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BMW Credit Cards

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Anonymous
Not applicable

BMW Credit Cards

I wanted to share my experience in applying for the BMW credit card. I will start by saying my Fico scores are in the mid 700 range and I don't have a credit card that has a limit under $10k, have no lates and 0% util on 200k avail credit. I applied for the card and was told to call back within 24 hours for the status. I called back 24 hours later and was told my account was approved and I should receive the card within 7 days. I asked for the CL and it was $2500. I asked for a CLI and was told to try upon activation. I got the card, used it for 1 dinner and called the next morning for a CLI. I was told they would have to have a finance manager review, they would do a soft pull and I could call back 24 hours later. 24 hours later I called to inquire on the CLI request and was told it was denied. I explained on both calls that $2500 was not enough for business travel etc so I won't really be able to use their card. They gave me no explanation as to why it was declined and said to use their card for a while.

 

24 hours after I was told the CLI was declined, I received an alert from Experian notifying me they did another hard pull the day after they told me I was declined.

 

I immediately called back and got a very rude rep who said if I would have spoke to you I would have told you we don't do CLI's until your account is 6 months old. Every time I tried to speak she spoke over me and cut me off every single time. I said I wanted to speak to a supervisor, wanted the hard inquiry removed and wanted to close the account.

 

The supervisor comes on after many requests and I explained the rep was very argumentative, blaming me for requesting a CLI and stated they always do hard pulls and a supervisor won't help you.

 

Long story short, supervisor said they would review the call recording to see if the rep did indeed say the CLI request would result in a soft pull and see what they could do to remove the inquiry.

 

I explained I have leased multiple cars with BMW (Have X6M now) and I was shocked at this division's unprofessionalism and rudeness. I wanted to use the card at BMW and to rack up some points for the next BMW but they have got to be the worst bank I have ever dealt with. I would stay away from BMW National Bank and I will not be buying another BMW in the future. Dealing with their credit card group will get your blood boiling, they are aweful. You will get better service anywhere else.

Message 1 of 26
25 REPLIES 25
live-n-learn
Contributor

Re: BMW Credit Cards

Wow.....  I am speechless.

My FICO - As of 07/2018
Equifax 730
Transunion 732
Experian 743
Message 2 of 26
Ron1
Super Contributor

Re: BMW Credit Cards

Sorry to hear!!! I heard they are very conservative. I heard people got approved CC with the auto loan.

Ron.
Message 3 of 26
Anonymous
Not applicable

Re: BMW Credit Cards

The ultimate driving machine!!!!!
Message 4 of 26
elim
Senior Contributor

Re: BMW Credit Cards

Aren't those X6M's near 100k?  It seems they aren't keeping their limits in line with their clients income.  Maybe Cap1 should take over the card, lol. They will happily give you a 50k limit.

Message 5 of 26
happypill
Valued Contributor

Re: BMW Credit Cards

Didn't even know they had their own line of cards.  Maybe they should stick to selling cars.

Message 6 of 26
Anonymous
Not applicable

Re: BMW Credit Cards

Yep, it's just a funny looking SUV on steroids but fun. I thought they had a long history in banking but apparently they do not want credit card holders so they should just exit that business. You can get much better rewards using DC, Cash+ etc and apply those savings to a car. Their is really no reason to get a BMW card unless you use it for service where the rewards are best. They offer 3 different cards at mybmwcard.com but you must call to apply.

Message 7 of 26
Anonymous
Not applicable

Re: BMW Credit Cards

That sucks. I would have wanted you to have the one that is by invitation only. The points are worth 1.5 times as much as the other cards.  Would be easy way to get 7.5% back at the dealer.

 

Now wait a minute here.... is this right?  You could theoretically buy the new car with this (if your limit was enough, fine, do a balance transfer from another 0% card or pay from checking).... then you would get 7.5% back.

 

Wonder how easy the travel rewards are to be redeemed?

Message 8 of 26
Anonymous
Not applicable

Re: BMW Credit Cards

Wow! It's their loss OP. With the price of their vehicles, I would expect top notch service from every division of BMW.

Message 9 of 26
bk510
Valued Contributor

Re: BMW Credit Cards


@Anonymous wrote:
The ultimate driving machine!!!!!

Sounds more like ultimate pulling machine.....lol

 

Sorry to hear that OP....

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Message 10 of 26
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