markjenn
Well-known member
Thanks, good info.
- Mark
- Mark
Yamaha Credit Card = Household Finance...any Prob?
- Thread starter ttsb
- Start date
Help Support Yamaha FJR Motorcycle Forum:
I used the 6 month 0 payment and 0 interest deal on my '04 with the Yamaha card (=Household Finance). The bill would come each month, showing Zero $ due. I chose to make extra payments anyway during that time and they noted everything perfectly each time. The billing statements were spot on. Balance due, payment due, etc. At the end of 6 months, I paid it off. I called them and they sent a letter which was sufficient for Idaho DMV, then my state issued a real title.
It went smooth for me, but if you have a big balance dangling on your bike, go to your credit union or local bank you like, refinance it SOON. Get a new loan and have them pay off the Yamaha / Household loan. Better to have the lienholder in your state and neighborhood, IMO. You can usually get some killer rates and have a local person to deal with. You could get stuck with some high interest payments if you stay with the Yamaha financing, as it it about the same as a credit card--high rates if you don't pay it off each month.
It went smooth for me, but if you have a big balance dangling on your bike, go to your credit union or local bank you like, refinance it SOON. Get a new loan and have them pay off the Yamaha / Household loan. Better to have the lienholder in your state and neighborhood, IMO. You can usually get some killer rates and have a local person to deal with. You could get stuck with some high interest payments if you stay with the Yamaha financing, as it it about the same as a credit card--high rates if you don't pay it off each month.
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Skippy
Well-known member
Used the 6 months zero percent on my 05 with the Yamaha card, paid it off with about 2 weeks to go and received the clear title about 20 days later.
No problems at all, no hassling sales calls, and the statement each month showed the balance and the zero charges and when it needed to be paid off before interest started accruing.
Like any credit institution that is profitable, they make more money when you screw up.
Unlike my AMA MBNA card, it seemed like they delibrately mailed my statement late just so they could bump me from 6.9% to 21% for being late ONCE.
Paid that sucker off toot sweet and told them to stick it where the sun don't shine, then sent a lengthy letter to the AMA.
Haven't heard a thing from them as they are worse than the credit card companies when it comes to money matters, but that's another story.
So, the Household experince for me was everything it should have been.
Skippy
No problems at all, no hassling sales calls, and the statement each month showed the balance and the zero charges and when it needed to be paid off before interest started accruing.
Like any credit institution that is profitable, they make more money when you screw up.
Unlike my AMA MBNA card, it seemed like they delibrately mailed my statement late just so they could bump me from 6.9% to 21% for being late ONCE.
Paid that sucker off toot sweet and told them to stick it where the sun don't shine, then sent a lengthy letter to the AMA.
Haven't heard a thing from them as they are worse than the credit card companies when it comes to money matters, but that's another story.
So, the Household experince for me was everything it should have been.
Skippy
markjenn
Well-known member
I just noticed on my latest statement that they clearly show a "Promotion Expiration Alert" and say that they have to receive payment for the balance before this date or finance charges will start accuring. So it all seems pretty clear how to handle it if you're trying to just use the six-month free financing.
- Mark
- Mark
markjenn
Well-known member
I just noticed on my latest statement that they clearly show a "Promotion Expiration Alert" and say that they have to receive payment for the balance before this date or finance charges will start accuring. So it all seems pretty clear how to handle it if you're trying to just use the six-month free financing.
- Mark
- Mark
markjenn
Well-known member
To close my story with HSBC/Yamaha, it took four phone calls but I finally got my signed-off title.
First call three weeks after payoff: Title is in the mail.
Second call: Title was returned non-deliverable, we'll mail it again.
Third call: Title was returned again, let's confirm your address on file
Fourth call: Title in the mail.
I got my title a day after the fourth call, 2.5 months after paying the loan off. There was a very minor error in the address they had for me, although I've gotten a lot of mail with bigger errors. And they seemed to have my address in perfect order for sending me my bill each month.
I doubt I'll use my Yamaha credit card again. It was a lot of trouble to defer paying the $11K for six-months.
- Mark
First call three weeks after payoff: Title is in the mail.
Second call: Title was returned non-deliverable, we'll mail it again.
Third call: Title was returned again, let's confirm your address on file
Fourth call: Title in the mail.
I got my title a day after the fourth call, 2.5 months after paying the loan off. There was a very minor error in the address they had for me, although I've gotten a lot of mail with bigger errors. And they seemed to have my address in perfect order for sending me my bill each month.
I doubt I'll use my Yamaha credit card again. It was a lot of trouble to defer paying the $11K for six-months.
- Mark
JimV
Well-known member
FWIW, I just paid off my son's FZ6, so I'll see how long it takes to get the title.
I signed up for online payments. Just set up a recurring payment or pay online each month being careful to follow the rules regarding posting dates. They are clearly set up to play gotcha if you miss a payment, so don't. I really have no complaints at this point. I more or less expect credit card companies (and banks) to be looking for a way to screw you with fees, so I'm careful. All told, I probably wouldn't do it again. I wanted my kid to pay for the bike himself but next time, I'll just be the bank.
Cheers,
Jim
I signed up for online payments. Just set up a recurring payment or pay online each month being careful to follow the rules regarding posting dates. They are clearly set up to play gotcha if you miss a payment, so don't. I really have no complaints at this point. I more or less expect credit card companies (and banks) to be looking for a way to screw you with fees, so I'm careful. All told, I probably wouldn't do it again. I wanted my kid to pay for the bike himself but next time, I'll just be the bank.
Cheers,
Jim
jrd14
Well-known member
I used the Yamaha credit (HSBC) card, for the 6 months same as cash on my 05 FJR, waited 5 1/2 months then paid off the balance and recieved my title about a week later. Maybe I was lucky. I know they want you to trip up and fall into their high interest rate trap, can you blame them, that's their business. Just be careful and beat them at their own game!!!
tripletango
Well-known member
I don't trust HSBC as far than I can throw them. Be careful of this lot. I have dealt with them in the UK. They took over my company's 401 K. I am no longer with HSBC. I had an option. Nuf said.
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chipset
Well-known member
HouseHold is a bunch of idiots.
I speak from personal experience both as a customer and a vendor. I work for a software company and they are a customer of ours. Their people are complete idiots. They don't know what they are doing and they simply don't mind violating copyrights and licensing agreements. It took me 3-4x longer to explain simple concepts than other customers.
They are also a firm believer in H1B Visas, to keep costs down.
On the customer side, any hiccup and they are completely unresponsive. I financed my '01 R1 with them and didn't have any problems. But, I only used them for 3 months. Then, I called to cancel the card. It did take a while to get the title, tho.
The nightmares are well documented at https://www.epinions.com.
I won't use them again. I don't deal with companies that don't understand customer service.
I speak from personal experience both as a customer and a vendor. I work for a software company and they are a customer of ours. Their people are complete idiots. They don't know what they are doing and they simply don't mind violating copyrights and licensing agreements. It took me 3-4x longer to explain simple concepts than other customers.
They are also a firm believer in H1B Visas, to keep costs down.
On the customer side, any hiccup and they are completely unresponsive. I financed my '01 R1 with them and didn't have any problems. But, I only used them for 3 months. Then, I called to cancel the card. It did take a while to get the title, tho.
The nightmares are well documented at https://www.epinions.com.
I won't use them again. I don't deal with companies that don't understand customer service.
