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Polaris STAR Card
- NEVER NEVER NEVER NEVER get one
started by flylake
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February 2nd 2008 at 8:49 PM
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flylake
Advanced Member
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1366 Posts 
Group: Members
Member Since: November 16th 2004
Location: Laconia, NH, USA
Current Sled: 2006 Polaris 600 Trail
2008-2009 Miles: 0
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Ok, to all you guys who warned me not to finance my sled through Polaris, I owe you big apologies.
I've made two payments so far and paid double the minimum with each payment, yet every month my statement balance increases about $150, not decreases. If I made the minimum payments, I'd owe nearly $600 more than I financed. This STAR CARD is a royal screw job. What's worse is of the $99/month payment, $76.59 is INTEREST. Barely anything goes towards paying off your sled.
I'm lucky in that I can just write a check to pay it off (which I'm doing Monday), but I truly feel sorry for the people who don't have the cash reserves to do this. Polaris lures you in by advertising a maximum payment of $99/month for the life of the loan, but what they don't tell you is you can never pay it off. It is the worst sort of loan fraud there is besides the recent home loan scandals.
As much as I love Polaris products, I don't think I'll ever buy another one. Any company that has this little respect for their customers doesn't deserve to get my money.
***** always looking for sleds, bikes, quads, tractors etc to rebuild....
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Site Supporter
Group: Site Supporters
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February 2nd 2008 at 8:53 PM
[ Modified February 2nd 2008 at 8:56 PM
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Revagade800x
Formerly known as luvsnowncold
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3046 Posts 
Group: Members
Member Since: September 16th 2002
Location: Bangor, Maine, USA
Current Sled: 2006 Renegade 800 X
2008-2009 Miles: 1000
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I have heard of stories like this, most people that I know that uses BRP,Yamaha,Polaris kind of cards usually pays between $300 to 400 per month.. which polaris did you charge it on? 06 Fusion 600?
EDIT: how it is Polaris fault??? it all depends on the bank whoever issues "star card" look back of the card.. Polaris is not a banking company. BRP Card is 17.9% and once again BRP is not a banker.. its usually the same company that issues JCPenny,Macys cards!
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February 2nd 2008 at 8:58 PM
[ Modified February 2nd 2008 at 9:00 PM
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arcticcatmatt
Spleen Splitter
arcticcatmatt leaving after work for 3 days of shotgun season back home!
Updated Friday at 12:16 PM
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14007 Posts 
Group: Moderators
Member Since: November 25th 2001
Location: Berkshire, NY, USA
Current Sled: 96/97 ZRT 600
2008-2009 Miles: 450
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Sounds as bad as credit cards and student loans. And I agree, its not polaris's fault. All places offer stupid deals like this. Dell computers is another.
Its the peoples fault that accept the agreement.
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February 2nd 2008 at 9:06 PM
[ Modified February 2nd 2008 at 9:07 PM
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Revagade800x
Formerly known as luvsnowncold
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3046 Posts
Group: Members
Member Since: September 16th 2002
Location: Bangor, Maine, USA
Current Sled: 2006 Renegade 800 X
2008-2009 Miles: 1000
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Shudders of the thoughts of DFS those good old famous blue/white statements their CSR's are nasty and not accurate.. .. They are horrible.. I could write pages about it, LOL. but NAH!
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February 2nd 2008 at 9:12 PM
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XLT580kid
XCR Destroyer
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522 Posts 
Group: Members
Member Since: May 26th 2004
Location: Passadumkeag, Maine, USA
Current Sled: 01 XCR 800; 04 xcsp 600
2008-2009 Miles: 450
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I have one of these cards. I was going to buy an '08 Shift with it, but decided to wait. Glad I didn't use it. And its definately not Polaris' fault, its just another banks card with the Polaris logo on it.
2004 XCSP 600
2001 XCR 800- DG silencer, 121" edge skid, 22/40 gearing.
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February 2nd 2008 at 9:36 PM
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myvertxcape
Bring It, Don't Sing It!
myvertxcape flu sucks azz.
