How does FICO Grace Period work with CC CLI & Car refinancing?

[financialfreedom777]

How does this FICO 25-30 day grace period with credit inquiries work?

I want to refinance my car note in Nov (its been 3mos in so far) but before I do that I'd like to hit the luv button on my Amazon & Childrens Place card.

Want to refinance my car with PenFed then once they approve (assuming they will), I'll apply for their cc. Then shopping cart the Apple card annddddddd then garden for a while. Assuming it all works. Really want a PenFed cc, I only have a crappy Merrick $200 secured which I want to close.

Will the FICO grace period work, say if I push luv 2wks before I refinance?

[AlanGJP]

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@financialfreedom777 wrote:

How does this FICO 25-30 day grace period with credit inquiries work?

I have never heard of this and I'm not sure what exactly you're referring to - maybe provide a link for context? Or if you could you explain a bit more in-depth. Sorry if I don't sound supportive. I've never heard of this.

Your Amazon and children's place cards should be soft pulls and have zero impact on your FICO. (That said, I'm not positive regarding children's, but I know Amazon was a soft pull for my DW)

[coldfusion]

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@AlanGJP wrote:

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@financialfreedom777 wrote:

How does this FICO 25-30 day grace period with credit inquiries work?

I have never heard of this and I'm not sure what exactly you're referring to - maybe provide a link for context? Or if you could you explain a bit more in-depth. Sorry if I don't sound supportive. I've never heard of this.

Your Amazon and children's place cards should be soft pulls and have zero impact on your FICO. (That said, I'm not positive regarding children's, but I know Amazon was a soft pull for my DW)

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OP is referring to the FICO 30 day grace period before a scoring penalty is applied but appears to have not been aware that it only applies to installment loans and not revolving loans like for credit cards. Amazon CLI requests as you commented are soft pulls, and Synchrony now uses Vantage 4.0 scores (not the 3.0 algorithm used by Credit Karma and the other similar services) instead of FICO scores.

While there is a grace period for the scoring there is no grace period for the reporting of an inquiry made in response to an application for an installment loan, and credit decisions are made based upon your credit report in its entirety and not just your credit score.  It's up to each creditor to determine for themselves how they choose to weigh inquiries, whether for an installment loan or for a revolving loan.