Question
Many threads have either touched on or had using CC's for autos as their main theme in the recent past.....
My efforts finally paid off, and I thought I'd share what may have helped me convince the car dealer's business manager to let me use my First USA "double miles" VISA for the purchase of my wife's new car!!
The main problem that the dealers have is that "buyer's remorse" could set in and they'd have to deal with their purchase price being held up while the buyer disputed the purchase thru the card company. I offered to provide a check to the dealer, that they could hold (while not cashing it) in the event a dispute arose and I chose to exercise the "put" option on the card purchase.
This wasn't neccessary at the end of the day, but I believe that my offer to do so greatly reduced the reluctance of the business guy at the dealership to take credit cards.....On the other hand, the fee they pay to the card company can be worked out in terms of "sharing" the costs.
At the end of the day, we got a reasonably fair deal on a new car, and 40K air miles just by paying with a CC!!
Best wishes.
Answer
Posted by bseller:
helped me convince the car dealer's business manager to let me use my First USA "double miles" VISA for the purchase of my wife's new car!!
My car dealer accepted my credit card for the downpayment. The leasing company does not.
BTW, what is First USA "double miles" VISA?
I have 2 First USA CCs. One BA and one Priority - no double miles!
Answer
Originally posted by USAFAN:
Posted by bseller:
helped me convince the car dealer's business manager to let me use my First USA "double miles" VISA for the purchase of my wife's new car!!
My car dealer accepted my credit card for the downpayment. The leasing company does not.
BTW, what is First USA "double miles" VISA?
I have 2 First USA CCs. One BA and one Priority - no double miles!
Probably referring to the UA Visa that currently has a double points promo until 10/31.
Answer
Originally posted by bseller:
The main problem that the dealers have is that "buyer's remorse" could set in and they'd have to deal with their purchase price being held up while the buyer disputed the purchase thru the card company. I offered to provide a check to the dealer, that they could hold (while not cashing it) in the event a dispute arose...
Good for you. I tried to make a car down payment with my FF Visa last November and was told about the buyers remorse thing. The backup check didn't occur to me.
Answer
I found this in todays New York Times:
....Bank One Visa, which is in partnership with United Airlines, have been offering two airline miles for each dollar charged on their cards this summer. For a new cardholder's initial purchase alone, United's Mileage Plus Visa offers 15,000 bonus miles in addition to the double miles on subsequent charges....
Answer
I am confused. When you apply, you get:
....Yes, I have NOT been denied credit by Bank One or First USA Bank within the last 6 months....
Are Bank One and First USA one or two banks?
Answer
IIRC First USA took over Bank 1 a couple years ago.
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danville 1K
Answer
USAFAN-
Given who signs my paychecks http://www.flyertalk.com/forum/smile.gif , I have it on very good authority that:
Bank One Corporation is the holding company that comprises a number of bank and non-bank subsidiaries. Bank One, N.A. is the lead bank in the company, but there are others that are chartered in other states as well.
First USA is a "credit card bank" in that it is a chartered bank but operates only to issue CC's.
Bottom line: from your perspective they're probably best viewed as one company, but legally they have to ask whether you've been denied, etc, etc, from different legal entities.
Best wishes.
P.S. - Danville 1k: It was Bank One that purchased First USA a few years ago,,,,approximately at the time that Bank One and First Chicago NBD merged.....
[This message has been edited by bseller (edited 08-17-2002).]