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

Established Member

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)

Message 1 of 5
4 REPLIES
Super Contributor

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

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 5
Established Member

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?

Message 3 of 5
Super Contributor

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....

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 5
Highlighted
Valued Contributor

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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