Capital One "Memory"

[MrsCHX]

I was denied twice via the prequal auto navigator while seeing my scores improve and getting other credit.

I was approved with a couple of lenders and bought my car last week.

My last auto loan was with Capital One. Repossessed in 2009 and subsequently charged off.

Could this be why Cap One wouldn't finance me for an auto loan??

I know approvals are based on the whole file but I've seen people get approved through Cap One with worse scores so wondering if this is possible the issue.

[nycplayboy78]

Your whole credit file includes loan history with lenders and if Cap1 was burned by your Repo in 2009 I would think that would be the if not only basis for their denial of credit to you.

[Anonymous]

Well this just answered my question in my new post. I won't bother applying with them. I had a repo in 07 that was turned over to collections. I think I'll go with my local credit union. 

[Anonymous]

Absolutely a burned car loan within the past ten years 'could' be a factor in not lending on yet another car (09 isn't that far back)

Seems like in the denial letter the past repo 'might' be one of the listed negs no?

You may want to ask them out right 'hey does my past repo, prevent a car loan and for how long'...if it's forever at least you know.

There are some lebders that are like that, I've heard some that will shut down the app, which is what you'd prefer, asnot to burn a HP on a

company that really isn't gonna consider your app in the 1st place.

To me no big deal, if you choose not to do biz with me EVER again but at least tell me before you run credit for NOTHING!

I'd dispute the HP, if it were me

*BTW ...of course they beter have 'memory'...if not it'd be stupid, what institution wouldn't keep records...it's too easy in the computer age.

I called AmEx a few weeks back...just checking on 'specials' and the girl reminded me on my last account from 19 freaking 91 ...yeah they have a 'memory'

[RonM21]

YEs, burning a lender, depending on who it is, can be the reason. I've heard that they can score you a certain way internally for a period of time they decide that could automatically deny you.

[surferchris]

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@Anonymous wrote:

Absolutely a burned car loan within the past ten years 'could' be a factor in not lending on yet another car (09 isn't that far back)

Seems like in the denial letter the past repo 'might' be one of the listed negs no?

You may want to ask them out right 'hey does my past repo, prevent a car loan and for how long'...if it's forever at least you know.

There are some lebders that are like that, I've heard some that will shut down the app, which is what you'd prefer, asnot to burn a HP on a

company that really isn't gonna consider your app in the 1st place.

To me no big deal, if you choose not to do biz with me EVER again but at least tell me before you run credit for NOTHING!

I'd dispute the HP, if it were me

*BTW ...of course they beter have 'memory'...if not it'd be stupid, what institution wouldn't keep records...it's too easy in the computer age.

I called AmEx a few weeks back...just checking on 'specials' and the girl reminded me on my last account from 19 freaking 91 ...yeah they have a 'memory'

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LOL..too funny (your post).