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Question By
dlinder26

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What is the best way to handle applying for a car loan and 2 Credit Cards on the same day?
Should I just apply for the car loan and BayclayCard on the same day and wait at least 3 months to apply for the Visa Cash Back Card to ensure my credit score does not take a major hit (FYI...the car loan and Visa Card would be applied for at the same Credit Union)?

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New lines of credit and 3 hard pulls

All three of those require a hard inquiry on your credit score.  Every hard inquiry takes at least 2 years for it to disappear from your credit score.

Three of them back-to-back is a terrible decision, unless you are truly in dire financial straits and absolutely need those lines of credits immediately.

If your score is already low, the triple hit will be a big one.  If your scores are decently high, the triple hit will still be hard, but not as bad as if you had a low score to begin with.

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Don't apply for those cards until after you get a car loan. To really help you more information is needed as to why you are applying for the credit cards.

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You would think that 1 credit inquiry by the Credit Union is all that would be needed, even with 2 loan requests.  But I would bet that the systems are setup to request a report automatically :)

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Reply by
johnnybinsea

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Kevink is correct.... the car loan and credit card coming from the credit union may be just one pull.  Every place is different so I would ask them about that.  If you are looking for a card from Barclays I would get that card first.  They do not like a lot of inq. when you get a card from them.  Also they like a lot of usage on there cards so I would not apply for many cards right after you get a card from them either. 

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