06-29-2013 10:05 AM - edited 06-29-2013 11:56 AM
I will try to keep the story short
over 10 years ago I had a capital one card with only a 2500 limit I had about 1500.00 on it and they cancelled my card( I was never late on a payment, I just made the min payment always). They ended up charging it off and 3rd partys tried to collect on it..
fast forward 10 years
I have been building my credit over the last 2 years now and am looking to get a ATV from a local dealer here....He says they use capital one for financing ...
My question is will this hurt my chance at a loan with them now? my scores are all around the 700 mark....
thanks for any input
06-29-2013 11:22 AM
It might, I don't know that there's any hard and fixed rule as it varies by lender and I don't know Capital One's policies at all on this.
Failing anyone else chiming in, may have to bite the bullet; however, non-trivial chance that Cap One credit cards and their secured financing arm (auto, other in this case?) may be completely independent as well. If it's still on your credit reports, figure it'll come into play somehow... if it's not, YMMV.
Unfortunately I'm not sure there's any more clear response available, fact is you should be prepared to discuss it as it's certainly possible.
06-30-2013 05:02 AM
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