Should I bother applying with Capital One?

[ineedadvise]

I see all of these people getting approved for Capital One and then using that at the dealer, either knowing that they have an approval or to get a better interest rate. However, I had 2 capital one accounts...One was charged off ($5000) that i paid to a collection agency through a payment plan over 2 years (last pmt was April). The second account was hsbc that Capital One took over about 1.5 years ago. I closed the account a few years back, but have been paying on time for the duration that it was taken over by Capital One. It will be paid in full next month. On the website it says that any Capital One accounts that you have must be in good standing...does this mean that I would not likely get approved if I tried....just curious.

Current scores are:

EQ 632

TU 652

EX 650

[Anonymous]

i have recent experience with cap1 on auto loans.

In my opinion, if its going to be a new car the dealership will be your best option.

Dont bother applying with cap1. Three bureaus hard pull is too much to handle. I have had chargeoffs from cap1 and others when i applied.

it was so much easier at the dealership, i fully recommend it. i was very much at the scores you describe. 

[ineedadvise]

Thank you! I was hoping someone else would have been in similar situation

[Dj4Money]

 The reality is dealers have access to more lenders because not all lenders lend directly to the public (pre-approval).

  I still don't like being at the mercy of dealers who might be forced to sell a car much lower than they want and try to make it up with the finacing knowing you need that help to get the car/truck you want. Nevermind all the INQ's which could hurt applying for other forms of credit before they come off, unless you take your 10-15 hits and go into the gardern.

  But most of us, including me are still building/rebuilding their credit and we'll be applying for new cards or getting line increases down the line and don't want to jeopardize that.