Capital One Pre-Approval=FAIL

[joy1979]

Last month I received a "pre-approval" from Capital One. Well I decided to wait to apply until I got a couple things paid off. I was able to pull my file and see everything is posted as I expected so I went ahead and applied. I was denied right away.  I do have a rebuilding card with them which I utilize but always PIF monthly so I don't understand what the problem is. The e-mail they sent said I'd get a letter stating the reasoning behind the decision.

I'm just curious to find out if this has happened to anyone else?

[keikdasneak]

was this for a auto loan?

What negatives do you have on your credit ?

Any past auto loans before?

[joy1979]

Yes, I applied for an auto loan. I have a CH 7 that was discharged in 2002. The only other negative was a collection in 2009. Which I paid March 2010. The credit agency never updated my credit reports. Currently I have showing on my reports 11 open credit cards 3 with open balances. I'm at about 20% utilization. My student loan is reporting postively. I did have a auto loan which I paid off in 2005.

Thanks for your input.

[Anonymous]

I think that capitol one thing is a marketing gimmick.  I've gotten tons of those for over a year.  When I finally was ready for a new car.  Denied for no mortgage.

I think dealerships pay capitol one to send that to all the people that have cap 1 cards in certain zip codes.  You could go to the dealership that is listed on the pre approval form.   

I would try Nissan motor acceptance they gave me 2.9% for 72 on a 620 TU.  

[joy1979]

Yes, that's what I'm thinking. I know one thing I'm putting away their credit card, because I've been too good of a customer for them to pull such a stunt!