anyone have problems with yamaha credit ?

[Mighty]

You only want to use the Yamaha card to get their promo's. Once it ends either pay off the account or switch it to a traditional loan. Their interest is rediculous.

 

[Superman]

You only want to use the Yamaha card to get their promo's. Once it ends either pay off the account or switch it to a traditional loan. Their interest is rediculous.

Oh yea. I am just switching mine as my 0% just ran out. besides I have to make some room for a RTX or Attak or some kind of Phazer. Gotta love that 0% stuff when available.

 

[snowbeast]

Make sure none of your credit cards has more than a 50% balance. If you carry any balances you should always strive for this. For every revolving account you that have more than a 50% balance, your credit score takes about an 18 point hit no matter how long you've had that account, or how well you've paid it. Pay your cards all down to below 50% and ask them to rerun it in 30-45 days. My business often causes me to run my cards high then pay them off. I did that exact thing last fall when I got the 0% deal for my GT after they initally declined me.

That dont mean bs because yamaha credit or hsbc if screwed up at best,they also do polaris as well my boy missed one payment on his poo and they shafted him,and he paid it completely off one month later,did they care no!! Just like chase card i now have i have a near perfect credit score as i am looking at my credit report that we pulled yesterday,it states that i have a 766 which is very good out of 330-830 it scores higher than 79.26% of us consumers,but does chase care,and i have alot of my credit cards at max balances,is it good hell no am i trying to get a second mortgage to once again clean this stuff up once again,because chase hiked up my rate to max 31% from 7.99% because they said i am overextended,yes i think i am too,but does them taking a managable 8% make it 31% which tripples you min. payment make any sense,all that does is put you in the poor house,when at one time i was actually making headway on my account,but now no way,the system and screwed up bad at all levels.

 

[alaskanbowtie]

I agree, they're system is screwed big time, My rating is 780 last time I checked and should be higher, I have a few small things on my cards but nothing that even comes close to being over extended..... I'm still pissed about the whole deal when I know for fact I can get a line of credit for $20,000.00 plus in a matter of minutes at my credit union. Yamaha did the same thing to me ten years ago when I was going to buy a Banshee... denied me then and so I bought a 300ex and said FUK you..... now ten years later here we go again!

 

[riggins10ai]

Yamaha credit must be real picky because i went with my uncle to pick up his apex at the beginning of the season and the dealer said he had been denied the yamaha card. Now, my uncle lives in Orlando Florida, but recently build a ridiculously sized house in central NY that is his winter snowmobiling home that must have cost him atleast 750k, and he has 6 smowmobiles. He owns his own Engineering and Architectual firm in Orlando. Now, I didnt know exactly how much he makes but i was just a shocked as him when he found out he had been denied. So he called them up right there at the dealer and i heard him say " how can i be denied for credit when i have great credit and an annual income of 1.2 million?" Yamaha said they thought it was weird that someone who lives in florida was buying a snowmobile. He already has 2 yamahas and after explaining everything they still said no. Guess yamaha doesnt need the money?

 

[NB-NYTRO]

Throttl Jockey, There is now way Yamaha could make you close another credit card. Did Yamaha recommend you close some of your cards? If they did indeed make you close your account with Polaris in order to get Yamaha credit, this is grounds for a suit from Polaris... if they found out.

YS

A lender can offer you a conditional approval. In this case the condition was that he close his other credit card. This would remove some of the revolving credit available to the applicant which makes the lender more comfortable to approve the deal because the applicant then would have less revolving credit available. In this case the request was to close the Polaris card. It could of been his local retail store card or a bank/cu card for that matter. It makes no difference. This is not an un-common request. No credit company can sue another credit company if the applicant is given a conditional approval to close another credit card in lieu of the Yamaha card.

 

[NB-NYTRO]

Financial institutions add up all your available credit and calculate what your payments could be if you maxed out everything

I doubt it matterd that it was Polaris.

Actually pretty good of them to give you a way to get it approved.

Most would just say no.

