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CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

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Regular Contributor

CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

I've been recieving these type of offers for some time now but never thought too much of it because I just purchased my new car last year in March(18). Very curious to see if this is just marketing or a target offer. I have a cc with Capital One but no other relationship. Letter state that I'm pre approved for 10-40k at a particular local dealership. Has anyone else had these type of offer. Were they for real or just to get you in the dealership. Again it said pre approved not pre qualify. Thanks in advance if I dont respond to everyone. STAY BLESSED!
CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 1K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
12 REPLIES 12
Valued Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

I did one in June but I didn't see a set limit.  All I know is I could go online and shop around and it would tell me what my pymt. would be.  I found some new trucks and it showed I did not qualify for them when I tried to get a monthly pymt. hth

"LEAVE A MESSAGE AT THE BEEP"
Message 2 of 13
Regular Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

@LauraC - Interesting, did you end up using the pre approval to purchase?
CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 1K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
Message 3 of 13
Valued Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

No, couldn't find a utility work truck in our area.  They were 3 or more hours away.  The fancy trucks I looked at here locally I did just out of curiosity.  Way too much for my blood.

"LEAVE A MESSAGE AT THE BEEP"
Message 4 of 13
Regular Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

Appreciate it for chiming in!
CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 1K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
Message 5 of 13
Valued Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

This is weird...the timing anyway.  Just got this email:  (from cap1)

 

because we appreciate your loyalty, you're invited to pre-qualify for auto financing with no impact to your credit score

 

 
"LEAVE A MESSAGE AT THE BEEP"
Message 6 of 13
Regular Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

Prequalify or preapproved?
CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 1K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
Message 7 of 13
Valued Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

No, pre-qualify.  However, last time I went to them for the pre-qual and was approved. Dh too.  I think that's a good sign I even received this offer to pre-qual....maybe a good sign, idk.  Not gonna do anything with it though, doubt I'd find what we need around here, used anyway and affordable on top of that.

"LEAVE A MESSAGE AT THE BEEP"
Message 8 of 13
Regular Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

Definitely good to know, I dont need another vehicle but I was wondering what the details of those type of letters were.....
CSP 17.8K
CHASE FU 7k
BECU VISA CARD 13K
BECU LOC 10K
CONNS(SYNCHRONY) 10K
MY JEWELERS 5K
NEW COAST DIRECT 5K
REGIONS PLATINUM 4K
BBT CASH REWARDS 3.5K
BBT TRAVEL 3.5K
PFU(ELAN FINANCIAL) 2K
CAP1 QS1 1.5K(closed GONE)
DISCOVER IT 1K
KAYS 1K(closed GONE)
NFCU CASH REWARDS 4.5k
CREDIT ONE 500(closed GONE)
OPENSKY 300(closed GONE)
DISCOVER(AU) 38.6K
CITI(AU) 12.5K

INCOME = 207K

Score for Fico are: Oct. 2019 Util 5%
Eq= 689
Trans= 719
Ex= 692
Inquires in last 24mths(Aug19)
Eq= 15
Trans= 12
Ex= 17
Accounts in Last 24mth= 19 6mths= 8(Aug19) 4 accounts have been closed
Car Loan= 1
Installment Loans= 5
CC= 12
4 AU accounts for AAoA since I have so many accounts(lol)
(1)10yrs, (3)8yrs
Message 9 of 13
Contributor

Re: CAPITAL ONE PRE APPROVAL WITH RANGE LIMIT

I received this and contacted the dealership. The sales manager told me he could get me approved with better rates from another lender. At that point I just felt as if it was a way to get me in. Told him thanks and never went in






Gardening until 09/2021
Message 10 of 13
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