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Capital One Blank Check - Approved!

Established Member

Capital One Blank Check - Approved!

 
Message 1 of 12
11 REPLIES
Super Contributor

Re: Capital One Blank Check - Approved!

 

Congrats on the approval !!   Do you know if Capital One pulled all three CRs for your approval ?

 

Most lenders give you a better interst rate for new cars because older cars may represent a higher risk to loan money against, as they may incur more repairs, depreciation, etc...

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 12
Established Member

Re: Capital One Blank Check - Approved!

 
Message 3 of 12
Super Contributor

Re: Capital One Blank Check - Approved!

 

The good news is that as you pay down your CC debt, your FICO score will improve as your utilization decreases, so hopefully this means you get a better deal when you pull the trigger on a new car.

 

Most lenders will accept payments against the principal, but be sure to read the fine print of your contract before you sign, because there may be some an exception, based on the timing and method of your payment, such as if you send it in seperately versus including additional monies in your monthly remittance.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 12
Frequent Contributor

Re: Capital One Blank Check - Approved!


pizzadude wrote:

 

The good news is that as you pay down your CC debt, your FICO score will improve as your utilization decreases, so hopefully this means you get a better deal when you pull the trigger on a new car.

 

Most lenders will accept payments against the principal, but be sure to read the fine print of your contract before you sign, because there may be some an exception, based on the timing and method of your payment, such as if you send it in seperately versus including additional monies in your monthly remittance.


+1

TU Auto enhanced FICO (9/2012): 744
EX FICO (8/2012): 748
EX FICO (6/2010): 739
Message 5 of 12
Established Member

Re: Capital One Blank Check - Approved!

 
Message 6 of 12
Member

Re: Capital One Blank Check - Approved!

OP if you don't mind me asking, what is your annual income?


Starting Score: 679
Current Score: 721
Goal Score: 800


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Message 7 of 12
Established Member

Re: Capital One Blank Check - Approved!

 
Message 8 of 12
Established Contributor

Re: Capital One Blank Check - Approved!

Congratulations on your loan. I was also approved for a CapOne blank check but I did some online research and found a few too many complaints from individuals with CapOne auto loans. I ended up going with my local CU, got a better interest rate and great service. It will be great to have your CapOne blank check as back up when you go car shopping but you may be able to get a better interest rate from your local CU or the car dealer. Remember that inquires within a 14 day period for the same type of loan only counts as 1 inq as far as your FICO score is concerned. Makes considering looking for other options tempting!


BK in January 2008---Barclay's Apple Financing Card ($10,000) --- Capital One Quicksilver ($13,000)--- Platinum Delta Skymiles ($29,500) --- GEMB CareCredit ($10,000) --- AUFCU ($10000)---Discover IT ($28,000)

Experian 746 Transunion 806-- July 2017
Message 9 of 12
New Member

Re: Capital One Blank Check - Approved!


eugenepark81 wrote:

I'll be applying with Capital One again when the time comes.  Is there any fine print that I should be aware of before moving forward with a Capital One Blank Check loan?

 

-Eugene


(For anyone who is actually still looking at this thread)

 

Yes; the blank check can only be used at dealers authorized to use it found via their dealer locater at the Capital One website.

 

http://applications.capitalone.com/jsp/dealerlocator/

 

Dealers not listed in their database will not accept the check and cannot use it. You can always call their customer service department (from one of the documents you get in the mail when the blank check arrives) just to confirm the dealership's status.

Message 10 of 12