They do look at the over all available revolving credit. Many of us have enough revolving credit that if we racked them up with would never be able to pay them off in like 20 years. haha..

 

[NB-NYTRO]

I agree, they're system is screwed big time, My rating is 780 last time I checked and should be higher, I have a few small things on my cards but nothing that even comes close to being over extended..... I'm still pissed about the whole deal when I know for fact I can get a line of credit for $20,000.00 plus in a matter of minutes at my credit union. Yamaha did the same thing to me ten years ago when I was going to buy a Banshee... denied me then and so I bought a 300ex and said FUK you..... now ten years later here we go again!

Well in your case it could of been that you had you credit checked too many times in a short period of time. It also could of been that you were maxed out on alot of your credit cars. It also could of been your total debt service ratio was excessive. Lenders look at all this. Sometimes an applicant can have their credit checked like four times in a month with no credit trades opened. Thats means that the other financial institutions declined you for credit. The cb checks also have lowered your overall credit score. The lender can make you out to a credit seeker. Its a whole different ball game if you have had your credit checked four times in he last month and you opened four new accounts. They lender would still be cautious as you have recieved four new credit cards in a short period of time however its not as bad having your credit credit check four times and then being declined. You see Yamaha Credit doesn't know you from a whole in the ground. However your local credit union has relationship with you. They know exzactly where you live and where you work. They might know your parents or brothers or sisters.. They might be clients at your local credit union/bank. They won't want to decline you because they potentially could loose you and your family as clients. They are more likely to approve you outside of their normal guidelines based on the relationship you have with your local cu/bank. I am not saying your credit bad or that you are maxed out. I am really have no idea what your situation financialy is like. Credit is not black and white but rather shades of gray. There so many things to look at. The main things lenders consider is credit rating, job stability, address stability, total debt service ratio, income. These are the five main points of an application that lenders look at. Now credit lines are revolving credit traded much like your credit card only with lower rates of interest. Now because they are revolving credit trades lenders usually like to see that you have investments to back up the credit line. So that if somthing goes wrong you have investments to fall back on. Its alway much easier to get an installement loan with the sled/bike/car/truck as collateral then a credit line. However your local bank/cu is more likely to approve you for a credit line based on the relationship even though you have little or no savings and no equity in your home to fall bank on. I hope this helps.

 

[NB-NYTRO]

Make sure none of your credit cards has more than a 50% balance. If you carry any balances you should always strive for this. For every revolving account you that have more than a 50% balance, your credit score takes about an 18 point hit no matter how long you've had that account, or how well you've paid it. Pay your cards all down to below 50% and ask them to rerun it in 30-45 days. My business often causes me to run my cards high then pay them off. I did that exact thing last fall when I got the 0% deal for my GT after they initally declined me.

That dont mean bs because yamaha credit or hsbc if screwed up at best,they also do polaris as well my boy missed one payment on his poo and they shafted him,and he paid it completely off one month later,did they care no!! Just like chase card i now have i have a near perfect credit score as i am looking at my credit report that we pulled yesterday,it states that i have a 766 which is very good out of 330-830 it scores higher than 79.26% of us consumers,but does chase care,and i have alot of my credit cards at max balances,is it good hell no am i trying to get a second mortgage to once again clean this stuff up once again,because chase hiked up my rate to max 31% from 7.99% because they said i am overextended,yes i think i am too,but does them taking a managable 8% make it 31% which tripples you min. payment make any sense,all that does is put you in the poor house,when at one time i was actually making headway on my account,but now no way,the system and screwed up bad at all levels.

I would find a bank that wants to work with you and refinance your mtg with them and pay off everything off with the proceeds from the mtg refinance. This providing that you have the equity available. Make sure that they are offering good mtg rates before hand. This will get rid of all your high interest credit cards. This will give you only one monthly payment. You can extend your amortization up to I think 30 years in the States and only 25 years in Canada at this point. However thats going to change for us Canucks soon enough. This should lower your total debt ratio quite a bit. Which will allow you to start saving some money for retirement or just live more comfortable or you can go buy more toys..haha. However that will only put you back into same position again.. haha.