Updated Thursday at 8:00 PM
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2640 Posts
Group: Members
Member Since: July 10th 2005
Location: Kotlik, AK, USA
Current Sled: '07/8 600RMK 144's
2008-2009 Miles: 6200
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I better start making payments on mine and see where it is at. Guess I'll "pay" it off by this summer.
'08 600RMK 144" 6565 miles
SLP single pipe/can, intake kit, footwell vents, Clutching
my own shockwell intake vent, VMI rack, backrest
'07 600RMK 144" 2725 miles
SLP can, VMI rack! Footwell vents
RAW chassis tunnel bag for sale, fits RMK's and Switchbacks. $80 new, $60 shipped within US(looks like new) http://www.snowmobilefanatics.com/forum/...splay.aspx
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February 2nd 2008 at 9:39 PM
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flylake
Advanced Member
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1366 Posts
Group: Members
Member Since: November 16th 2004
Location: Laconia, NH, USA
Current Sled: 2006 Polaris 600 Trail
2008-2009 Miles: 0
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How can it not be Polaris's fault?  The bank is HSBC, but Polaris sponsors the card, gets the revenue from it, sets the terms and interest rates, advertises the program and its their name on the card. There is no way they are not aware of what's going in.
I bought a 2006 Edge Touring with it. I have enough credit left on it where I was also going to pick up a Dragon, but I'm glad I didn't. Thank God I can just write a check and pay it off. The only reason I used the card was because we wanted to keep our cash in the bank until after we got our tax refund, and really $99/month is next to nothing. I'd still be happy with the $99/month if the balance was going down instead of UP. 
I guess the other posters have valid points in that all consumer credit programs are just as awful. I need to go back to my point of view from 2 years ago when I used to preach to people wanting to finance sleds - if you can't afford to pay cash for it, you can't afford it 
***** always looking for sleds, bikes, quads, tractors etc to rebuild....
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February 3rd 2008 at 3:39 AM
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PolarisEdge
Polaris Tech
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1180 Posts
Group: Members
Member Since: November 13th 2005
Location: Miramichi, New Brunswick, Canada
Current Sled: '05 IQ 900
2008-2009 Miles: 1320
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Actually it isn't Polaris's fault. They buy down the interest rate from HSBC to make it 12.5%. The card is a open line of credit... you are only paying interest on what the remaining balance is. Polaris offered loans like this to keep the monthly payments lower to get people to buy sleds.
It doesn't matter what bank that you go to if you were paying 12.5% interest you will be paying the same amount of money, the only thing is that they will make your minimum payment around $225 a month but like I said you are still paying the same $$ amount in interest.
From a buisness stand point this was a good idea for Polaris mostly because it allowed a big portion of seasonal workers who don't make big money in the winter to be able to get a snowmobile with a low minimum payment for the winters and then in the work seasons you can pay as much as you want without penalty.
I agree that at the first of the loan if you only pay that minimum amout, not much will make it to the principal, but if you take a couple grand and slap it down when you can... your interest will be greatly reduced.
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February 3rd 2008 at 7:54 AM
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xcr440
Sundowners Trail Coordinator
xcr440 icefish's because having feeling in your fingertips is overrated.
Updated Over an hour ago
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12582 Posts
Group: Members
Member Since: February 1st 2003
Location: St.Germain/Edgerton, Wisconsin, USA
Current Sled: 03prox700/97xcr440
2008-2009 Miles: 610
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I guess you should have read the fine print. I bought my predator that way($50 month for 1 year) but paid it off after the 1 year term is up.
All I was paying was the interest.
Miss a payment 1 time and see what the % goes up to. On mine it would have went up to 22.5%
Most of the manufactors have cards/revolving lines of credit that work this way
a good beer drinker isnt a picky beer drinker
Loggers.... Working their ass off so you can wipe yours!
"Steep ground is when your cutting a notch and notice a mountain goat looking at you like you are crazy." - Hexan
woodbooga: (WOOD-boog-ah), n. regional dialect, common to areas of New Hampshire and Maine including the towns of Ossipee, Alton, Farmington, Acton, and Lebanon; one who attempts to obtain free firewood to fuel woodburning appliances in an effort to mitigate expenses related to home heating with fossil fuels. Frequently used as a term of derision by non-woodburners who mock the presence of loose bark and other wood waste in the beds of their pickup trucks.
