[Brunotheboxer]

Anybody have and use this card? How is it and how does the rewards program compare to other cards? I'm thinking about getting it and would appreciate your comments, bad or good.

[larryn]

I use the BMWCCA platinum Visa card. All my benefits go to the CCA, and they get the interest, if I carry a balance (which I haven't in a a few years).

[deutschmann59]

This has been brought up before, but the BMW Card is good because you get points that can go toward your next BMW, or even service for the car.

However, I prefer cold-hard cash. I like my Discover gas card much better. For as much as I drive, I get 5% cash-back everytime I fill the car up. Not only that, when I made some big purchases (I bought furnature $2000, TV $3000) and I got 1% back from all those purchases, not to mention everyday purchases.

I'd definitely recommend a card where you can get at least 5% on an everyday purchase (like gas or groceries) and 1% on everything else. It really adds up after a while

Find out what the reward rate is with the BMW card. Then do some comparison shopping.

[Nikki]

Here's a thread from a while back with some useful information in it.
http://www.e90post.com/forums/showthread.php?t=3614
I would like to get it but you need an income, so I guess maybe in a year or two.

[deutschmann59]

Originally Posted by Nikki

Here's a thread from a while back with some useful information in it.
http://www.e90post.com/forums/showthread.php?t=3614
I would like to get it but you need an income, so I guess maybe in a year or two.

Hey, cool! I was trying to sell that Discover card in that post, too!

[CALIF65GM]

I have it and it's neither great nor lousy. I'm kind of indifferent about it. As I carry a balance, so I tend to use my cards with lower interest rates or use my United or American mileage cards for work.

[ward]

yes,


after I've spent 100K on the card I get 1000 off a bmw... woo hoo

not really worth it, but it makes the next BMW cheaper!

[foofighter]

Originally Posted by ward

yes,


after I've spent 100K on the card I get 1000 off a bmw... woo hoo

not really worth it, but it makes the next BMW cheaper!

wow what a bargain! can i sign up online?

[cfai34]

So far the best credit card I found is the citi dividend card it seems to rack up the cashback awards quite fast. My friends coworker has a website with a list of good credit cards but I am unsure if I am allowed to post links to other peoples websites here. I think the best reason the get the BMW visa card is because it makes your wallet look nicer its a very nice looking card.

[cfai34]

Originally Posted by Nikki

Here's a thread from a while back with some useful information in it.
http://www.e90post.com/forums/showthread.php?t=3614
I would like to get it but you need an income, so I guess maybe in a year or two.

You dont have to be completely honest when you fill out the application form on the income section since they mainly just run a credit check. I think you will be able to qualify if you just bend the rules a little bit

[Nikki]

Originally Posted by cfai34

You dont have to be completely honest when you fill out the application form on the income section since they mainly just run a credit check. I think you will be able to qualify if you just bend the rules a little bit

They don't check to see if you even have a job? That seems a little sketch to me, lying about it. It's not like I really need it that bad.

[cfai34]

Originally Posted by Nikki

They don't check to see if you even have a job? That seems a little sketch to me, lying about it. It's not like I really need it that bad.

Honestly they dont really care that much even when you apply for a autoloan not that I am encouraging you to lie on your application because I am not. It would be great to have a few extra credit cards but not too many just to help build your credit. The main thing they do is check your credit history. Did your parents help you with the car or did you do the financing through your own credit. How old are you?? If you are still quite young I suggest you have around 4 credit cards that was what I did a few years back and now I am 24 and have great credit which allowed me to finance this car myself. I think you should have at least 5 years of credit history.

[Nikki]

I'm leasing, and they said that they couldn't do it in my name because they won't lease to first time car buyers. I'm 20. I have had a joint MasterCard credit card for maybe 3 years but I do earn credit with it. I have had a Visa credit card with only a $500 limit on it for two years and its pointless because when I did use it I would always go over since its such a small amount so then I got an Amex for students. It started at like $1,500 and since I keep maxing it out (airline, hotel expenses when I go on vacation, not clothes or jewelry or anything lol) they keep raising it so now it's up to like $4,200 limit. The only problem is that once in a while someone won't take Amex and I have to use the joint card or the card with only a $500 limit so I'd like to have another card besides an Amex that is completely in my name and has at least $1,000 limit.

[cfai34]

Hi that is great you are 20 years old and you drive a 330i. That is sweet. When I was 19 I remember I drove a 1986 mr2 with no a/c and windows that would roll down by itself everytime I hit a bump but yet I still miss that car haha. As far as credit is concerned I think that is around right when I first got my credit card I was 19 and my credit limit was $250.00 LOL. But I think you should try to apply for one of each such as one mastercard, one visa, one discover, and one amex. I am not sure if you will qualify now but just try to do so in the near future. My recommendations would be the visa dividend card and the chase ultimate rewards and the discover gas card which give great benefits.

