B&H Refunds Sales Tax via New “Payboo” Credit Card

https://www.cpricewatc​h.com …a-new-payboo-credit-card/

I'm from NYC so this is something I'm interested in.

Who's signing up?

So that's what they're doing. I got the heads-up email from them yesterday. This would be useful for folks who spend a lot on camera and tech gear. You essentially don't absorb the sales tax, yet you are legally paying it. Win-win. I wonder if Adorama will do something similar to keep pace.

So you got to wonder who ends up paying? B&H eating the difference or is every customer paying a bit more for an item so that this can be offered to a few. I'm guessing the latter. Someone has to pay and I'm guessing it wont be B&H

So you’re paying full price plus sales tax and they give a reward credit on your new CC. Basically an in store credit on future purchases.

Heck, that’s Better then nothing and you still get all of B&H’s perks like free shipping and their 30 day return policy. Not bad.

Am I reading this correctly?

Smart move by B&H I'm sure Adorama will do the same. That will leave all other retailers out to dry. I'm also sure the 2% and 4% discounts will also go away.

i-G12 wrote in post #18857811
So you’re paying full price plus sales tax and they give a reward credit on your new CC. Basically an in store credit on future purchases.

Heck, that’s Better then nothing and you still get all of B&H’s perks like free shipping and their 30 day return policy. Not bad.

Am I reading this correctly?

Maybe I'll have to read it again but is it an in-store credit on the card? It sounded like the total sales tax will be charged to the credit card as normal, but then the same amount will be credited back on the card so you're only paying the item price. But maybe I read it wrong.

Seems like a good deal if you wanna pay full price for an item.

Ming-Tzu wrote in post #18858004
Maybe I'll have to read it again but is it an in-store credit on the card? It sounded like the total sales tax will be charged to the credit card as normal, but then the same amount will be credited back on the card so you're only paying the item price. But maybe I read it wrong.

Seems like a good deal if you wanna pay full price for an item.

Yep. After reading their FAQ’s (https://www.bhphotovid​eo.com …E8ACD2688014AFE​B73D8481EB) they’re gonna immediately credit your Payboo card for the amount of tax that they just charged you for.

Yes that is a good deal. I’m sure the Supreme Court ruling really screwed B & H and they’re fighting back albeit probably at a cost to their bottom line.

i-G12 wrote in post #18858012
Yep. After reading their FAQ’s (https://www.bhphotovid​eo.com …E8ACD2688014AFE​B73D8481EB) they’re gonna immediately credit your Payboo card for the amount of tax that they just charged you for.

Yes that is a good deal. I’m sure the Supreme Court ruling really screwed B & H and they’re fighting back albeit probably at a cost to their bottom line.

As mentioned in an earlier post, I guess whether or not it's a deal depends on if B&H increases item prices to offset the fact that they still have to pay state sales taxes. Can't imagine they would eat the total cost of the sales tax.

Ming-Tzu wrote in post #18858056
As mentioned in an earlier post, I guess whether or not it's a deal depends on if B&H increases item prices to offset the fact that they still have to pay state sales taxes. Can't imagine they would eat the total cost of the sales tax.

I don't see B&H doing that. People would then go to Amazon and or Adorama, etc. And if they have their way, they will always get you to buy more and more from the rewards. And lets not forget, its not like it's a huge discount. In most states is less than a 9% discount.

gossamer88 wrote in post #18858067
.... And lets not forget, its not like it's a huge discount. In most states is less than a 9% discount.

It's not that trivial. $252 for a 5DIV and $455 on a 1DX. Those are sizable discounts.

Just make sure to read all the footnotes and fine print stuff. The reward is not available / applicable in 32 states or for international destinations. Entire purchase must be paid for with the Payboo card, if partially funded in some other way the purchase is NOT eligible for any reward offer. APR is 29.99%. etc...

dixiedawn wrote in post #18858174
Just make sure to read all the footnotes and fine print stuff. The reward is not available / applicable in 32 states or for international destinations. Entire purchase must be paid for with the Payboo card, if partially funded in some other way the purchase is NOT eligible for any reward offer. APR is 29.99%. etc...

The APR is high. If the CC balance is paid off at one time, then it may be a good deal. But if monthly payments are made that APR will be costly. That's how BHP will make their money back.

Where did they get the name Payboo?

If you purchase promotional items the interest accrues from the date of the purchase. The fine print makes it possible for B&H to charge interest on all items except for those you pay full price for. How that is handled is up to the bank issuing the card, but the fine print protects them, not the purchaser.

Also consider your current CC terms. My Amazon card gives me 5% back on Amazon purchases, so if I buy a lens or camera through Amazon and pay the 6.25% sales tax for my state, then get 5% back, it really only costs me 1.25% over the listed price. As seldom as I buy cameras or big ticket items, it's not really worth the hassle of dealing with another CC. YMMV, though.

Same as my Target RedCard. I get 5% discount on everything I purchase. Far as I know, no limit.