2003 Pro x 700 almond/blue,10-66 black/red team 719 T-flow, 440 mains
1997 xcr440 my clutch kit, 380 mains,T-flow
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February 3rd 2008 at 10:31 AM
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My rule of thumb for toys is, if you dont have the cash you shouldn't be buying it. Or at least have half the money
Polaris must think where all idiots, well they probably sssume that, because we bought a Polaris I guess.
I bought a new 06 Fusion 600. I have been getting junk mail from them ever since. They said they would insure my new sled for like $600.
WTF, I have my sleds through Met Life, its only like $160. Thats with 250/500 liability, more then what they offered.
Those selfish rich bas***** at the top, that are stealing the money and running this company in the ground. Finally One CEO is leaving, now that he ruined the company, mustn't be any money left to steal.
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February 3rd 2008 at 11:23 AM
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thats why we use zero percent credit cards.
nothing goes like 3 holes!!
Aaen Performance!!!!
High performance engineering
millennium technologies
brtech hoods
price performance
Got Speed Racing
320-629-4889
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February 3rd 2008 at 11:49 AM
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flylake
Advanced Member
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1366 Posts
Group: Members
Member Since: November 16th 2004
Location: Laconia, NH, USA
Current Sled: 2006 Polaris 600 Trail
2008-2009 Miles: 0
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Quote originally posted by SnowAttitude
My rule of thumb for toys is, if you dont have the cash you shouldn't be buying it. Or at least have half the money
Polaris must think where all idiots, well they probably sssume that, because we bought a Polaris I guess.
I bought a new 06 Fusion 600. I have been getting junk mail from them ever since. They said they would insure my new sled for like $600.
WTF, I have my sleds through Met Life, its only like $160. Thats with 250/500 liability, more then what they offered.
Those selfish rich bas***** at the top, that are stealing the money and running this company in the ground. Finally One CEO is leaving, now that he ruined the company, mustn't be any money left to steal.
Yea - I didn't even mention the insurance. They quoted me $650/year and made it out like they were doing me a favor. I checked Geico, Allstate, State Farm and BOAT US and nobody was over $200. Again, this highway robbery is part of Polaris's business plan. They know what they are doing.
***** always looking for sleds, bikes, quads, tractors etc to rebuild....
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February 3rd 2008 at 12:11 PM
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AKnarrowback
We have all received a bail out. Jesus paid our debt 2000 years ago.
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867 Posts
Group: Members
Member Since: October 1st 2006
Location: Fairbanks, Alaska, USA
Current Sled: 96 xlt rmk/sks
2008-2009 Miles: 16
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If you can't pay for it in cash you don't get it.......
Simple rule to live by, it saves a lot of headaches.
96 xlt sks/rmk. custom 5.5 inch riser on the bars, custom air intake, custom front shock mounts, custom oil feed channel in block to inner pto end bearing, primer (I hate chokes), custom = I made it myself
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February 3rd 2008 at 1:02 PM
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jeeper1
Junior Member
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265 Posts 
Group: Members
Member Since: September 28th 2005
Location: Pickett, WI, USA
Current Sled: 2006 Fusion 700
2008-2009 Miles: 920.3
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The terms are clearly laid out when you are issued the card. The percentage rate is stated. It is not even the credit card company's fault. You agreed to the terms. I have used the Star Card twice. Once for half my Victory due to the zero interest for 1 year. Left the money in the bank to earn interest and MADE SURE I paid it off before the one year. Did the same thing on my Fusion.
2006 Polaris 700 Fusion (Mine)
2006 Polaris 700 IQ Classic (Wifes)
Yeah - I think I can make it up that!
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February 3rd 2008 at 1:26 PM
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randall
arctic cat fanatic!
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554 Posts
Group: Members
Member Since: March 5th 2007
Location: winona, mn, USA
Current Sled: 04 sabercat 600
2008-2009 Miles: 475
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i just dont see the point in buying brand new anymore to begin with.
"Let us love, not in word or speech, but in truth and action."
