Hard Credit Inquiry

[ozjulian]

How fast does credit inquires post?

I plan to app after midnight then apply for car loan the same day

[mongstradamus]

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@ozjulian wrote:
How fast does credit inquires post?

I plan to app after midnight then apply for car loan the same day

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they appear almost instantly since its all done by computers nowadays. 

[jamesdwi]

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@mongstradamus wrote:

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@ozjulian wrote:
How fast does credit inquires post?

I plan to app after midnight then apply for car loan the same day

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they appear almost instantly since its all done by computers nowadays. 

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+1 

yeap they are instantaneous....  other lenders want to know you are looking for credit before they give you credit.

[B335is]

Get the car loan in place first. The cards will continue to be here tomorrow!

[mongstradamus]

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@B335is wrote:
Get the car loan in place first. The cards will continue to be here tomorrow!

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indeed , card offers will be back again :-)

edit: you don't want to have to pay more interest on an loan because you applied for an few cards before getting auto loan. 

[s_haliz]

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@ozjulian wrote:
How fast does credit inquires post?

I plan to app after midnight then apply for car loan the same day

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Here's the situation: 

If let say your CC provider do Hard Credit Inquiry from EX and your car provider chose to do from TU or EQ, car provider won't see the inquiry from EX. But nothing is guarantted, and if you are not lucky enough, both parties may pull from same credit agency...

I would go by what others had advised: Car loan first followed by CC. 

[ozjulian]

I'm going to get car loan now.

I don't really need a card, I just miss the rush when you get approved. I know it sad.

[s_haliz]

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@ozjulian wrote:
I'm going to get car loan now.

I don't really need a card, I just miss the rush when you get approved. I know it sad.

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Others may chime in......But actually I would wait about 1-2 months before applying CC after loan. That would actually help you since lender would see that you had car loan and you are making payment....I think it would boost score a bit....

[Creditaddict]

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@s_haliz wrote:

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@ozjulian wrote:
I'm going to get car loan now.

I don't really need a card, I just miss the rush when you get approved. I know it sad.

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Others may chime in......But actually I would wait about 1-2 months before applying CC after loan. That would actually help you since lender would see that you had car loan and you are making payment....I think it would boost score a bit....

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actually true... I was approved for Chase after I got my car loan, I think the internal computer liked it! I had been denied a few months back.

[s_haliz]

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@Creditaddict wrote:

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@s_haliz wrote:

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@ozjulian wrote:
I'm going to get car loan now.

I don't really need a card, I just miss the rush when you get approved. I know it sad.

---

Others may chime in......But actually I would wait about 1-2 months before applying CC after loan. That would actually help you since lender would see that you had car loan and you are making payment....I think it would boost score a bit....

---

actually true... I was approved for Chase after I got my car loan, I think the internal computer liked it! I had been denied a few months back.

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Somewhere I read that variety of debt (CC, car loan, mortgage, etc.) increases your score vs. you had let say just CC debt. Lenders like to see how do you handle them. And if all of them are "paid as agreed" then you would increase your odd of approval and also low APR and high CL.