It's really weird b/c last year I went to trade in my 2004 Honda Civic and purchased a used Acura TL. upon doing so I filled out the credit application with the dealer. I knew I wasnt going to get approved through Honda Financial b/c I was late twice and they hold it against you forever!!
Well I got approved through Citi Financial. About a month later I went back and checked my credit report and saw that the dealership ran my credit through several different lenders which I wasn't aware of. One of those lenders was HBSC. well if anyone has ever been denied credit, you know those letters you get two weeks later from the lender thanking you and then politely saying "no you did not get approved". Well they did not approve me. It's been about a year since I have had this same car. and now I am getting Pre-approval letters from HBSC to refinance my auto loan??? What the hell??
You turned me down last year, now you want me to refinance. And the funny thing, is that the letter tells me they know how much Im paying with my current lender and if I refinance with them I can lower my payment a whopping $20/month and skip one payment.. Whoopty doo. My credit has dramatically changed for the better and I would not go with them even to refinance.
I dont understand how HBSC even has the knowlege of that information?