1 john 3:18
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February 3rd 2008 at 5:46 PM
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flylake
Advanced Member
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1366 Posts
Group: Members
Member Since: November 16th 2004
Location: Laconia, NH, USA
Current Sled: 2006 Polaris 600 Trail
2008-2009 Miles: 0
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I like new sleds because every year the technology and features improve. I'm just going to pay cash from now on. My next sled will be a Cat :)
***** always looking for sleds, bikes, quads, tractors etc to rebuild....
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February 3rd 2008 at 9:41 PM
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AKnarrowback
We have all received a bail out. Jesus paid our debt 2000 years ago.
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867 Posts
Group: Members
Member Since: October 1st 2006
Location: Fairbanks, Alaska, USA
Current Sled: 96 xlt rmk/sks
2008-2009 Miles: 16
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Quote originally posted by randall
i just dont see the point in buying brand new anymore to begin with.
Amen!!!!
96 xlt sks/rmk. custom 5.5 inch riser on the bars, custom air intake, custom front shock mounts, custom oil feed channel in block to inner pto end bearing, primer (I hate chokes), custom = I made it myself
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February 3rd 2008 at 9:51 PM
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flylake
Advanced Member
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1366 Posts
Group: Members
Member Since: November 16th 2004
Location: Laconia, NH, USA
Current Sled: 2006 Polaris 600 Trail
2008-2009 Miles: 0
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The other reason I bought a new sled is for the last 20 years or so I've only bought beaters. Anyone who's followed any of my posts for the last few years knows I buy a couple sleds, tear them all apart, fix what needs fixing and put them together to make one running sled. I run it until someone makes me an offer I can't refuse then start the whole process all over again. Thing is, I'm almost 50 now and am getting tired of playing grease monkey when everyone else is out riding. Having a new sled this year was nice, but next year, I'll probably pass this one on to one of my boys and get another used sled for myself. See - even when I try and spoil myself, I go cheap. Must be the Irish in me.
***** always looking for sleds, bikes, quads, tractors etc to rebuild....
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February 4th 2008 at 9:58 AM
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I agree to buy something reliable. but they told you the interest rate and how it works. for some of the other posters to call them names is just stupid.
like the people that overpaid for there houses when the market was hot. now they are asking the gov. to bail them out. so now my tax dollars have to go to you since you cant pay your own bills.
nothing goes like 3 holes!!
Aaen Performance!!!!
High performance engineering
millennium technologies
brtech hoods
price performance
Got Speed Racing
320-629-4889
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February 4th 2008 at 10:20 AM
[ Modified February 4th 2008 at 10:23 AM
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flylake
Advanced Member
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1366 Posts
Group: Members
Member Since: November 16th 2004
Location: Laconia, NH, USA
Current Sled: 2006 Polaris 600 Trail
2008-2009 Miles: 0
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They told me what the interest rate would be, however they did not provide any written documentation about the program, amortization tables, or anything other than that the payments would be a flat $99/month for the life of the loan. One thing they definitely made no mention of is the fact that if you make the minimum payment, the total amount owed will GROW every month, not decrease. 
For Polaris to endorse a program where if you make the advertised payment, you can never pay off the loan is outrageous. My brother ran an amortization program on this loan and for it to be paid off in full making only the $99 payment would take between 45-52 YEARS depending on how they stack up the interest charges.
Again, I took this loan for the sole reason of deferring my having to write a check for the entire sled for a couple months until I did my taxes for the year so I really didn't pay a whole lot of attention to the details. For me, the $99/month gave me a cheap way to rent a sled for a couple months.
The point here is that someone who is looking to get into a Polaris product based on the advertised $99/month is getting screwed. I started this thread to one, acknowlede and thank those on SF who originally told me this $99/month program was a huge rip-off, and two, warn anyone else who may be considering the STAR CARD program. Just think of all those people who got bad real estate loans who could have been saved a lot of grief had someone warned them in advance.
BTW - I just now received an email from HSBC this morning addressing my concern that the balance is going up faster than my payments are drawing it down. The reply email suggested that if you get one payment ahead you will stop this because you will be ahead of the finance charge cycle. This is pure BS because I was already 4 payments ahead and my balance kept going up. I paid off my remaining balance this morning and am glad to be free from this program.
