I had applied for an auto loan and a visa card through my credit union and they approved both loans.

Asked over 1 year ago - Baker City, OR

Both loans had been approved for over a week . The credit union called me went over terms said that we need to shop bring in a purchase order for the vehicle they will cut a check also that we will receive our visa in two weeks . They told us not to apply for credit via the dealership . We got a car & the credit union did not cut the check because the processor was busy we had been shopping out of state ( Boise ID ) we live in Oregon . We decided to purchase via the dealership so that we didn't have to come back the loan was picked up by the same credit union w / the same interest . The credit union called the next day to say that they canceled our visa & the auto loan that we applied via INTERNET . They gave the dealer a hard approval so can they cancel the loan via the dealer that they approved ?

Attorney answers (1)

  1. Rixon Charles Rafter III

    Contributor Level 20

    Answered . I found you post a bit difficult to follow...if I understood, your CU told you your loan was approved, so to the credit card, with the caveat that you not dealer finance. You then dealer financed, against CU expressed qualification, and the CU cancelled theVisa? Is that right? Did you read the written terms if the CU loan or Visa?

    READ THIS BEFORE CALLING OR EMAILING ME: I am licensed to practice before the state and federal courts in Virginia.... more

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