Trainer D. Wayne Lukas then entered her in the Grade II Landaluce Stakes, where she finished 8 ½ lengths off of the lead in seventh place.
Lukas then shipped her to Belmont Park to run in the Grade I Matron Stakes, where she finished second by a neck to Golden Attraction after going wide on the final turn.
In the Breeders' Cup Juvenile Fillies, Cara Rafaela stalked the lead and lost to My Flag, daughter of the champion mare Personal Ensign, by half a length.
A month later, in December of her two-year-old year, she closed out her season with a victory in the Grade I Hollywood Starlet, beating Advancing Star by a head.
Entered in the Grade III El Camino Real Derby as the favorite, she placed fourth, less than three lengths behind the winner.
Her 1999 Storm Cat filly, Ile de France, was a grade 1 placed winner, and went on to be a black-type producer like her mother.