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justcallmetj
Posts: 17
Registered: ‎09-02-2012
0

Just got Barclays.. need to go car shopping

Hi ALL!

 

I just received 2 Barclays cards this past weekend, and I've been reading a lot about how Barclays hate's new inquiries after extending a LOC. The thing is, I plan on going car shopping next month/possibly december and I will be app'ing for the best interest rates. I know numerous auto loan app's count as 1 hard inquiry if done within a week or so..

 

Am I looking for trouble? 

Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
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Re: Just got Barclays.. need to go car shopping

I would give them a call and let them know you are going car shopping. They can probably note it on your account, that way they don't question the INQs.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


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Valued Contributor
kevinjjc
Posts: 1,331
Registered: ‎01-14-2009
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Re: Just got Barclays.. need to go car shopping

Even so, I advise you to limit the hard inquiries.
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maiden_girl
Posts: 2,106
Registered: ‎12-29-2011
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Re: Just got Barclays.. need to go car shopping

I don't see why they would care if you already have the cards...

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somnipotent
Posts: 367
Registered: ‎06-02-2008
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Re: Just got Barclays.. need to go car shopping

They could reduce his limits or even close his accounts if they deem him too risky due to the amount of INQs.  Who knows.  Good to be cautious.


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Valued Contributor
maiden_girl
Posts: 2,106
Registered: ‎12-29-2011
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Re: Just got Barclays.. need to go car shopping


Omaplatypus wrote:

They could reduce his limits or even close his accounts if they deem him too risky due to the amount of INQs.  Who knows.  Good to be cautious.


I wouldn't do business with Barclays if that was how they operated. Those are some shady practices.

 

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Just got Barclays.. need to go car shopping

I would not call them, just limit the amount of INQ's to 3 or less.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
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New Contributor
blackstarhatch
Posts: 51
Registered: ‎07-08-2011
0

Re: Just got Barclays.. need to go car shopping

[ Edited ]

I dont even know if calling would help. Barclays is the most schizophrenic CCC I have ever had to deal with. They could close the accounts immediately or nothing at all....who knows YMMV but majority of threads you would find lean towards closure.

 

I would second the limit on INQ's. I went car shopping last year and got ran over with INQ's to the tune of 8 because I didnt remember to say anything. Excitement of a new car clouded my better judgement. It wasnt until weeks after I had my new car that I found out just how many times I had been dinged. Hard lesson learned!

Senior Contributor
jsucool76
Posts: 3,599
Registered: ‎12-11-2011
0

Re: Just got Barclays.. need to go car shopping


blackstarhatch wrote:

I dont even know if calling would help. Barclays is the most schizophrenic CCC I have ever had to deal with. They could close the accounts immediately or nothing at all....who knows YMMV but majority of threads you would find lean towards closure.

 

I would second the limit on INQ's. I went car shopping last year and got ran over with INQ's to the tune of 8 because I didnt remember to say anything. Excitement of a new car clouded my better judgement. It wasnt until weeks after I had my new car that I found out just how many times I had been dinged. Hard lesson learned!


That is because most people don't make a thread titles "BARCLAYS DIDN'T CLOSE MY ACCOUNT!!!"

 

They just get pissed when they recieve AA and make a thread about it. I wouldn't really call it a "shady practice" either...if I was a CCC and someone took 14 inqs after I gave them a credit card, I would feel a little worried...:smileytongue:

Regular Contributor
iCoop
Posts: 173
Registered: ‎05-06-2012
0

Re: Just got Barclays.. need to go car shopping


justcallmetj wrote:

Hi ALL!

 

I just received 2 Barclays cards this past weekend, and I've been reading a lot about how Barclays hate's new inquiries after extending a LOC. The thing is, I plan on going car shopping next month/possibly december and I will be app'ing for the best interest rates. I know numerous auto loan app's count as 1 hard inquiry if done within a week or so..

 

Am I looking for trouble? 


I guess my main question is why did you just apply for two credit cards if you're looking for the best interest rate on an auto loan... You should always hold off on app'ing if you're about to apply for a large loan such as that for an auto loan or mortgage. Save the credit card inquiries for after you have secured the main loan.



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