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

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 ?

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Filed under: Credit Used cars Car loan
Attorney answers 1


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. We have not established an attorney-client relationship unless we have a signed representation agreement and you have paid me. I am providing educational instruction only--not legal advice. You should speak with an attorney to whom you have provided all the facts, before you take steps that may impact your legal rights. I am not obligated to answer subsequent emails or phone calls unless you have hired me. I wish you the best of luck with your situation.

Rixon Charles Rafter III

Rixon Charles Rafter III


I sent w/o finishing....take your contracts with the CU to your CU, and discuss... You're a member, not a customer. Make them explain it to you.



Hi Rixon, I may have been unclear on my post. Let me explain better. I had originally applied for an auto loan and a visa card via my credit union's webpage. Both loans had been approved for over a week before we started car shopping. The credit union even explained the terms and steps to purchase the vehicle and gave us directions to bring in the purchase order for the vehicle once we picked it out so that they can process the documents and cut the check for the dealership. We live in Oregon and were shopping in Idaho, so we didn't want to make multiple trips back and forth. Upon finally picking out the vehicle we took the purchase order into the credit union and were told that the loan processor was busy so that we would have to come back the following week. We decided to secure the financing via the dealership so that we wouldn't have to come back to Oregon and then come back to Boise to pick up the vehicle. The dealership submitted our application and the same credit union picked up the loan with the same rate and terms. However the next day the credit union called to advise me that they decided to decline our visa and auto loan that we had been approved for via their website. The branch manager called me via my cell phone and left me a message right as she was closing and also advised me of the reason's she was declining the visa, but earlier she had already approved both loans. Now the dealership stated that they had a hard approval from the credit union, so what I am unclear of is whether they will be canceling the dealership approval (dealership contracts already signed) or just the visa and the auto loan that we secured directly with the credit union's website? Thank you for your help, it's greatly appreciated .

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