)



Feb 24, 2021 06:40:03   #
billnikon Loc: Pennsylvania/Ohio/Florida/Maui/Oregon/Vermont
 
Hanson wrote:
Any experience in the B&H Photo's PayBoo card? Is it a good idea to have/use one? What is the catch?


The catch is that it must be paid off in one month or credit charges will be added. The good news is that the PayBoo card will get you out of paying sales tax.
I also have their regular credit card that I can get up to 12 months no interest on more expensive purchases.

Feb 24, 2021 08:04:14   #
MadMikeOne Loc: Southern New Jersey Shore
 
Hanson wrote:
Any experience in the B&H Photo's PayBoo card? Is it a good idea to have/use one? What is the catch?


I've had mine and have been using it for about 2 years now. No "catch" for me so far. I pay off my credit card bills in full by the due date, so I do not incur interest charges which are quite high on the PayBoo card. Keep in mind that the card is issued by Synchrony Bank, NOT B&H. They have not been the easiest to work with when I have a question/problem. One potential "gotcha" that I have noticed is that there have been times when I've received my bill only about 10 days prior to the due date, and had to get the payment mailed right away to ensure that it would arrive by the due date. It's just a matter of knowing when your billing cycle ends, the approximate date the bill is mailed, and being mindful of the due date. So far, I've been very happy with my savings on my NJ sales tax. My advice to anyone living in a state that charges sales tax would be to just go for it, and decide for yourself.

 
 
Feb 24, 2021 10:59:51   #
BebuLamar
 
It's fine but if you don't pay in full within 1 month the interest is 29.99%.

Feb 24, 2021 11:19:17   #
Arizona Art
 
The drawback is the billing cycle is real short. Used the PayBoo card twice and got less than 14 days to pay it off. Also, be prepared to spend some time on the phone getting approved by syncrony bank. They are pretty thorough so they must have been burned a few times.

If you do get the card, sign up to manage the card online. That way you can monitor your balance, due dates and make payments all on line.

Feb 24, 2021 12:59:50   #
henryp Loc: New York, NY
 
ricardo00 wrote:
Have had it since they started. No "catch", use it, they credit you with the cost of sales tax (in California that is substantial) and I pay my credit card off each month.


Thank you, and the others here, who recommended the Payboo program.

Feb 24, 2021 23:45:57   #
nobler
 
It's real, it works, it's worth getting the card.

 
 
Feb 25, 2021 06:06:31   #
Peterfiore Loc: Eastern PA
 
However, the sales tax burden is left to you to pay your state. If you are in business it's a must-do. Actually, it's always a must-do.

Feb 25, 2021 07:07:29   #
BebuLamar
 
Peterfiore wrote:
However, the sales tax burden is left to you to pay your state. If you are in business it's a must-do. Actually, it's always a must-do.


Nobody said not paying state sales tax. It's either you pay or Payboo pays. Either way the state gets the money.

Feb 25, 2021 07:29:25   #
leftj Loc: Texas
 
Hanson wrote:
Any experience in the B&H Photo's PayBoo card? Is it a good idea to have/use one? What is the catch?


It saves you the tax but you have to pay it in full every month. If you don't pay it in full they charge you an exorbitant amount of interest. I use the PayBoo card because I don't like to pay my hard earned money for tax which the government then just fritters away.

Feb 25, 2021 07:31:32   #
leftj Loc: Texas
 
johngault007 wrote:
No catch I've seen so far. I use it and overpay the minimum balance well ahead of schedule (usually within 1 or 2 months). Just don't miss a payment and you won't be hammered with penalties.


So you are paying their high interest charge by not paying the balance each month. Seems like that defeats the purpose of the sales tax savings.

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