Good chance of getting approved?

[Anonymous]

I will be as detailed as possible here, so hopefully someone can give me insight.

I haven't pulled all 3 scores yet, as I want to wait until right before I am ready to buy at the end of January. A month ago I got a new job (same field, but much better pay) and had to buy a new computer (not a cheap one) so I applied for three credit cards (got approved for two) and filled them both up to buy the computer.

2 months ago my experian score was 702, and I just got my free transunion score (through my credit card's site) and it is 615 as of last week! I am going to assume this is because I applied for those 3 cards and filled the two i got approved for. I had a bankruptcy 3 1/2 years ago.  Since then I have gotten a jewelry store card (which i filled up and paid off twice), a lowes card (which has been filled and paid off 3 times), and a best buy card (which has been filled and paid off twice and is now almost full but being paid off). The two new credit cards will be paid off soon, one this week and the other probably by january 1. The best buy card will be paid off two weeks after that.

That said, any chance of me getting approved at the end of january/beginning of february (looking at honda right now)?

I am planning on having $1200 down with no trade (my current car is probably worth $500 private party!) for a $19K car. My income is $38k.

I have no clue how long it takes for those cards being paid off to show up in my report and reflect on my score, but at that time I will have 5 open lines of credit totalling $4600 with zero balances. I think a year ago when i got all 3 scores they were between 670 and 690 (my 3 cards were 3/4 full at the time too). I assume that paying off my new cards will really increase my scores but how long will it take to show on my reports? Will those 3 new inquiries hurt me as well? 

[Anonymous]

The loss of score can most be attributed to the two cards being maxed out........by January if they are paid in full your score will probably rebound to the high 600's.

The 0 balances hit on the next statement date after they are paid off...so wait to apply for the car loan after you get your statements showing $0 due for the next payment.

[Anonymous]

Cool. Like I said, they should all be paid off within the next billing period, as the current billing period is just ending. I waited on paying anything on them because I wanted to make sure they showed a high balance before showing no balance, so that in my history it would sow that I actually maxed them and paid them rather than looking like they never had a high balance. Hopefully that was a good decision. I may even wait a little longer and see if my tax returns come in to put more down, i'll have to wait and see on that.

So does changing jobs have any effect on decisions or do they pretty much only look at current income and credit history/score?

I am 30 years old but this will be my first auto purchase from a dealer.I have always bought old cars and I am frankly tired of wondering when the car will break down again.

[Anonymous]

They don't care how long you have been at your job. 

I bought a car less than 30 days after starting a new job and they didn't care....heck I still had an out of state driver's license at the time too.

[Anonymous]

The job change shouldn't have a major effect since you stayed in the same field.  This assumes that you were at your last job for a decent amount of time.

[Anonymous]

yeah, i was at my last job 3 1/2 years