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Established Member
-twice-
Posts: 22
Registered: ‎12-16-2012

Mini App Spree right after Closing...but right before a Car

I am scheduled to close on my home in late May/Early June.  I have avoided doing anything to my credit (other shopping loans) since I started building the home last Sept..  After closing I need to buy a new car and get a few cards (app spree?), but I am not sure if there is a best order to do these, or whether they will dramatically affect my ability to refi in the next year (after I get my score up to 700).

 

Right now I am thinking that the day i close I should Mini App Spree (Navy Fed Rewards, NavCheck, Amx), then head to the dealership.  What I don't know is how long the inquiry's will my score, and/or I am better off on a minispree after the car loan app.  

 

ANY advise is GREATLY appreciated!

 

Current Scores (NFCU pull): 702, 662, 655

Badies: Auto Loan Charge off in 2005 (EQ & TU)

Current Card: Capital One ($500CL)

Income: 128K

Loans: Auto (15k), Student (14K), House (430K)

Community Leader
Valued Contributor
myjourney
Posts: 23,618
Registered: ‎02-07-2013

Re: Mini App Spree right after Closing...but right before a Car


-twice- wrote:

I am scheduled to close on my home in late May/Early June.  I have avoided doing anything to my credit (other shopping loans) since I started building the home last Sept..  After closing I need to buy a new car and get a few cards (app spree?), but I am not sure if there is a best order to do these, or whether they will dramatically affect my ability to refi in the next year (after I get my score up to 700).

 

Right now I am thinking that the day i close I should Mini App Spree (Navy Fed Rewards, NavCheck, Amx), then head to the dealership.  What I don't know is how long the inquiry's will my score, and/or I am better off on a minispree after the car loan app.  

 

ANY advise is GREATLY appreciated!

 

Current Scores (NFCU pull): 702, 662, 655

Badies: Auto Loan Charge off in 2005 (EQ & TU)

Current Card: Capital One ($500CL)

Income: 128K

Loans: Auto (15k), Student (14K), House (430K)


IMO if you need the car I would do that first for best loan rates and cards after but shop around for rate so you don't get a lot of pulls

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it
Established Member
-twice-
Posts: 22
Registered: ‎12-16-2012

Re: Mini App Spree right after Closing...but right before a Car

Thanks.

 

I know I should app for both the NFCU accounts, but any other recommendations on where it makes sense to apply?

Community Leader
Valued Contributor
myjourney
Posts: 23,618
Registered: ‎02-07-2013

Re: Mini App Spree right after Closing...but right before a Car


-twice- wrote:

Thanks.

 

I know I should app for both the NFCU accounts, but any other recommendations on where it makes sense to apply?


NFCU is an all in one stop shopping with great rate and limits

After that it depends on what card you would get the best rewards from be it cash back or miles....

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it
Valued Contributor
indiolatino61
Posts: 1,429
Registered: ‎11-10-2012

Re: Mini App Spree right after Closing...but right before a Car


-twice- wrote:

I am scheduled to close on my home in late May/Early June.  I have avoided doing anything to my credit (other shopping loans) since I started building the home last Sept..  After closing I need to buy a new car and get a few cards (app spree?), but I am not sure if there is a best order to do these, or whether they will dramatically affect my ability to refi in the next year (after I get my score up to 700).

 

Right now I am thinking that the day i close I should Mini App Spree (Navy Fed Rewards, NavCheck, Amx), then head to the dealership.  What I don't know is how long the inquiry's will my score, and/or I am better off on a minispree after the car loan app.  

 

ANY advise is GREATLY appreciated!

 

Current Scores (NFCU pull): 702, 662, 655

Badies: Auto Loan Charge off in 2005 (EQ & TU)

Current Card: Capital One ($500CL)

Income: 128K

Loans: Auto (15k), Student (14K), House (430K)


Do whichever is more important for you to have...the credit or the car.

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