cancel
Showing results for 
Search instead for 
Did you mean: 

Just got Barclays.. need to go car shopping

tag
justcallmetj
Member

Just got Barclays.. need to go car shopping

Hi ALL!

 

I just received 2 Barclays cards this past weekend, and I've been reading a lot about how Barclays hate's new inquiries after extending a LOC. The thing is, I plan on going car shopping next month/possibly december and I will be app'ing for the best interest rates. I know numerous auto loan app's count as 1 hard inquiry if done within a week or so..

 

Am I looking for trouble? 

Message 1 of 11
10 REPLIES 10
Dustink
Valued Contributor

Re: Just got Barclays.. need to go car shopping

I would give them a call and let them know you are going car shopping. They can probably note it on your account, that way they don't question the INQs.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 2 of 11
kevinjjc
Valued Contributor

Re: Just got Barclays.. need to go car shopping

Even so, I advise you to limit the hard inquiries.
Message 3 of 11
maiden_girl
Valued Contributor

Re: Just got Barclays.. need to go car shopping

I don't see why they would care if you already have the cards...

As of 2017, rebuilding...
Message 4 of 11
somnipotent
Frequent Contributor

Re: Just got Barclays.. need to go car shopping

They could reduce his limits or even close his accounts if they deem him too risky due to the amount of INQs.  Who knows.  Good to be cautious.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
--
Homeowner since 05/29/13
Message 5 of 11
maiden_girl
Valued Contributor

Re: Just got Barclays.. need to go car shopping


@Omaplatypus wrote:

They could reduce his limits or even close his accounts if they deem him too risky due to the amount of INQs.  Who knows.  Good to be cautious.


I wouldn't do business with Barclays if that was how they operated. Those are some shady practices.

 

As of 2017, rebuilding...
Message 6 of 11
LS2982
Mega Contributor

Re: Just got Barclays.. need to go car shopping

I would not call them, just limit the amount of INQ's to 3 or less.




EQ FICO 548 3/3/16
Message 7 of 11
Anonymous
Not applicable

Re: Just got Barclays.. need to go car shopping

I dont even know if calling would help. Barclays is the most schizophrenic CCC I have ever had to deal with. They could close the accounts immediately or nothing at all....who knows YMMV but majority of threads you would find lean towards closure.

 

I would second the limit on INQ's. I went car shopping last year and got ran over with INQ's to the tune of 8 because I didnt remember to say anything. Excitement of a new car clouded my better judgement. It wasnt until weeks after I had my new car that I found out just how many times I had been dinged. Hard lesson learned!

Message 8 of 11
jsucool76
Super Contributor

Re: Just got Barclays.. need to go car shopping


@Anonymous wrote:

I dont even know if calling would help. Barclays is the most schizophrenic CCC I have ever had to deal with. They could close the accounts immediately or nothing at all....who knows YMMV but majority of threads you would find lean towards closure.

 

I would second the limit on INQ's. I went car shopping last year and got ran over with INQ's to the tune of 8 because I didnt remember to say anything. Excitement of a new car clouded my better judgement. It wasnt until weeks after I had my new car that I found out just how many times I had been dinged. Hard lesson learned!


That is because most people don't make a thread titles "BARCLAYS DIDN'T CLOSE MY ACCOUNT!!!"

 

They just get pissed when they recieve AA and make a thread about it. I wouldn't really call it a "shady practice" either...if I was a CCC and someone took 14 inqs after I gave them a credit card, I would feel a little worried...Smiley Tongue

Message 9 of 11
iCoop
Regular Contributor

Re: Just got Barclays.. need to go car shopping


@justcallmetj wrote:

Hi ALL!

 

I just received 2 Barclays cards this past weekend, and I've been reading a lot about how Barclays hate's new inquiries after extending a LOC. The thing is, I plan on going car shopping next month/possibly december and I will be app'ing for the best interest rates. I know numerous auto loan app's count as 1 hard inquiry if done within a week or so..

 

Am I looking for trouble? 


I guess my main question is why did you just apply for two credit cards if you're looking for the best interest rate on an auto loan... You should always hold off on app'ing if you're about to apply for a large loan such as that for an auto loan or mortgage. Save the credit card inquiries for after you have secured the main loan.



Starting Score: EQ 675 | TU 688 | EX 702
Current Score: EQ 795 | TU 788 | EX 770
Goal Score: 750 (Across All 3)


Take the myFICO Fitness Challenge
Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.