Reply
Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012
0

New Inquiries - There Goes My Poor Gardening Status :(

[ Edited ]

Well folks, I had to cave in and get a new car. To the best of my knowledge All American Chevrolet only sent my information to 3 Banks, so hopefully that's all the inquiries I'll receive. So far 3 new ones have shown up on TU and 2 on EX. Even though I was instantly approved for all of the lenders they still sent it to 3 :smileysad:

 

I told them I didn't want them "rate shopping" lol, but I guess that's wishfull thinking. I got $20,000 @ 4.89% so I'm pretty happy with that. Gardening paid off once again.

 

But here is my concern. I know compared to some 3 inquiries isn't that much and I'm not certain that they coded them as Auto Inquiries (hopefully so) But...

 

Do I need to worry about my credit card lenders freaking out over the new inquiries or car loan account showing up on my CR?  Currently Out of the 5 cards I hold, Discover has a $931 balance (still in 0% intro period until May 2014) and Walmart I think has like a $30 balance. All others are at $0 balance.

 

Oh btw, I got a 2012 Chevrolet Cruze Eco :smileyhappy:


border="0" align="left" width="450" height="90">
Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012
0

Re: New Inquiries - There Goes My Poor Gardening Status :(

Congrats on the new car :smileyhappy:

I would not sweat the 3 pulls if I were you!!

*8/10/13
Established Contributor
JonStur
Posts: 905
Registered: ‎12-25-2010
0

Re: New Inquiries - There Goes My Poor Gardening Status :(

It shouldn't be a big issue. If there was a flurry of new credit card apps maybe they would raise an eyebrow but that's not the case. Actually you should consider yourself quite lucky.... I know people that caught 10-15 inqs. from a dealer rate shopping....


Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012
0

Re: New Inquiries - There Goes My Poor Gardening Status :(


JonStur wrote:

It shouldn't be a big issue. If there was a flurry of new credit card apps maybe they would raise an eyebrow but that's not the case. Actually you should consider yourself quite lucky.... I know people that caught 10-15 inqs. from a dealer rate shopping....


Yah, that's true, I actually told their credit manager that I knew of folks that had been done that way and I wanted to be sure they didn't do that to me.  He acted like he had no idea what I was talking about...hah, yah right.  But I guess 3 isn't too bad....Just want to make sure, I suppose people have to have vehicles, I'm sure most creditors are used to seeing auto loans pop up on people's reports. right? Just trying to convince myself :smileyhappy:


border="0" align="left" width="450" height="90">
Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012
0

Re: New Inquiries - There Goes My Poor Gardening Status :(


dodfire wrote:

Congrats on the new car :smileyhappy:

I would not sweat the 3 pulls if I were you!!


Thanks a bunch, and thanks for the reassurance! :smileywink:


border="0" align="left" width="450" height="90">
Moderator
09Lexie
Posts: 26,593
Registered: ‎09-13-2012
0

Re: New Inquiries - There Goes My Poor Gardening Status :(

Congrats on your new car! Don't worry about the inq's for rate shopping.
Regular Contributor
Matt6995
Posts: 127
Registered: ‎03-07-2013
0

Re: New Inquiries - There Goes My Poor Gardening Status :(

First,

 

I would not anticipate any issues from your new car loan and the inquiries.

 

Second, I bought a new Cruze LTZ RS Feb 2012. Loaded to the gills and has been perfect., zero issues.

 

Excellent choice for a vehicle and my thanks to you for actively supporting an American company.

 

 

Valued Contributor
FocusedAndDetermined
Posts: 6,446
Registered: ‎01-05-2013
0

Re: New Inquiries - There Goes My Poor Gardening Status :(

Congrats on the new vehicle.  When I got my new wheels, in late Feb., I got 3 fresh inquiries on my reports.  They had little to no impact.  I was approved for Discover It in March.

Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012
0

Re: New Inquiries - There Goes My Poor Gardening Status :(


Matt6995 wrote:

First,

 

I would not anticipate any issues from your new car loan and the inquiries.

 

Second, I bought a new Cruze LTZ RS Feb 2012. Loaded to the gills and has been perfect., zero issues.

 

Excellent choice for a vehicle and my thanks to you for actively supporting an American company.

 

 


Thanks Lexie and thanks Matt, I'm glad to hear it was a good choice in vehicle. I really like it, it's perfect size and has a lot of pep for it's class.

 

@Focused Preciate you sharing your experience, sounds like your situation is pretty close to mine, but you all know I've gotta ask. We're all so proud of our accomplishments with credit, don't want anything to bring us back to where we started :smileyvery-happy:


border="0" align="left" width="450" height="90">
Community Leader
Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
0

Re: New Inquiries - There Goes My Poor Gardening Status :(


BrokaToe wrote:

Well folks, I had to cave in and get a new car. To the best of my knowledge All American Chevrolet only sent my information to 3 Banks, so hopefully that's all the inquiries I'll receive. So far 3 new ones have shown up on TU and 2 on EX. Even though I was instantly approved for all of the lenders they still sent it to 3 :smileysad:

 

I told them I didn't want them "rate shopping" lol, but I guess that's wishfull thinking. I got $20,000 @ 4.89% so I'm pretty happy with that. Gardening paid off once again.

 

But here is my concern. I know compared to some 3 inquiries isn't that much and I'm not certain that they coded them as Auto Inquiries (hopefully so) But...

 

Do I need to worry about my credit card lenders freaking out over the new inquiries or car loan account showing up on my CR?  Currently Out of the 5 cards I hold, Discover has a $931 balance (still in 0% intro period until May 2014) and Walmart I think has like a $30 balance. All others are at $0 balance.

 

Oh btw, I got a 2012 Chevrolet Cruz Eco :smileyhappy:


Congrats on your new car gardening certainly paid off.....enjoy 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13



myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}