Can a dealership do this?
#11
08-09-2007 | 11:21 AM
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RE: Can a dealership do this?
thanks for the advice everyone, i just wasn't aware that i was applying for a credit card when he told me that i WASN'T applying for one. i'm probably just going to keep the card for now because i gotta get a helmet and jacket for my fiance so she can ride with me, and i'll just pay that off and then close the card.
#12
08-09-2007 | 11:31 AM
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RE: Can a dealership do this?
ORIGINAL: rangerscott
RMR where do you live. I'm in Lubbock and buy my oil at Family. They have some nice bikes but never put the prices on them.
RMR where do you live. I'm in Lubbock and buy my oil at Family. They have some nice bikes but never put the prices on them.
#13
08-09-2007 | 12:31 PM
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From: Nebraska
#14
08-09-2007 | 04:44 PM
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RE: Can a dealership do this?
ORIGINAL: rmr1923
sorry if my first post confused you.. here's what happened. he told me about the option to finance half of the purchase, i asked him what the interest rates were. he had me fill a sheet out with my info and i asked him if i was applying for a credit card and he told me no, but that i had to sign that sheet for him to run a credit check to tell me what sort of interest rates i'd be receiving. he was very clear that he was only running a credit check and i made him clarify that i wasn't applying for the FUNancing card, but i get a FUNancing card in the mail today. i'm still fairly young (23) but i've had a credit history for about 5 years now. when i was in high school and working for my dad, i realized that instead of paying cash for things, i could put them on a credit card and pay them off right away with my cash and build up credit that way. i currently have two credit cards, one is a Citi card, the other is a Circuit City credit card that i opened up to receive 18 months no interest on a laptop for school. would it be best for me to just cancel this card, or should i buy something on it and then pay it off? there's a helmet at this dealership that i'm probably going to buy, so maybe i should put that on the FUNancing card and then cancel it when i pay it off.
ORIGINAL: racer212
Guess I'm not quite sure what you're saying.. you say you authorized a credit check but not actually apply fun anything? Odds are pretty good you signed something authorizing tehm to run a credit check for the purposes of obtaining financing. I know with FUNancing they couldnt tell you anything about rates etc without actually getting you approved.
As far as whether you should cancel it or not, it depends your current credit situation. If you're young and without any established credit I'd keep it, and maybe even go buy a helmet or something on it and pay it back off so you can show a payment history on the account. If you already have a lot of established credit lines, I'd probably lose it just to keep you number of accounts down.
I run a motorcycle shop and have a long background in finance. If you wanna talk about it off line pm me.
Guess I'm not quite sure what you're saying.. you say you authorized a credit check but not actually apply fun anything? Odds are pretty good you signed something authorizing tehm to run a credit check for the purposes of obtaining financing. I know with FUNancing they couldnt tell you anything about rates etc without actually getting you approved.
As far as whether you should cancel it or not, it depends your current credit situation. If you're young and without any established credit I'd keep it, and maybe even go buy a helmet or something on it and pay it back off so you can show a payment history on the account. If you already have a lot of established credit lines, I'd probably lose it just to keep you number of accounts down.
I run a motorcycle shop and have a long background in finance. If you wanna talk about it off line pm me.
As far as canceling it or not, if you have your credit established and moving, lose the FUN card. Its not a good way to buy anything but bikes, and it sounds like you already have yours.
#17
08-09-2007 | 11:12 PM
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From: Texas
RE: Can a dealership do this?
ORIGINAL: voodoochyl
"FUNancing" sounds like a load of horse****! You better grab your *** cheeks when people are getting clever with the name of their financing...
"FUNancing" sounds like a load of horse****! You better grab your *** cheeks when people are getting clever with the name of their financing...
#18
08-10-2007 | 11:01 AM
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RE: Can a dealership do this?
well i guess the "fun" part is the introductory 13.5% apr, and it only goes up after that. i called up there and they acted like there was some sort of huge mistake and that i shouldn't have gotten the card (i guess they tell you whatever they think you want to hear). oh well, i just cancelled it and told them i'd already found my bike anyway.
and i did read the agreement, and nowhere on that sheet did it state that i was applying for a credit card. it said, specifically, that i authorize them to run a credit check through a credit reporting agency. the sheet was only printed on the front, and had no fine print, so i know i didn't miss anything. i never sign something without reading it over, because i've been screwed before for not reading the fine print.
and i did read the agreement, and nowhere on that sheet did it state that i was applying for a credit card. it said, specifically, that i authorize them to run a credit check through a credit reporting agency. the sheet was only printed on the front, and had no fine print, so i know i didn't miss anything. i never sign something without reading it over, because i've been screwed before for not reading the fine print.
#19
08-10-2007 | 04:09 PM
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