I applied for an auto loan refinance due to the low rates starting at 3.49%. After jumping through a few hoops, I was told I was pre-approved for the refinance. I was also told I could drop another 1/4 point if I applied for a Visa credit card with them. Although I did not need a credit card I agreed. I was asked to come into the Clearfield branch to complete the paperwork. I came into the branch a couple days later. I brought in my proof of income documentation as they requested. I answered questions, applied for the Visa card, and provided documentation for nearly 30 minutes before the paper work was completed. Upon completion of the paperwork, I realized I had qualified for a rate over 11.5%. This is a few points HIGHER than the loan I was trying to refinance. I assumed my credit had improved enough to "pre-qualify" the low rate that was advertised. I understand that I am responsible for my credit score and I understand it was not good enough for the lower rate. The part I can't understand is why they were going to refinance me with a much higher interest rate than I already had. And as an added bonus, I had to apply for a Visa card to get this higher rate? Very frustrated about the time and effort I put into this. A simple decline on the loan application would have been far better.