Denied on Capital one auto navigator

[Goeagles1231]

So I was denied by capital one after already having a preapproval with them. The preapproval expired and I reapplied. The letter said too many new installment accounts. The only thing that changed since I was preapproved was that I refinanced a car I had with capital one with a local credit union and I had a collection removed from my account. I would think that having the capital one car paid off would help but I guess not.

[BmoreBull]

Sorry for your denial? Has the car reported paid off to the cb's yet? This might be the issue. Sometimes when you refinance or trade in, you have both accounts reporting fir a brief time. That may be the cause of the too many installment loans code. I would check my reports and see if both loans are still reporting. Good luck. 

[Loquat]

As BmoreBull mentioned it could be that you still have both auto loans reporting but it could also be that lenders are constantly tweaking algorithms...even more so during these interesting times.

What was good today may not be good tomorrow so I would suggest what when you have an opportunity that you strike while the offer is there as they can fade in an instant.