***** always looking for sleds, bikes, quads, tractors etc to rebuild....
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February 4th 2008 at 10:37 AM
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xcr440
Sundowners Trail Coordinator
xcr440 icefish's because having feeling in your fingertips is overrated.
Updated Over an hour ago
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12582 Posts
Group: Members
Member Since: February 1st 2003
Location: St.Germain/Edgerton, Wisconsin, USA
Current Sled: 03prox700/97xcr440
2008-2009 Miles: 610
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Have you checked with other manufactors. Their card/revolving credit works the same way.
a good beer drinker isnt a picky beer drinker
Loggers.... Working their ass off so you can wipe yours!
"Steep ground is when your cutting a notch and notice a mountain goat looking at you like you are crazy." - Hexan
woodbooga: (WOOD-boog-ah), n. regional dialect, common to areas of New Hampshire and Maine including the towns of Ossipee, Alton, Farmington, Acton, and Lebanon; one who attempts to obtain free firewood to fuel woodburning appliances in an effort to mitigate expenses related to home heating with fossil fuels. Frequently used as a term of derision by non-woodburners who mock the presence of loose bark and other wood waste in the beds of their pickup trucks.
2003 Pro x 700 almond/blue,10-66 black/red team 719 T-flow, 440 mains
1997 xcr440 my clutch kit, 380 mains,T-flow
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February 4th 2008 at 10:42 AM
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flylake
Advanced Member
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1366 Posts
Group: Members
Member Since: November 16th 2004
Location: Laconia, NH, USA
Current Sled: 2006 Polaris 600 Trail
2008-2009 Miles: 0
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Kawasaki's is very similar. Not sure about the others.
***** always looking for sleds, bikes, quads, tractors etc to rebuild....
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February 4th 2008 at 12:34 PM
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Tredeb
Junior Member
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168 Posts
Group: Members
Member Since: February 26th 2006
Location: Cold Lake, Alberta, Canada
Current Sled: 2009 Crossfire 8 SP
2008-2009 Miles: 300
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Quote originally posted by xcr440
Miss a payment 1 time and see what the % goes up to. On mine it would have went up to 22.5%
That is one thing that people can miss and it can cost huge money.
Another way they get you is all these cards that offer low interest to pay off other debt. The low interest is only anything put on the card in the first month or so. Then they put up the limit and encourage you to use the card. If you put anything else on the card it will be at a higher interest rate. Then you will have to pay all the low interest charges off before you can pay off the high interest charges.
These cards are effective ways to differ payment or get low interest, but make sure you read the fine print and are aware of the situation you may be put into.
2009 Arctic Cat Crossfire 8 SP
1997 Polaris Ultra
1997 Polaris XLT
1998 Yamaha Bravo long track
1983 Yamaha Bravo
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February 4th 2008 at 12:36 PM
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stormrider62033
wally
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4729 Posts
Group: Members
Member Since: December 25th 2004
Location: Gillespie, IL, USA
Current Sled: 99xcr 800
2008-2009 Miles: 500
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they are all like that make it sound good ,first year or so ,you are just paying on the interest ,then bang hit you with those super high payments to pay it off ,it's a gimmick ,probaly wont be doing it for much longer when every thing crashes
mid Il alway's waiting for snow,moving north(way north)2001 thundercat 99xcr 800 97SPX ULTRA 96 zrt 600&800,92 doo plusX 92 v max 4 750
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February 4th 2008 at 2:08 PM
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500fasEnuf
Moderator
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2758 Posts
Group: Moderators
Member Since: May 13th 2002
Location: Regina, SK, Canada
Current Sled: 2008 Dragon S.B. 600
2008-2009 Miles: 0
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Quote originally posted by flylake
My next sled will be a Cat :)
Quote originally posted by PolarisEdge
Actually it isn't Polaris's fault. They buy down the interest rate from HSBC to make it 12.5%.
Just out of "interest" sake I went to the Cat site.... GE Money "Cat" financing is 19.99%.
Whatever the minimum payment is, you pay the same amount of interest no matter what color your sled is.
2008 Polaris 600 Dragon SB, 1.5" Camoplast Intense track, EPI Clutch Kit.
1999 Polaris 500 XC, 1.25" track, EPI Clutch Kit.
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