This Store Credit Card Has a Unique & Potentially Lucrative New Benefit
Store credit cards are sometimes a good option to have in your wallet. The Sears card for example often has awesome spending bonuses and we post those often here. But a new card from B&H is offering a unique benefit for cardholders.
B&H is a store that sells a wide variety of electronics. Previously they only charged tax in Ny but now they collect sales tax in many states. That adds a substantial amount to the price, especially in high tax states. In NYC for example you pay a tax of 8.875%.
And that’s where the new B&H Payboo Card, issued by Synchrony Bank, comes in. It will save you the equivalent to the sales tax you pay on every purchase shipped to eligible states.
Offer is valid on all NYC SuperStore purchases and online and by-phone orders based on customer’s ship-to address. It’s also subject to state eligibility.
You can apply for the card here.
Key Terms
- Entire purchase must be made with the B&H Payboo Card to qualify for this offer.
- If a portion of the purchase is paid for with another form of payment (e.g., cash, another credit card, or a gift card), it will not be eligible for this offer.
- Changing shipping address at checkout may alter the B&H Payboo Card loyalty reward value.
- This loyalty reward offer does not apply to gift cards or other tax exempt purchases.
Conclusion
This is not a card for everyone. If you don’t pay sales tax or somewhere up to 2% or so, then the card is useless. But for those who pay over 4-5% in tax, it could be a good option to have, if B&H is a place where you shop often. Another positive aspect is that the card is issued by Synchrony Bank, which is not as sensitive as other major issuers.
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As you indicated, this card has good value if you live in a high sales tax state like me (California). It’s a win for B&H, Synchrony Bank, and the smart consumer. I say “smart” only if you’re the type of person that pays his entire monthly card bill on time. B&H enjoys high consumer reviews and sells new and genuine product. (Ever get a phony SanDisk card on eBay or Amazon? This will never happen with B&H.) They have enjoyed customer loyalty from photo enthusiasts for decades. They also sell computers, tv’s, surveillance equipment, watches, printers and more. I was a little skeptical about how all this save the tax thing worked but it’s actually a promotional coupon that equals the tax immediately deducted from your total order – no gimmicks. It’s issued immediate with your order. I’ve been using my card for less than two months and already saved over $200. Stores like Best Buy and others were probably licking their chops over the Supreme Court’s ruling last year, so I applaud B&H for being creative and keeping their long-time customers. But if you pay a penny less that the entire monthly balance on time, you will enter monthly interest hell! It’s not a card for everyone. I’m also wondering if Synchrony Bank is a sub-prime lender, because the average of my three credit scores dropped from over 800 to 770 when I got the card! Ouch! Fortunately, it’s back on the rise.