Can someone explain why I got rejected for Capital One auto financing?

[MikeyMagic]

Hello,

So I was curious last month to see if I would be approved and I applied online with Capital One and was rejected.

I got a letter today from Global Lending Services and it told me they did not request a copy of my credit or consumer report. Their decision "on your application was not based on any information that we would have obtained from a credit or consumer reporting agency"

So my credit history is new but if they didn't use my credit history or reports why would I be rejected? What else do they go by?

Thanks.

[Brian_Earl_Spilner]

They could be looking at internal information based on previous cap1 accounts, e.g. blacklists. Or your income doesn't meet their minimum standards. Maybe your reports are frozen or locked?  Just a few examples of why it could have been rejected, not necessarily why you were rejected. 

[MikeyMagic]

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@Brian_Earl_Spilner wrote:

They could be looking at internal information based on previous cap1 accounts, e.g. blacklists. Or your income doesn't meet their minimum standards. Maybe your reports are frozen or locked?  Just a few examples of why it could have been rejected, not necessarily why you were rejected. 

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Thx for the reply. I am not on a blacklist, my income is fine, no accounts are frozen and never had a Cap1 account until mid Sept - when I got my first credit card in over 23 years, a Cap1 unsecured Platinum Mastercard with a $300 CL.

But here's something I just found out, I was looking at my credit reports today from Experian and Transunion and this Global Lending Services for Cap1 auto did a soft pull on the day I applied.

So should I just assume this letter they sent me was BS, and they obv did deny me because they did a soft pull of my credit and realized I have a limited history?

[i4owner]

I did not realize that Global Lending Services was related to Capital One.

[AzCreditGuy]

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@MikeyMagic wrote:

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@Brian_Earl_Spilner wrote:

They could be looking at internal information based on previous cap1 accounts, e.g. blacklists. Or your income doesn't meet their minimum standards. Maybe your reports are frozen or locked?  Just a few examples of why it could have been rejected, not necessarily why you were rejected. 

---

Thx for the reply. I am not on a blacklist, my income is fine, no accounts are frozen and never had a Cap1 account until mid Sept - when I got my first credit card in over 23 years, a Cap1 unsecured Platinum Mastercard with a $300 CL.

But here's something I just found out, I was looking at my credit reports today from Experian and Transunion and this Global Lending Services for Cap1 auto did a soft pull on the day I applied.

So should I just assume this letter they sent me was BS, and they obv did deny me because they did a soft pull of my credit and realized I have a limited history?

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Maybe thats a blessing for you, while my cap 1 card has helped me rebuild my credit, its also a bucket card were the CL doesnt move for me. I feel after 9 years with my card cap 1 should show some love towards its consumers. Nope I wont show love towards them too lol. 

PS global lending services sounds like a CFA

[coldworld]

You should check your local credit union for auto financing options. Up to this point, I've gotten the best rates from NFCU.

[Jeffster1]

@MikeyMagic  

Global Lending Services is a subprime auto loam lender. If you google a little, you will see how people who were denied by Cap One for an auto loan report that they immediately got a pre-qual offer from Global Lending Services

No doubt Cap One has some sort of deal going with Global Lending Services where Cap One sells them leads on people they rejected.