Question on opening another account

[nada9188]

I opened up an AMEX revolving account last month. This month, it turns out my car needs more work than I would like to pay for so I would like to get a new car. 

1. Will I be able to get financing having 1 recent inquiry and 1 new account?

2. Will AMEX flip out if I get a new auto loan?

[JM-AM]

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@nada9188 wrote:

I opened up an AMEX revolving account last month. This month, it turns out my car needs more work than I would like to pay for so I would like to get a new car. 

1. Will I be able to get financing having 1 recent inquiry and 1 new account? 

2. Will AMEX flip out if I get a new auto loan?

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This depends on the rest of your credit profile, but IMO.....

Question 1 = YES

Question 2 = NO

But giving the fact you do not mention any thing else about your credit profile (scores, history, negatives, etc etc) i have to add that YMMV.

[nada9188]

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@JM-AM wrote:

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@nada9188 wrote:

I opened up an AMEX revolving account last month. This month, it turns out my car needs more work than I would like to pay for so I would like to get a new car. 

1. Will I be able to get financing having 1 recent inquiry and 1 new account? 

2. Will AMEX flip out if I get a new auto loan?

---

This depends on the rest of your credit profile, but IMO.....

Question 1 = YES

Question 2 = NO

But giving the fact you do not mention any thing else about your credit profile (scores, history, negatives, etc etc) i have to add that YMMV.

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Thank you

My AAoA is about 1.5 years. Ex fico before the Amex inq or new account hit was at 761. I have no negatives. My income is only 26K. 

[Anonymous]

Amex usually only flips out when they see a TON of inquiries several new accounts combined with the lack of ability to pay their bill. As long as you charge within your means and pay before they bill is due you should be fine. Amex understands people have to drive to get to work so a new auto TL won't hurt their feelings!

[pizzadude]

I think you will be fine,    Also, it may be 30, 60 days or even longer after you close the loan before the new installment TL will show on your CR.

[JM-AM]

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@nada9188 wrote:

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@JM-AM wrote:

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@nada9188 wrote:

I opened up an AMEX revolving account last month. This month, it turns out my car needs more work than I would like to pay for so I would like to get a new car. 

1. Will I be able to get financing having 1 recent inquiry and 1 new account? 

2. Will AMEX flip out if I get a new auto loan?

---

This depends on the rest of your credit profile, but IMO.....

Question 1 = YES

Question 2 = NO

But giving the fact you do not mention any thing else about your credit profile (scores, history, negatives, etc etc) i have to add that YMMV.

---

Thank you

My AAoA is about 1.5 years. Ex fico before the Amex inq or new account hit was at 761. I have no negatives. My income is only 26K. 

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You should be fine with-out having problems. Just do not try to purchase to much car with a salary of 26K. Good luck and enjoy that new car.