Hello There, I receieved the BMW Platinum Visa Card in the mail today really cool looking card surprise me they gave me an intro rate of 3.9% for 6 mons and go to rate is 10.75% cash advance rate is 12.75% not bad for cash advance.. anyways at least I got this one instead of the Travelocity MC... Thx, Kev
12.75%? is low for a cash advance. Wow. The credit card people are nice guys. They can borrow money at 1% or less from the fed. an 11.75% spread not bad at all. Even 9.9 cards are high (if you carry a balance) considering we are at 30-40 year lows in interest rates. There are several cards at rock bottom interest if you carry a balance. I dont ,so I use my cards for rewards...
Borrowing from the Fed is NOT the way that banks obtain money to lend. The Fed "discount rate" applies to short-term loans made to banks with liquidity problems. The Fed tries to discourage such loans, and the amount of such loans is limited. Kevin, I'm thrilled with your card. I want one too! It looks great, the go-to rate is good, and that's a great cash advance rate for short-term liquidity problems. BTW, no APR could possibly satisfy the Superprime Snobs among us. But notice that after they deride any APR above 4.25%, they further boast that they don't ever need to use their superprime credit. How could they possibly benefit from that? Real people who actually use their credit can't afford to listen to credit hobbyists. Collecting credit cards just so you can dismiss other people's credit cards is a pretty pathetic hobby for people who claim to be so affluent themselves.
Congrats kev that card looks pretty sweet. I've thought about it before what cra do they pull and how many inqs did you have.
Hello There, Thank You all I am very happy that I got this card, the credit analyst I talked to told me that this is a very hard card to get... the rep did not tell me about the requirements but is not easy to get... they are very picky anyways I applied for both the travelocity mc and the bmw platinum visa card a day apart they both pull exp on me.. I had like 8 inqs before the two apps last six months.. score is like 735 according to credit expert.. no derogs... lates.. hope this helps yes get this card their customer service is really nice people to talk to.. I call just to find out about new account info such as the due date of the account and the rep is really nice and warm in welcoming me to bmw! if you apply with them Good Luck is a very good looking card it does not say Platinum on the card just says bmw card but it has the bmw logo nice and big... the card came witht the Platinum Card benefits guide... they also have a ultimate card which I hope to get over time! hope this helps.... Thx, Kev
Hello Danny, Yes the link for the application is at http://www.bmwusa.com/welcome.cfm?page=&bottom=0 Good Luck if you are going to apply with them Best Regards, Kev
kevin, Congradulations for your bmw Platinum Visa. Did they call you while they processed your application?I'm sure it is tough to get like Nordstrom Visa and it is good looking card (I saw on the website). I didn't hear anything on the Fleet Titanium Visa from them. I keep you post it. Ron.
Hello Ron, Yes a rep call me to verify info a day before they approve my app.... I am happy and yes is a very good looking card... is kind of a dark metallic silver with the bmw logo in the middle on the top right corner it saids bmw card no platinum anywhere on the card but that is fine... it is a platinum card though... the rates are really good... they gave me a 3.9% intro for six months and then go to rate of 10.75% their cash advance rate is very low compare to some other banks 12.75% yeah this is going to be a card I will use on a everyday basis lol... and good luck and keep me posted on the Fleet Titanium Card is a sharp looking metallic green card.... Thx, Kev
kevin, I keep youm post it on my Fleet Titanium Card. Everbank give me both purchases and cash advances for 8.74%. I applied for the card about a year ago and I heard it is tough to get. They need 5 yrs or more credit history for them to approve . Ron.
It sounds like a cool looking card. I might like to get one. What kind of CL do they usually give? Are they more like MBNA & Citi in terms of limits or more on the Capital ONe side? I.e., good limits or toy limits?
Hello Ron, Okay cool please let me know about the Fleet Titanium Card app okay... I know you will get it.. yeah I saw the everbank awhile back but did'nt apply for it cool Congrats on getting that card! Hello Luxuryforme, Yeah they gave me a $3500 cr line so yeah I guess is better then the sub-prime cards... they are prime though cause the interest rate is 3.9% for 6 mons and the go to rate is 10.75% for purchases... 12.75% for cash advances... their customer service reps are very nice and friendly so hope this helps... Thx, Kev
kevin, I applied for one because it has the lowest rate about a year ago and I got the old term (8.40% apr for purchases and later they gave me 8.40% for cash advances). I keep it because Imay buy something and owe on the card. It has no rewards for the card that I have and they have air travel rewards (need $39.00 annual fee). Ron.
Hello Ron, Wow that is a really good rate for both purchases and advances.... 8.4% my lowest right now is the national city platinum visa card.. 8.74% for purchases... cash advance is kind of high though... anyways any word on Fleet yet..... Thx, Kev
kevin, A couple of days ago I checked on the Everbank Bank Platinum Visa terms and they changed their terms. Now they give you either 9.9% or 12.9% APR for purchases base on your credit history and I hope that they didn't change my term. I think that I still have their old terms 8.40% for both purchases and cash advances as of your my last statement. My lowest apr is 7.24% var Netscapecard from Citibank USA. Ron.
