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Established Contributor
Posts: 678
Registered: ‎10-02-2007
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BMW Visa

 

BMW gave me an auto loan for 31k.  I pay 531 per month as my payment and I am on time.  In the next month or so I will pay down the car loan by giving them a lump sum of 5k.

 

Since they gave me a car loan, do you think they will give me a Visa card?

 

Quick summary

 

4.5 yr BK

Zero debt

8inq

690 my fico score

 

 

Thanks

Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: BMW Visa


Andy77 wrote:

 

BMW gave me an auto loan for 31k.  I pay 531 per month as my payment and I am on time.  In the next month or so I will pay down the car loan by giving them a lump sum of 5k.

 

Since they gave me a car loan, do you think they will give me a Visa card?

 

Quick summary

 

4.5 yr BK

Zero debt

8inq

690 my fico score

 

 

Thanks


really too hard to tell simply based upon your approval for auto loan.

 

A car loan is very different from a credit card, only because 1 is a secured lien with your car being collateral, while a credit card is essentially an unsecured revolving line of credit where the lender has last dips in the event of a default.

 

Try checking whogavemecredit, and google "credit pulls database" to see scores of individuals who were approved / denied.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
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Registered: ‎09-13-2012
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Contributor
Posts: 84
Registered: ‎06-17-2012
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Re: BMW Visa

Hi Andy,

 

I lease a car through BMW Financial and was told the BMW cards are through a different group.

 

They ran EX (dealer and BMW) twice and I didn't want another pull for the card so I didn't do it. 


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Established Contributor
Posts: 678
Registered: ‎10-02-2007
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Re: BMW Visa

[ Edited ]

 

 

Well I called back to see if there was an update to my application...still pending from 2/25/14

Rep said a letter was sent.

 

I can't wait to see what it might be.  I highly doubt they are asking me for pay stubs as I did lease one BMW with them and financed another with them.

 

Maybe they want a written notice as to why I filed my BK in 2009..just a guess

 

Guess I will find out what the letter says in a day or so...

Established Contributor
Posts: 678
Registered: ‎10-02-2007
0

Re: BMW Visa..Declined..

 

 

Well got the letter in the mail today.  Declined.  No reason...just said I can write in if I want one.

 

So, I was like why not...so I saw a fax number on the bottom of the letter...asked for a re-decision of my application based on my perfect payment history on two cars with them from 2004 to 2014.

 

Will see what happens..probably nothing...

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