BMW Credit Card Application *Update Approved $2500*

[B335is]

This weekend I finalized a lease for a new vehicle, so I asked about the credit card and using the same credit pull. The finance manager had me sign the acceptance form. Is this pretty standard for anyone else that applied?

Update:  Approved for $2500 after verification

[waynes1982]

Expect another HP from them.  I had purchased a 2015 X5 in November 2014, and it took them almost a month and a half to process the application and open the account with a tiny $1k limit.  I've since gotten it to $5k, and then just recently to $10k, all with hard pulls and this last one they wanted income verification and I even had to send them income and proof of identity back in November 2014! Good luck though!!!! I'm also always getting balance transfers from them, and they just recently upgraded my account to the Visa Signature card too and waived the $75 fee.

[Anonymous]

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@B335is wrote:
This weekend I finalized a lease for a new vehicle, so I asked about the credit card and using the same credit pull. The finance manager had me sign the acceptance form. Is this pretty standard for anyone else that applied?

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i've heard of this but I applied online and they hard pulled Experian.  It took about a month to get the account as I had to send verfication documents.  The dealership probably has your info and verification of identity and address so it sounds like you are good to go. They approved 15k, no verification of income was requested.

[B335is]

Thanks for the info. They gave me the credit card acceptance form. I just signed it. I read on the bottom of the form under dealer instructions "present the form to the customer once approval from infobahn". So wasn't sure if getting the form itself indicated actual approval.

[Anonymous]

I've never heard of the BMW credit card. What perks or rewards do you get with this card?

[B335is]

It's like $1=1 point outside BMW purchases then 3 points for BMW purchases. There's three different versions of the card though.

[Anonymous]

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@B335is wrote:
This weekend I finalized a lease for a new vehicle, so I asked about the credit card and using the same credit pull. The finance manager had me sign the acceptance form. Is this pretty standard for anyone else that applied?

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@B335is wrote:
This weekend I finalized a lease for a new vehicle, so I asked about the credit card and using the same credit pull. The finance manager had me sign the acceptance form. Is this pretty standard for anyone else that applied?

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The finance manager applied without me asking when I leased my X4 in December 2015...... It most definitely is another hard pull on ur Ex report. I had to call in a eek later to find out my limit........... It took almost a month for me to receive my card.... $2500 SL with my EX 651

[B335is]

Thanks for the info! I was looking over the acceptance form and it does indeed say it will be another HP. He shared my scores and they're all around 690. It's interesting that he didn't initially see my previous BMW credit lease until I started talking about how I missed my 335is. Then the whole transaction changed. They ordered the car detailed for me to take immediately. I guess BMW really appreciates prior (good) relationships.

[RonM21]

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@Anonymous wrote:

I've never heard of the BMW credit card. What perks or rewards do you get with this card?

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+1

Me either

[MauiMan85297]

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@B335is wrote:
Thanks for the info! I was looking over the acceptance form and it does indeed say it will be another HP. He shared my scores and they're all around 690. It's interesting that he didn't initially see my previous BMW credit lease until I started talking about how I missed my 335is. Then the whole transaction changed. They ordered the car detailed for me to take immediately. I guess BMW really appreciates prior (good) relationships.

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BMW Financial was always awesome to me with my leases.  I also worked for BMW for 5 years, my last position was lease manager and when the industry took a tumble and I had a lot of clients coming back for their next lease with very damaged credit scores but on the consumers credit reports showed they paid BMW good and on time and 95% of them were getting approved even with scores in the 5's.