kscarrol

No, I don't think they'd refuse a CC for a repair. They have much higher margins on repair work, so the 1-2% CC fee doesn't have the impact that it does on the relatively thin new car purchase margins.

das

No, I don't think they'd refuse a CC for a repair. They have much higher margins on repair work, so the 1-2% CC fee doesn't have the impact that it does on the relatively thin new car purchase margins.
[/quote]

Agreed. And, there are a lot of factors we don't know here.

First of all, many card servicers don't let you charge, for example, a certain large percentage of your limit in one purchase as a matter of policy.

Some don't like to let you make down payments on goods with liens, or goods that typically have liens, whether yours in particular ultimately will or not (home mortgages, new vehicles, and so on).

There may be a conflict issue using a BMW credit card to put a down payment on a BMW vehicle.

BMW may not want its dealer network to pay credit card processing fees on a large amount. Indeed, the dealer itself may not want that.

So yeah, it's "ironic" and all that you can't use your BMW credit card to put a down payment on a BMW vehicle, but I don't find it at all troubling or surprising.

And lastly, no, they wouldn't refuse your BMW credit card for service, parts, or any other non-vehicle purchase.

allenman

You guys are missing one important point...
My guess (and that's all, lawyer in me talking), is that you haven't considered that your credit situation is going to take a meaningful jump when you place $8ish thousand unsecured dollars on a credit card. The issuer of the card may think you are $10ish thousand dollars credit worthy, but you will immediately change your situation--and your beacon score--by placing $8 thousand unsecured dollars on your credit card. I know, you were going to pay it off immediately. But of course, they can't be guaranteed that. As far as they are concerned, you were about to take on another $250 a month or so in credit card obligations. If you put it on another card, the charge probably won't show upon your bureau report until the next time it is run. Of course, since it was your BMW FS card, they were going to know immediately.
And keep in mind, that holding a card gives you no immediate rights to charge whatever you want whenever you want. Your contract most likely says that all charges are at the discretion of the issuer.
Just my .02, which is what it's worth.

santiago fonseca

Good point. I'm sure it had to be because of the BMW card's policies. I've had my VISA with the same credit union since 1976 and for the last 8 or so years I've never carried a balance to the next month (they don't make a penny on me), but I can still charge 10K at a pop. I reserved my 550i with that card (6K) and it was approved on the spot - both by the CU and the dealership.

ky_soldier

new twist -

got a call from BMW Bank apologizing for the incedent and asking if I would still ike to make the transaction. I told them I already put the down payment on my USAA card, and they offered to give me the points I would have received with the charge if I kept my account opened.

I asked for a set of floor mats (as suggested) or something more than just the points for the aggravation and delay of my order. She said she could not but would ask her boss and get back to me.

Will let you know when I get word. As far as I am concerned, 1/2% is barely enough incentive to keep a card, esp when others are much higher (like my citibank rewards card, 5% on gas, prescriptions and food - walmart included, and 1% on other purchases; only drawback is $300/year cap on rewards). If they take care of me, I'll keep it, if not, there are plenty of other banks that want my business.

regards.....Eric

ky_soldier

I am happy to say that BMW bank called back tonight and after speaking to her mgt, they are able to give me 25000 points, ie enough to get a set of floormats for the M5 if I keep te card. Sounds fair to me. I will let you know when they actually show up in my account. Thanks for the advice.

subarashi

Here's a thought and one that I know has worked when I bought my 05 545i...

1. Plan to use your CC because you want the points and/or the rewards and lower interest promo that may be going on;
2. PREPAY your CC with the amount you want to charge [so let's say you want o put down 20K - transfer that over to your card so you have that positive balance in your a/c already]
3. BUY your car via the dealer as long as they take the CC.

This has several advantages:
1. You get the extra bling bling by the use of your credit card. I used a AMEX for my car, got a free roundrtip continental US ticket in the process;
2. The CC company can NEVER deny you the use [your money is ALREADY with them]

BE SURE YOUR DEALER WILL TAKE THE CHARGE ON YOUR CARD THOUGH. My dealer never had a problem with it and were perfectly happy to do it over the phone as a matter of fact.....