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Valued Member
steelbruin
Posts: 41
Registered: ‎12-06-2007
0

Capital One Auto

Has any one on here gotten approved with Capital One Auto Loan with an unpaid Capital One Charge card charge off on their report? I have 2 Cap One Credit Cards charge offs. One settled and one presently unpaid($800). Credit score approx. 570's presently. One paid in full auto loan $23,000 never late perfect history one open auto loan perfect payment history for 3 years 2 months ($23000 range also) Many Thanks!
Regular Contributor
ChuckG
Posts: 156
Registered: ‎02-21-2008
0

Re: Capital One Auto

About a year ago I was in a bind and needed to buy my mom a car (who had even worse credit than I). I went to the dealer and took whatever loan they could give me on a 3 year old car. Turned out it was from Capital One and was at 18.8% (ouch). At the time I had a score in the mid 500s and one charged off credit card from them from about a year earlier ($1200).

Now here's the funny part. This loan came through the dealership... After 10 months paying on time with them, AND paying off in full the old charged off CC account, AND raising my score to the mid 600s, I tried to get them to refinance the car. I was turned down flat and told that they would not approve me for any amount due to my lack of verifiable income. (I am self employed and was so when I initially bought the car)... So I guess dealerships have a way of getting people approved that wouldn't be approved otherwise?

Either way, I'm getting a re-fi through my credit union next month. I'm done with Cap One for good in all matters of credit.

Starting Score: 556
Current Score: 672, 681, 692
Goal Score: 700, 700, 700


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