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New Inquiries - There Goes My Poor Gardening Status :(

Established Contributor

New Inquiries - There Goes My Poor Gardening Status :(

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 Smiley Sad

 

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 Smiley Happy


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20 REPLIES
Valued Contributor

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

Congrats on the new car Smiley Happy

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

*8/10/13
Established Contributor

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

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 Smiley Happy


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Established Contributor

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


dodfire wrote:

Congrats on the new car Smiley Happy

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


Thanks a bunch, and thanks for the reassurance! Smiley Wink


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Moderator Emerita

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

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.

 

 

Senior Contributor

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

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 Smiley Very Happy


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Super Contributor

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 Smiley Sad

 

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 Smiley Happy


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

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?