[Nikki]

My boyfriend has a 1993 MR-2. It's awesome! I especially love how they don't come with a cupholder. I tried driving it though and I couldn't reach the gas pedal really and I could hardly see over the dash lol. My first car was a Honda del Sol, I don't know how I ended up driving a sedan but I love her and she fits our little doggies nicely when we take long trips.

Anyways, I tried recently to get another card and it was a big pain. They actually sent me a thing in the mail saying I was preapproved for a student card from Capital One (no income required) so I entered the code on the website it gave me and they said it would be processed within the next 48 hours. A week later I get another letter in the mail saying I had to send them a copy of my ss card, my birth certificate, my tax return, proof of income, a bank statement, proof of address, and some other stuff so I called up and asked them if it was ok if I didn't send any proof of income since I thought I was signing up for a card that didn't require it. I didn't want to go through all the hassle of sending everything else just so they could tell me they made some mistake and I couldn't get the card or something. So I called up and finally got through and the lady told me she didn't know and said she'd have to transfer me. She transferred me to auto loans (???) so I just hung up and threw it out.

[cfai34]

The 1993 version is still a very nice car. The 86 one really isnt but hey it got me from place to place and went through some great times. While the 93 still looks sporty to me. When you apply for a card they never ask you to mail them or fax them a copy of your ss information so I suggest you never do that. There is rarely that much hassle they just straight out tell you that you have been approved or rejected and the reason.

[Nikki]

Originally Posted by cfai34

The 1993 version is still a very nice car. The 86 one really isnt but hey it got me from place to place and went through some great times. While the 93 still looks sporty to me. When you apply for a card they never ask you to mail them or fax them a copy of your ss information so I suggest you never do that. There is rarely that much hassle they just straight out tell you that you have been approved or rejected and the reason.

Yeah I didn't have to do anything for my other cards. I thought Capital One was "no hassle"

[BMW F22]

I have it and it's an okay card. I seriously only got it bcus I thought it'd b kinda cool just to have one. Well it gives me a very high credit limit so that comes in handy sometimes. I bought movie tickets with it the other day and the girl was like "BMW card? how did you get one?" and I answered "it comes with the car" LOL

[Asiann]

With any card you need to look at the rate in which you earn the rewards. Some cards offer 5% but only on certain things and 1% on everything else for every dollar spent. Capital One use to be the shit until they changed the reward like everyone else and now you only get 1.25 for every dollar spent. I had a bunch of miles that suddenly went to half the value. The BMW card offers rewards towards another BMW or things for the BMW like miles etc. Capital One offers rewards for any use. American Express is like that too and so is Citi Bank. I have a USAA rewards card as well and it is pretty good especially when offering the most in cash back! More than other I have found so far. The days of airline rewards are not the best and seats are often filled for paying customers. Just look at every aspect of the card and make your comparison. Don't forget the annual fee as well. Check out www.Bankrate.com for more info!

[CnoteMD]

Stay away from Capital One. They are one of the worst credit card companies out there. I think they are geared more toward people with bad credit.

Another card to consider is MBNA. I was offered one years ago as a student and the credit line was almost 5 times higher than any of my other cards. Since that time, they have increased the limit repeatedly (and I have never requested a credit line increase). The only negative is that they are apparently merging with Bank of America.

In the end, 99% of my purchases are on American Express.

[deutschmann59]

Originally Posted by CnoteMD

Another card to consider is MBNA.

In the end, 99% of my purchases are on American Express.

My first card was an Ameritrade MBNA card...it was a very nice card... I think I had a $3000 credit limit and I was only 18! Plus, they were one of the only banks with online statements/payments at the time.

I'm surprised you're able to use your Amex card a lot. Around here, most places don't accept Amex because the fees for the merchants are REALLY high. Very rarely will you find anyplace around here that takes that card.

[CnoteMD]

Originally Posted by sharp1183

I'm surprised you're able to use your Amex card a lot. Around here, most places don't accept Amex because the fees for the merchants are REALLY high. Very rarely will you find anyplace around here that takes that card.

A little off topic, but a friend of mine had a funny experience regarding American Express.

He had just finished medical residency and got fairly high paying job. In celebration of his new job, he went to Neiman Marcus. When went to the register his total was about $400 and he handed over his Visa card. The salesperson politely told him, "We accept American Express." He was like, "Ok, thats good to know", but she said the same thing again. Finally she tells him, "We take American Express or cash". He ended up going to the ATM to take out cash since he didn't have an American Express card at the time.

I remember reading somewhere that American Express does charge higher fees to the merchants, but the typical Amex cardholder spends more money. In this area, there are plenty of people with excessive spending habits to more than compensate for those higher merchant fees. The only time my card isn't accepted is when I go to smaller towns.