Capital One Blank Check

[gymbo]

We have not filed BK yet but our credit is not very good due to late mortgage payments.

We applied on line last week and were approved for a Capital One Blank Check... 6.44% for 60 mos (on a 2008)
The terms of the loan were very clear (interest rate dependent on year of car, length of loan, etc.) and the check was in hand in 2 days. We used it and I have a new car. The windows roll down and everything. (haha) Until the minute I drove away I worried it would not happen. But it did.

FYI Our Credit Union with which we had 2 current auto loans (current on payments and no lates ever) quoted us 11.49%. From reading on this site I knew there were people who got better offers than that AFTER filing BK so I said ... no thanks. Blank check worked for us. And I read all of the fine print.

[HopeFaith]

They still won't approve me, and I've never BK'd them. I also have had a blank check loan and several CC's in the past (2-3 years ago), that were all on-time payments and paid in full. They gave me a $2500 CC a few months ago, and are sending me more pre-approved card offers... but no auto loan :-(. Any thoughts on why?

[keepmine]

Your DTI ratio may be a reason.