Capital One makes no sense!

[Lakesurfer75]

So, about two years ago I bought a new car for my daughter through the capital one auto navigator. At the time my scores weren't the best, but the process was simple and pain free. 

Fast forward two years. All payment on time, often with extra principal. All FICO models at least 70 points higher. Massive pay increase (45%). I try to do the navigator, and capital one cannot approve me. Um, **bleep**?!

Now im on the verge of prime rate territory. Scores poking above 700 (depending on model and bureau). I have other options.  But I liked the soft pull check of an interest rate before looking with anywhere else. And I understand the car market is weird still, but... why a flat denial?  

For the record, I don't need to replace my car currently. I like having it paid off and am driving it till it dies. But when it does (it's approaching 300k miles), I want a solid plan and expectation, and thus like to keep tabs on my expected rate. 

[pizzadude]

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@Lakesurfer75 wrote:

So, about two years ago I bought a new car for my daughter through the capital one auto navigator. At the time my scores weren't the best, but the process was simple and pain free. 

Fast forward two years. All payment on time, often with extra principal. All FICO models at least 70 points higher. Massive pay increase (45%). I try to do the navigator, and capital one cannot approve me. Um, **bleep**?!

Now im on the verge of prime rate territory. Scores poking above 700 (depending on model and bureau). I have other options.  But I liked the soft pull check of an interest rate before looking with anywhere else. And I understand the car market is weird still, but... why a flat denial?  

For the record, I don't need to replace my car currently. I like having it paid off and am driving it till it dies. But when it does (it's approaching 300k miles), I want a solid plan and expectation, and thus like to keep tabs on my expected rate. 

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It's hard to guess without knowing the specifics of your situation but perhaps they'll mail you something with denial reasons soon.

If they financed your loan two years ago perhaps it's a Cap1 restriction on having more than one open auto loan at a time ?    Or DTI related?

Again, I'm just speculating but I'd assume they'll give you some feedback eventually. 

[fury1995]

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@Lakesurfer75 wrote:

So, about two years ago I bought a new car for my daughter through the capital one auto navigator. At the time my scores weren't the best, but the process was simple and pain free. 

Fast forward two years. All payment on time, often with extra principal. All FICO models at least 70 points higher. Massive pay increase (45%). I try to do the navigator, and capital one cannot approve me. Um, **bleep**?!

Now im on the verge of prime rate territory. Scores poking above 700 (depending on model and bureau). I have other options.  But I liked the soft pull check of an interest rate before looking with anywhere else. And I understand the car market is weird still, but... why a flat denial?  

For the record, I don't need to replace my car currently. I like having it paid off and am driving it till it dies. But when it does (it's approaching 300k miles), I want a solid plan and expectation, and thus like to keep tabs on my expected rate. 

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It's something in the application.

There must be a typo or something.

Cap One Auto Navigator nearly always counters with something.

I'm guessing you'll get a request to verify something.

[CreditCuriosity]

Auto loans are also up alot as well due to defaults, inflation, economic conditions, etc meaning higher FICO scores are required, lower DTI, etc..  Could be many things although we need a bit more information such as your DTI among other things.

[Jnbmom]

I had a weird experience with them A few years ago I was looking for a car loan high 700s 2% utilization etc . Cap one flat out denied me yet I was approved with ever other lender NFCU, Penfed a few other credit unions but went with citizens bank .

They just don't like my profile and I am ok with that as I am not a cap one fan lol.