Nikon Bread Pay

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AlecD

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So, I noticed this offer through Nikon that pops up every now and then and I was just curious if there were any caveats or stipulations associated with 12/24 month 0% APR financing through them? My only experience with something like this is with PayPal credit's "no interest if paid in 6 months" deal where it's pretty much face value. I was wondering if it's similar to PayPal in how they operate or do you get a heavy penalty for missing a monthly payment or something. I am interested in the Z6 III and I can pay in full, but I definitely don't want to take up an offer with some heavy stipulations and risks attached
 
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Check out this thread

Bread Pay

Nikon just came out with 0% interest with bread pay. Looking to jump to a Z8. I've tried it twice and the say they have no plans for me try again later. My credit score is 800+. Does anyone know how this works I'd like to take advantage of the 0% interest. Thanks in advance.
bcgforums.com bcgforums.com
 
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It is how I bought my Z8 and Z 24-120 in February. You sign up, they run a credit check and then tell you what they are willing to offer in terms of rates, time to pay and credit limit. For me it was a very easy process. But beware, if you miss a payment or are late, you are hosed. Best way to avoid that is once the transaction is completed, set up auto pay for the monthly payment and just let it happen (and make sure you have the case in your bank account).
 
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Ditto what Ron said.

It's how I've bought the last couple of larger Nikon items and how I plan on buying new items in the future. No need to tie up my cash...just put it on autopay.
 
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Just remember that companies are not planning on losing money. Thus they are expecting to make money on fees or interest payments in case you are late. Or buy "insurance" in case you laid off. So be very carefullly and make sure you payments are on time, ...
 
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Nikon financing is through Bread Financial a subsidiary of Comenity Bank. I've taken advantage of several offers through the Nikon 0% plan offers for several purchases. I have it set to autopay and it's painless. Bread sends a notification text several days before the payment due date advising that the payment will be deducted from your account on the due date. It's all a matter of personal preference, but in my view, I see no good reason not to take full advantage of the interest free option.
 
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I have been approved in the past but did not use it. I did not see anything unusual in the fine print other than needing to always pay on time and before the interest free period ended.

That was back when my high yield on line savings was making well under 1% so made more $ using B&H Payboo and saving 6% on sales tax and paid it off before due date on first invoice to avoid interest. Now it would be a tougher decision on a big $ item since my savings account I use to park $ that are instantly transferable to my checking is making closer to 5% most of the time.
 
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Buyer Beware..

"The US Federal Depository Insurance Corporation has punished Comenity Bank of Wilmington in Delaware and Comenity Capital Bank of Salt Lake City in Utah for deceptive practices related to the marketing and servicing of credit card "add-on products," in breach of s5 Federal Trade Commission Act."

They have an extremely bad reputation...Im pretty well shocked B&H, Nikon. Ikea and tons more, use them knowing they are screwing their customers in the long run....I would much rather pay the sales tax then deal with that headache...
 
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BarryR said:
Buyer Beware..

"The US Federal Depository Insurance Corporation has punished Comenity Bank of Wilmington in Delaware and Comenity Capital Bank of Salt Lake City in Utah for deceptive practices related to the marketing and servicing of credit card "add-on products," in breach of s5 Federal Trade Commission Act."

They have an extremely bad reputation...Im pretty well shocked B&H, Nikon. Ikea and tons more, use them knowing they are screwing their customers in the long run....I would much rather pay the sales tax then deal with that headache...
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I have had to deal with Comenity with William's Sonoma and now B&H and they are a pain. Their online account processing is always odd and confusing, since I ignore the add-on products from all credit card companies I have not run into that but would not be a surprise. That is why I really watch things with them like a hawk and make payments or pay offs well in advance. At least with payboo I just pay the statement balance in whole and well in advance of the date it is due. I have found other alternatives to B&H when they went with this new Payboo via Comenity, then the entity I was using started charging sales tax. You got me thinking about why I moved away from B&H for quite a while. I have one last item on order and one on backorder at B&H and then I may go away again unless I can not get something anywhere else.
 
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I used them once to buy something from Nikon, they screwed up the automated payment (as in their website had an error failed to process the card and just gave up) and could never restart it no matter how many times I called them.
 
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Ken Miracle said:
I have had to deal with Comenity with William's Sonoma and now B&H and they are a pain. Their online account processing is always odd and confusing, since I ignore the add-on products from all credit card companies I have not run into that but would not be a surprise. That is why I really watch things with them like a hawk and make payments or pay offs well in advance. At least with payboo I just pay the statement balance in whole and well in advance of the date it is due. I have found other alternatives to B&H when they went with this new Payboo via Comenity, then the entity I was using started charging sales tax. You got me thinking about why I moved away from B&H for quite a while. I have one last item on order and one on backorder at B&H and then I may go away again unless I can not get something anywhere else.
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I agree you need to be extra careful with Commenity Ditto on paying ahead though I have set up auto pay. At least they are not as bad as Bank of America. W/ BofA if I have auto pay set and then pay in advance, they withdrawal the full amount via Auto so I end up double paying or paying in advance. Annoying so I seldom pay in advance - just let auto pay do the payment for me.

Regarding B&H Payboo, the bank is giving some of us a very sweet deal (paying our sales tax, not sure if B&H pays part or all the sales tax) so they need to make money elsewhere, otherwise the perk would not be work for them.
 
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RichF said:
I agree you need to be extra careful with Commenity Ditto on paying ahead though I have set up auto pay. At least they are not as bad as Bank of America. W/ BofA if I have auto pay set and then pay in advance, they withdrawal the full amount via Auto so I end up double paying or paying in advance. Annoying so I seldom pay in advance - just let auto pay do the payment for me.

Regarding B&H Payboo, the bank is giving some of us a very sweet deal (paying our sales tax, not sure if B&H pays part or all the sales tax) so they need to make money elsewhere, otherwise the perk would not be work for them.
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All card servicers root for people to not pay off their balances each month before the deadline so they start incurring interest costs the big bucks for them :) I guess they really do not like me ... LOL
 
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I purchased a Nikon Z8, 24-70/2.8S and MC105/2.8S lenses At Zero Percent Interest, made sense to me.
It was a seamless process.
Set up new checking account for auto pay, keep it funded, payment is withdrawn monthly. So far no issues/
 
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I bought my Z8/105mm/50mm using breadpay. If I can use other people’s money to buy stuff and make money on my cash, it is a no-brainer.

The experience was pretty easy with one exception: I set up my autopay option to debit from my brokerage account. For some reason, breadpay doesn’t work in that scenario and the autopay failed. I was able to contact them via phone and they had no idea why it wouldn’t work. Thankfully, I was able to substitute ACH information with debit card info and the payment worked fine.

To breadpay’s credit, I give them props for 1) answering the phone in a reasonable amount of time and 2) providing sufficient notice via email that my payment failed.
 
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When you are allowing somebody withdrawal funds out of your account, it is best to have a zero balance account. You just keep enough money in there to pay whatever is required. That way if somehow in advertently they might be withdrawn has another zero but behind it, it won't affect and won't harm you. Because you just keep enough money in there to cover the withdrawal. I hope this makes sense.
 
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