Is Samsung financing being discontinued?

[Bsands29]

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 

[userauHH2sNzNL]

Looks like Samsung is terminating their partnership with TD Bank for a good reason. Here is the link to the article about TD Bank: https://thehill.com/business/4927394-td-bank-fines-money-laundering/amp/
Looks like Samsung didn't do their homework on TD Bank and now have no choice but to find another bank to handle the financing program. I feel like Samsung will make an official announcement with a solution in January 🤞🏾

[joey52682]

Thanks for sharing this! I figured there was a good reason samsung would do this... other than just to screw all of us loyal customers!

[userauHH2sNzNL]

You're welcome.

[Members_UEIDh3G]

I do understand them terminating the partnership. This has been in the news for a while about TD Bank. The fact is that ultimately we all purchased a product from Samsung and Samsung recommended using TDB. For Samsung to wait until January (supposedly) to make a statement or send a notification to customers is unacceptable. TDB has stated the accounts would be closed on December 31st. Care+ plans cancelled if not moved to another payment option. So in my opinion only, Samsung is the company that truly needs to step up with some detailed information and steps for their customers to take. If they want to retain their loyal customers that is their only option at this point.

[userauHH2sNzNL]

I would agree. Samsung should've gotten ahead of this and now us as customers are left with a bunch of unanswered questions. We do have to keep in mind though that TD Bank was just used for the financing. That's why you still pay whatever debt you had with them for the services because they've already been paid for to Samsung by TD Bank on your behalf. From what I understand you will still have your Samsung Care coverage. They sent a notification out that the Care coverage will actually be getting better back in late October/early November. So they may be late explaining but haven't just left us hanging.

[HoneyWheatBread]

This sucks! I wonder what went wrong.

[Members_UEIDh3G]

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.

[uservHXW9ztn3v]

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.

[BlueNeon]

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.

[theeemann]

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.