Auto loan or CC apps first

[jbolds88]

I’ve recently got my scores to a point where I’ve actually received a CC pre approvals. I am planning on applying for 2 new cards, hopefully with higher limits than what I currently have and then going to the garden for a couple years but I need a new car loan also. I was wondering if I should apply for the auto loan first and then the credit cards or vice versa. Any advice would be appreciated

[Remember0]

Do you already have 3 or more cards reporting?

If so, I vote auto loan first. The inquiry from the cards / new accounts depending on how quickly they report will hurt your score. If you have no or only one CC however, then an additional one may actually boost your score.

[jbolds88]

Yes I have 3, but one is a Fortiva/Home Depot card with a terribly high interest rate (5k cl) and a capital 1 platinum (300 cl). I’ve had the cap 1 card for 2 years and they refuse to give me a cli. I’m just really champing at the bit to get some better cards but holding off is probably the wiser decision

[Girlzilla88]

Auto First for sure

[Remember0]

Agreed, auto first is my recommendation for this case as well. The fact they have low limits/high APR doesn't matter. You can work on getting better cards / lenders after securing an auto loan.

[Anonymous]

I concur with everyone else. The auto loan first and then you can get better cards. You'll be more impacted by the car financially and it's harder to shake off that debt quickly.