Auto loan question

[Anonymous]

I have a question about auto loans.

Brief description of my situation:

1., I'm living in the US as a legal alien since 07/2012

2., AT&T did 4 hard inquiries in 07/2012 (system glitch) and I'm still fighting them to remove 3 of them (only Transunion)

3., Opened my first BofA secured credit card in 08/2012 with $1000 credit limit

4., Got approved for a Capital One Platinum Mastercard in 12/2012 with $500 credit limit

5., BofA gave back my security deposit in 05/2013 and raised my credit limit to $2500

6., Capital One raised my credit limit to $2000 in 06/2013

7., Comcast is about to do a hard inquiry because I'm changing providers

I have a 705 credit carma score and an experian plus score around 740. I always pay my bills and I want to continue building my credit.

Now I have two short term financal goals:

x) Get an American Express Blue Cash Everyday card and use it regurarly as our main credit card

x) Apply for an auto loan in September / October

My questions:

x) Should I wait applying for the AmEX card to prevent the negative impact of the hard inquires before my Auto loan? The credit simulator says that having a third card would boost my credit score with a 20-30 points

x) What is the best for the Auto Loan APR? Wait with the AmEX or get the AmEX as soon as possible?

[llecs]

Welcome!

On the AT&T inquiries, FICO will stop scoring them next month. I'd back off on fighting them.

If you are looking for a better rate on the car, let everything age, stop applying, and then aim for the Amex after the car. This is questionable for sure, but I think the new account ding for the Amex would be greater than any positive benefit to your mix of credit.

On the APR, check out the Auto Loans board to see what kind of rates are out there.

[Anonymous]

Thanks!

Well, patience was a good advice so far, so I guess it should work the way you suggested.

It's just kinda hard to fight the feeling that I have a chance to get my first real useful credit card.

Anyway, thanks!