BMW Credit Card

[leasehackr]

I signed my lease papers few weeks ago and yesterday I got BMW Visa Credit card in the mail.

I don't recall signing up for any BMW Credit card during my lease application.
I also saw credit check on my credit history from BMW Bank for the same day when I signed the lease papers.

Did dealer intentionally signed me up for BMW Credit Card?

Thanks

[opasha]

Originally Posted by abhiku

I signed my lease papers few weeks ago and yesterday I got BMW Visa Credit card in the mail.

I don't recall signing up for any BMW Credit card during my lease application.
I also saw credit check on my credit history from BMW Bank for the same day when I signed the lease papers.

Did dealer intentionally signed me up for BMW Credit Card?

Thanks

I got no such credit card. I would contact your dealer and ask about it.

[pdawg]

If it isn't a preloaded cash card, I'd be pissed

[42pilot]

Originally Posted by pdawg

If it isn't a preloaded cash card, I'd be pissed

Completely agree.

[hyde]

Originally Posted by abhiku

I signed my lease papers few weeks ago and yesterday I got BMW Visa Credit card in the mail.

I don't recall signing up for any BMW Credit card during my lease application.
I also saw credit check on my credit history from BMW Bank for the same day when I signed the lease papers.

Did dealer intentionally signed me up for BMW Credit Card?

Thanks

He almost made me sign up for this saying that I am already pre-approved and that I should take advantage of it, the paper was already prepared for me to sign inside the little package they prepared, and they usually casually slip it in there. "Here is our bank, here is what you agree to when you get a vehicle, here is saying you will return the car at the end of lease or have option to buy, here is bmw credit card, here is the insurance related papers..." I declined to offer and told them I don't want BMW credit card.

[retx]

Just curious. What benefits can you get from that card? Is it the exclusive card like BMW pure impulse card?

[hyde]

Originally Posted by retx

Just curious. What benefits can you get from that card? Is it the exclusive card like BMW pure impulse card?

The CA did not explain anything at all, and the dude in that little room that they get you to sign the papers did not have much info himself anyway, he just wanted to push the card, but there is some info here:

http://www.bmwmotorcycles.com/us/en/...html&notrack=1

https://www.bmwgroupfs.com/BMWBank/ccapplication.aspx

I have no idea what they mean by " * Excess wear and use charges on your BMW FS lease"

Above seems to apply to Visa Platinum, which isn't listed on their main page:

http://www.bmwusa.com/Standard/Conte...reditCard.aspx

[Barbja]

I've gotten offers for those BMW CCs in the mail before. You can read about them online; just google search for BMW credit card.

I recall that its a Visa Signature card (at least the offer I received) which has many of its own benefits. You can eventually earn some money off your next car. However, the benefits are nowhere near the ones of many cash back cards such as the Capital One Venture (also a VS) or the AmEx blue cash cards. I have a normal old Costco AmEx and even the bonus yield on that is better.

[FastMarkA]

My last two experiences in the "torture chamber" (aka finance office) have included an offer for this CC.

The "you're already approved based on the credit check for the lease" line is fed to me.

Apparently you can earn points to buy BMWs and BMW stuff. I don't think it's a great deal; I'll keep my AMEX points and use them on a variety of things.

I would be pissed if they signed you up without telling you first. In fact, I think that's called....oh what's the word....ILLEGAL?!

[hyde]

Originally Posted by FastMarkA

Apparently you can earn points to buy BMWs and BMW stuff. I don't think it's a great deal; I'll keep my AMEX points and use them on a variety of things.

!

Yes, most of the time reward value is well below the points you spend on them. I'd rather use a different card and get cash back or get miles (although I stopped using mile cards since most airlines, especially Delta with SkyMiles went totally insane with their points, 30,000miles for trip to west coast?). Currently Chase Freedom, Citi Ultimate and Amex are the best values with cash back ranging from %1 to %5 but I love Amex Offers, just picked up couple of things at NewEgg and got $25 and I bought a camera at Sony for $200 and got $25 back there as well.

[leasehackr]

Originally Posted by hyde

He almost made me sign up for this saying that I am already pre-approved and that I should take advantage of it, the paper was already prepared for me to sign inside the little package they prepared, and they usually casually slip it in there. "Here is our bank, here is what you agree to when you get a vehicle, here is saying you will return the car at the end of lease or have option to buy, here is bmw credit card, here is the insurance related papers..." I declined to offer and told them I don't want BMW credit card.

I guess that's what happen at WW BMW. He never told me about credit card I'm going to sign. I never liked that finance guy anyways.

I don't know if anything can be done for credit check that was from BMW bank in addition to credit check from BMWFS. I can certainly cancel the card but its not going to delete credit check from my credit file.

[Hang0ver]

Originally Posted by abhiku

I guess that's what happen at WW BMW. He never told me about credit card I'm going to sign. I never liked that finance guy anyways.

I don't know if anything can be done for credit check that was from BMW bank in addition to credit check from BMWFS. I can certainly cancel the card but its not going to delete credit check from my credit file.

unless you sign 2 credit check application forms, i don't think they can make multiple checks with one application.

You can go ahead and cancel and it would be a little affect on your history based on the available balance.

[NoPII]

Originally Posted by Hang0ver

unless you sign 2 credit check application forms, i don't think they can make multiple checks with one application.

You can go ahead and cancel and it would be a little affect on your history based on the available balance.

At this point, you've taken the credit ding, so keep the card to offset that (your available credit has gone up).

I fell for this once before too "You're all approved" etc etc. The dealer checks another box during the electronic application and you get TWO credit searches. I wasn't told that either.

Needless to say, I don't work with that dealer any more ;p

[leasehackr]

Originally Posted by alistairg

At this point, you've taken the credit ding, so keep the card to offset that (your available credit has gone up).

I fell for this once before too "You're all approved" etc etc. The dealer checks another box during the electronic application and you get TWO credit searches. I wasn't told that either.

Needless to say, I don't work with that dealer any more ;p

Yes, I only filled BMWFS credit application.
I will complaint to BMW about this shady practice. I still have to complete their CSI review.