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Approved with Capital One

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keikdasneak
Regular Contributor

Approved with Capital One

I was denied from my credit union, So i went to Road Loans got approved $18k loan 3500 down and 24% APR! Said no and went to capital one and they approved me for $30,000 @ 11% APR... They sent me an email stating i had to fax my paystub, ID and give two reference.. I am excited!! Does anyone know how long it takes after everything is faxed?

 

Credit scores are below

674 EXP

625 EQ

628 TU

 

Thanks to this SITE!!!

Message 1 of 16
15 REPLIES 15
whudini3000
Established Member

Re: Approved with Capital One

F'n Congrats man! I know its a pain in the ass process, but its all worth it. Glad you got fixed up and good luck!

Message 2 of 16
Anonymous
Not applicable

Re: Approved with Capital One

Hi, and congrats on the auto loan approval!  I went thru Capital One Auto for approval in 3/2010.

 

They requested similar docs as they have for you.  I faxed them in, called an hour or two later to confirm they received them.  They overnighted the blank check to me and it arrived via FedEx the next day.

 

Total amount of time elapsed between application and loan docs in my hand: < 24 hours.  They were great to work with.

 

Side note, I did not end up financing thru them.  The dealership gave me a lower rate (Cap1 @ 8.5, Nissan @ 7.49) 60 month used loan.

Message 3 of 16
nathan
Frequent Contributor

Re: Approved with Capital One

Good point Cardmaster. A dealer will try to beat that rate.

Message 4 of 16
keikdasneak
Regular Contributor

Re: Approved with Capital One

Okay I am really upset, They called me verified all my informations twice, even call my work, but nobody answered... Then wammm i am denied.. WTF has anyone had this case before?

Message 5 of 16
whudini3000
Established Member

Re: Approved with Capital One

no reason for the denial? wtf?Smiley Surprised

Message 6 of 16
keikdasneak
Regular Contributor

Re: Approved with Capital One

NONE at all they said i have to wait for the denial letter.. I dont get it.. Why did they approve me and go through all that processing and then this crap.

Message 7 of 16
whudini3000
Established Member

Re: Approved with Capital One

Im starting to second guess capital one.....

Message 8 of 16
Anonymous
Not applicable

Re: Approved with Capital One

Perhaps a DTI issue...?  That's the only thing I can think of since pretty much everything else is based on what they see on your bureau. 

 

They wouldn't be able to calculate your DTI until they receive documentation to substantiate monthly income.

Message 9 of 16
keikdasneak
Regular Contributor

Re: Approved with Capital One

Yeah but why wouldn't they contact me if they had a problem? Why would they just denie me. My DTI is great tho.

Message 10 of 16
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