topic Auto Lease approved!!! How long to wait to app for CC's? in Credit Cards

Auto Lease approved!!! How long to wait to app for CC's?

Dw4250 — Sun, 09 Mar 2014 02:51:29 GMT

Hi everyone-

I just returned from the Nissan dealership with a brand new 2014 Rogue SL AWD. So excited!!! BTW they pull TU for those interested...

Anyway, I've been planning on apping for a couple of cards this month, but was waiting until the car thing was out of the way.

Now that the car is safely in my garage, can I go ahead an app for a new card anytime? Should I wait until the loan funds from NMAC (The finance manager made a comment that the loan is not funded yet since it is a Saturday, so I assume that will happen on Monday, but not sure). Do I risk any potential issues if I app for new credit too soon?

Re: Auto Lease approved!!! How long to wait to app for CC's?

Anonymous — Sun, 09 Mar 2014 03:28:21 GMT

@Dw4250 wrote:
Hi everyone-

I just returned from the Nissan dealership with a brand new 2014 Rogue SL AWD. So excited!!! BTW they pull TU for those interested...

Anyway, I've been planning on apping for a couple of cards this month, but was waiting until the car thing was out of the way.

Now that the car is safely in my garage, can I go ahead an app for a new card anytime? Should I wait until the loan funds from NMAC (The finance manager made a comment that the loan is not funded yet since it is a Saturday, so I assume that will happen on Monday, but not sure). Do I risk any potential issues if I app for new credit too soon?

its best to just wait till the loan paperwork is finalized.

Re: Auto Lease approved!!! How long to wait to app for CC's?

takeshi74 — Sun, 09 Mar 2014 03:52:07 GMT

@Dw4250 wrote:
I just returned from the Nissan dealership with a brand new 2014 Rogue SL AWD. So excited!!! BTW they pull TU for those interested...

Dealerships can and do pull from a variety of source so don't just assume that Nissan = TU.

@Anonymous wrote:
its best to just wait till the loan paperwork is finalized.

+1 Don't count your chickens before they're hatched.

Re: Auto Lease approved!!! How long to wait to app for CC's?

Creditaddict — Sun, 09 Mar 2014 03:56:46 GMT

@takeshi74 wrote:
@Dw4250 wrote:
I just returned from the Nissan dealership with a brand new 2014 Rogue SL AWD. So excited!!! BTW they pull TU for those interested...
Dealerships can and do pull from a variety of source so don't just assume that Nissan = TU.

@Anonymous wrote:
its best to just wait till the loan paperwork is finalized.
+1 Don't count your chickens before they're hatched.

Nissan/Infiniti seems to stick with TU

tier 1 on your lease?

Re: Auto Lease approved!!! How long to wait to app for CC's?

Dw4250 — Sun, 09 Mar 2014 04:05:46 GMT

Thanks to both of you. OK...I'll wait I was trying to find a "sweet spot" where I could app before the lease shows up on my credit report as a new TL.

But it would be dumb to put my new lease in jeopardy....I will wait a few days.

PS: The reason I stated NMAC pulled TU was the dealership gave me a disclosure when I signed the papers. It stated NMAC pulled Transunion to evaluate my credit worthiness, and gave me my score (712). As always in the credit game, YMMV.

Re: Auto Lease approved!!! How long to wait to app for CC's?

Dw4250 — Sun, 09 Mar 2014 04:09:50 GMT

Nissan/Infiniti seems to stick with TU
tier 1 on your lease?

Yup Tier 1. Nissan has a great money factor this month on their leases. 0.00015 (yes 3 zeros). This translates in APR to 0.36%

Re: Auto Lease approved!!! How long to wait to app for CC's?

Creditaddict — Sun, 09 Mar 2014 04:13:28 GMT

@Dw4250 wrote:

Nissan/Infiniti seems to stick with TU
tier 1 on your lease?
Yup Tier 1. Nissan has a great money factor this month on their leases. 0.00015 (yes 3 zeros). This translates in APR to 0.36%

After Monday you could fine out for sure... I wouldn't worry at all and this week can start applying!!

Re: Auto Lease approved!!! How long to wait to app for CC's?

Anonymous — Sun, 09 Mar 2014 04:17:39 GMT

@Dw4250 wrote:
Thanks to both of you. OK...I'll wait I was trying to find a "sweet spot" where I could app before the lease shows up on my credit report as a new TL.

But it would be dumb to put my new lease in jeopardy....I will wait a few days.

PS: The reason I stated NMAC pulled TU was the dealership gave me a disclosure when I signed the papers. It stated NMAC pulled Transunion to evaluate my credit worthiness, and gave me my score (712). As always in the credit game, YMMV.

Depending on the lender, it may take days or up to months before the new TL reports on your CRs.

best to just call them to make sure the underwriter has approved and finalized the loan before you apply. Sometimes finance managers "approve" you for loans based on their judgement, past experiences and guidelines they're given, but you may not necessarily be approved. The lender may come back with request for more documents or may want to hike your rate for instance.

Once the loan is finalized go ahead and apply!

Re: Auto Lease approved!!! How long to wait to app for CC's?

Shock — Sun, 09 Mar 2014 08:52:53 GMT

May be irrelevant but never go financing thru Capital One. The will triple pull you plus the dealership will burn one on you. That was with Honda. Make sure you do in house financing with them.