I received an email, saying that TD Bank and Samsung are ending their partnership. Did anyone else receive this email. I called to confirm this with TD Bank cs. They will be closing my and other user accounts. I'm upset I have 6 yrs of credit history being erased
Thank you for posting. Apparently email bill only customers didn’t get a notice? Or maybe mine was lost in the mail. Either way this was more information than the email I received from them contained.
4200 in available credit for 5+ yrs getting stripped away and taking a major hit to my credit report. Thinking I should have my lawyers file a suit against Samsung and TD Bank.
Crazy how samsung is forcing thousands of people to take a credit tank due to losing several years of credit history. And it's directly going to impact their most loyal customers.
Edit: after reading a bit into the article someone in the comments posted about. Seems like samsung was caught in making a tough decision. However, still not announcing and being upfront about what this means (ending your line of credit) is shooting them in the foot way harder than it would have been if they had an actual solution other than just being like too bad. Life tells you that enough.
This will hit our credit report because we are losing that credit limit, so for example I have a complete total credit limit of 120k and Samsung TD Bank is 8k of the 120k so that will bring me to 112k total credit so your score can go down 3points or more. That sucks. Next time I will not sign up I will just use affirm.
From what I understand the line of credit stays open with TD to pay off what you still have. But you cannot make new purchases. I am currently in an argument with several different Samsung agents since TD in the mailer and on their website says I can make a purchase up until December 31st but won't let me make a purchase today. Each person is like sorry the financing is Affirm now and you have to apply and be approved for it. I was like no I have a credit line then they said it's no longer active then said to talk to order support. Order support said talk to TD it's a constant run around just to make a single purchase. Their site still lists Samsung Financing as an option if it's not available take it off the website as an option and remove the price point of paying over 24 months since that is not an option anymore.
TD Bank is a nightmare to deal with - good riddance to them! A couple of months ago, I was late on a payment to my Samsung account. Long story short, I mailed the payment and they never got it. The day after the due date, someone kept calling me daily (phone would ring, I would answer, nobody was on the other end). Frustrated, after the third call, I called the number back, only to figure out it was from TD Bank Retail Services. Talking to them, they wanted immediate payment and threatened me with collections before I could even figure out what was going on - I wanted to contact my bank first to see if they or someone else had cashed the check! Keep in mind, my payment was only "late" - it was not "30 days past due" which would open up a whole other process. I did electronically send them payment on the 5th day after the due date, and they did agree to drop the late fee after I complained, but the whole process of dealing with TD Bank was aggressive.
