Open Accounts Convert to CNH Capital
Commercial Revolving Accounts
Effective December 15
Frequently Asked Questions
Is this Commercial Revolver Account (CRA) only good at this dealership?
Does this change prohibit me from using another form of payment to make my purchase?
What is this all about? Who is CNH? Why are you making this change and eliminating “open accounts” to have accounts established with CNH Capital?
CNH Capital is a credit arm of Case/New Holland. This system allows dealerships to establish open accounts, for their customers with CNH, under the Commercial Revolver Account program. The Commercial Revolver Account (CRA) provides both periodic financing promotions and flexible repayment terms which can help to maximize your cash flow throughout the year. The program is advantageous for the dealership as well since it enables them to keep their service and prices competitive.
No, this account program, with its standard credit application/documentation requirements, approval process and stated account terms and conditions, is essentially no different than any other “open account” process that you would expect to find.
Is this Commercial Revolver Account (CRA) only good at this dealership?
Your CRA is good at all participating CNH dealerships.
Why would I want to have a CNH Commercial Revolver Account? How is this better for me then using my Rewards Visa Card?
The CRA is a dedicated line of credit for all your parts, attachments and other related services offered at any CNH dealership. This buying power combined with the option for no payment and special offerings with no interest and low APR promotions allow you to maximize cash flow for your CNH purchases while keeping your credit cards available for other purchases, as needed.
Does this change prohibit me from using another form of payment to make my purchase?
Certainly not. Alternative forms of payment such as cash, qualified checks/ credit cards, wire transfers, etc. are always acceptable. The only change is that we will no longer offer in-house open accounts.
Why do I have to fill out a new credit application or sign the pre-approval form when I have been doing business with you for years? How does completing and signing the credit application or pre-approval form help me?
Everyone understands the need to operate under prudent business practices. Regardless of who the creditor is (in this case CNH Capital), an open account status does require a signed credit application or pre-approval form. Additionally, completing this application/signing the form is required to take advantage of the financing promotions and flexible repayment plans periodically offer by CNH. Completing this application also provides CNH the ability to review the account for the possibility of a higher credit limit.
What will happen if I choose not to sign the pre-approval form or complete and sign the CNH credit application?
Accounts parameters will be determined by CNH Capital at the time of the account transition from Hi-Way to CNH Capital. Without a signed pre-approval form or credit application submitted the account limits could be reduced or minimized over time. Additionally, any financing promotions or flexible repayment plans offered by CNH will not be available on that account.
What is the standard interest rate charged on a balance transferred to the CRA and how can I get the lowest rate available?
The customer will need to complete a credit application or if pre-approved sign the pre-approval form in order to have the interest rate on any transferred balance, carried beyond the due date, lowered from 9.9% to 6.9%.
Invoices and Statements – where are these generated and when are they sent? Where do I go with questions or issues on my account?
Invoices will be generated and sent to the customer by the dealership. Statements are sent out monthly by CNH. Questions about invoicing or other issues regarding any parts or services provided should be directed to the dealership. Any inquiry concerning your monthly statement or payment arrangements should be made to CNH.
All payments should be sent to the remittance addressed provided on the CNH statement.
