New BMW, a BMW Visa card and closed Juniper with Itunes! (Update: 4.14.08)

[Anonymous]

I have the post in automotive loans section but I just wanted to share my experience today.

Until Sunday, my Fico scores were Ex 636 EQ 690 TU 671. Final baddie, a car loan charge off dropped and my new scores as of last night, EX 636 EQ 760 TU 660. EX and TU have only a collection from Verizon, $149, that I am trying to PFD. After that no baddies of any kind.

So, I applied for a loan at BMW website after finding out my new scores and approved. I went to dealer to pick a car, after everything is done finance manager told me I was also approved for a BMW Visa and asked me if I wanted to accept it. Learning no AF and plenty of benefits for the new car, I decided to accept the card offer. I will not know the CL until after I receive the card in 2 weeks.

After I got home, I looked at my Juniper with itunes reward Visa card. It had only $500 CL and I talked to them 3 times nothing changed, so called the phone number and closed the account through their automated system, it took only 2 mitues to do that. Apparently low limit is a big complaint, so they have an option to close the card based on that. Card looked nice but it was worthless, I don't know why I ever applied for it anyway.

So, at the moment, I have a WAMU MC, Citi Premier Pass MC and a BMW Visa. I think I am all set. No more apping for anything, in 2 years all my inquiries will fall off and I am hoping to be in a better place.

Next, buying a house. I just have to get ready for that. If you have any tips about my future plan, feel free to share with me.

Again, thanks for your help fixing my credit. You guys rock.

Message Edited by tomwest on 04-14-2008 01:28 PM

[Anonymous]

So, if I get this straight, your score improved on Sunday (yesterday) and the very next day (today), you've already used your higher scores to get a brand new car?

Ummmmmm.....wow. That's certainly, uh....aggressive shopping!

By the way, you probably should have left the Juniper card open, unless it was very new, as it may have been helping the age of your accounts.

[Anonymous]

Juniper was 5 months old. Plus 90 days same as cash financing at Apple is valid only on the very first purchase. So I had no use for it, also, they keep payments for like 2-3 weeks after they take it from your bank account.

I had to hurry, because that 760 will not be there very long once Citi Premier Pass reports, probably tomorrow, that will go down. Plus 3.9% financing I didn't want to miss.

The way I looked at the issue was once I send another PFD letter for Verizon collection, they might put it on Equifax, too. I didn't want to take that chance. Now everything is set, signed and no turning back. Even my scores drop now, I don't care, because in two years or less they will be up again, since I will not app for anything until I buy a house.

[Creditaddict]

I just want to know what you got!? 

[MidnightVoice]

Hmm. 6 months after getting my scores to 760 I got a new Toyota Corolla for one third the price of your BMW

[Anonymous]

I got a BMW 328i with sports package. Drives great has everything except navigation which I don't need. I wanted to get 335i but they didn't have the color I wanted (Black on Black).

I know price is high but I already have a Honda Civic, and I wanted something I can keep well after I paid off the loan. I figured this is the perfect timing to buy a nice car. It's like meeting a famous person or a role model. Hey, but Corolla is not a bad car either, good price and good milage along with reliability. I hope you enjoy your car for a long time.

I'll keep you guys updated once I receive BMW Visa. I am curious what kind of CL and APR I got. I will probably pull my Fico last week of May and let you guys know how many points and inquiries my recents actions cost me. I believe I will be a good example for those thinking about getting the same/similar credit cards and loans.

Meanwhile, thanks for your support and please let me know if I can answer anything.

[Anonymous]

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tomwest wrote:
I got a BMW 328i with sports package. Drives great has everything except navigation which I don't need. I wanted to get 335i but they didn't have the color I wanted (Black on Black).

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Black on Black.  You'll be spending a lot of time washing it!!!  Many of my neighbors have BMWs, and they love their vehicles.  Enjoy your new car!!!

[Anonymous]

To the OP-

I also have the BMW Visa. They were ok on the CL ($15k) but bad interest rate. (14.24 at the time, now I believe it would be 11.99)

I have had the card for about a year and have called on several occasions to get the APR lowered and I am told that they give all customers the same rate across the board, and they don't lower it upon request. Just don't keep a balance on it and you should be fine.

Also, the rewards program isn't that great (1/2 point per $1, unless you buy gasoline) and the point have very low redemption values, but oh well, still a decent card.

[AnaMKMK]

I have a Juniper card too and had issues with them holding payments!!! Mine is my best points card, so I stopped charging to other cards, including my debit card and started using that, I didn't much care that the credit limit was $500 - figured i'd pay it off, ensuring the balance was low or $0 at reporting time and keep charging! WRONG...

I called and asked them what the deal was - I'd make a payment and it wouldn't post for 5-10 days... The rep said they do this to ensure the funds would clear and until I made a few more payments through their system it would continue doing this.

Keeping in mind I was making a payment about once every 7-12 days, by the 5th payment or so payments started hitting next business day or same day (not sure what the time cut off is).

On a side note, I haven't figured out how they report - they're certainly better than HSBC, and this may just be that i'm not paying close enough attention, I can never pinpoint when i had a particular balance the day it reports, because of that i've reduced my usage on that card... For instance, my payment would be due on the 25th, my statement would be dated the 5th. I've finally just left it at this: payments made between the 25th and 5th do nothing for your credit reporting!!!

In either case, I've since switched back to using my debit card unless timing is perfect - too bad I wanted the travel points!!!!!

[MidnightVoice]

I transfer money from my Bank account to juniper.  It always posts on the junny web site the next day, and I get an email telling me is has posted.  It reduced the outstanding balance at once.

Never had a problem at all