HSBC does not have Polaris credit card business as a sole source. Retail credit financing availability for Polaris consumers:
Availability of retail credit financing sources is important to Polaris customers’ ability to purchase the Company’s products. Polaris has relationships with HSBC Bank (“HSBC”), GE Money Bank (“GE”) and more recently Sheffield Financial (“Sheffield”) to provide retail revolving and installment financing credit to United States consumers. During the first quarter 2009, 44 percent of consumer retail credit loan applications from Polaris customers were approved by either HSBC, GE or Sheffield, below the fourth quarter 2008 approval rate of 51 percent; and 31 percent of Polaris retail customers in the United States financed their Polaris product purchases through HSBC, GE or Sheffield, which is consistent with the fourth quarter 2008 penetration rate.
Sheffield Financial provides financing for Polaris, Kawasaki Motors, and American Suzuki. (When HSBC financed purchases from all the above, the purchase was a daily-interest credit card structured account. Sheffield charges a fee for making online payments.)
According to SuperPages, Sheffield reviews are rated only as one star on a scale of one through five where five stars is the best. The company does not appear to be a BBB member.
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