Should I apply for a Credit Card before or after getting a Car Loan.

[Tiger888]

I recently hit low 700s in credit scores and wanted to add another credit card to my portfolio. But I am also in the market to buy and finance another car. So the question is, should I apply for a credit card after or before I finance a car.

Thanks

[Anonymous]

I'd app for whichever need is greater, likely the car. I wouldn't want to be where I need a car and end up with less favorable terms because I apped for a card I wanted rather than needed.

[Anonymous]

App for the car first. The reason is if the hard inquiry is coded properly it will not reduce your score until 30 days later. So get your car then go get the credit cards before the car reports or the inquiry and account reduces your score.

[cws-21]

It's already been said, but I would also apply for the car loan and soon after apply for the card(s) you are interested in.

[Tiger888]

Thanks for all the replies. Will app for the car first and then go on at try and get another CC.

[randomguy1]

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@Tiger888 wrote:

I recently hit low 700s in credit scores and wanted to add another credit card to my portfolio. But I am also in the market to buy and finance another car. So the question is, should I apply for a credit card after or before I finance a car.

Thanks

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App for the car first but IMO, I would try to get financing from an outside creditor such as a credit union. Unless the dealer has special 0.9% or crazy financing, I tend to shy away from financing at dealers as they may shotgun your apps across all available lenders. End result, you end up with 6-10+ HP.

[Wavester64]

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@Anonymous wrote:

I'd app for whichever need is greater, likely the car. I wouldn't want to be where I need a car and end up with less favorable terms because I apped for a card I wanted rather than needed.

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*Perfectly* said!