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Posted in Auto Loans
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desertbear14

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Score bounce back
Good morning,

After a credit pull for an Auto Loan, how quickly does your score bounce back? If it was pulled at a 680, how quickly does that score start to be rebuilt where it starts to benefit you?

I'm interested in a balance transfer card, to help with a medical bill, but I do not want to apply with a sub-700 score. I want to ensure I get the card with the best balance transfer features available.

Thanks!

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Hi

It depends on what you are doing with credit, if you are doing nothing different it may take a little time for the hard inquiry hit to lessen. The hard inquiry should not have dropped your score that much, so I can't see it rebounding to any great extent. If you opened a card and transfered your medical bills to it, how much of the card would you utilize? If it would be a lot of the utilization rate you can expect an even further decrease to your score.

I would keep tabs on my scores for the next couple of months and see what happens. I agree with you not wanting to apply for a good card with a sub-700 as you will only get another hard inquiry and most likely a denial.

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