I have a question about the impact of refinancing on a credit report. I have an auto loan at this time in good standing. The interest rate is high and my mother co-signed for me because of my poor credit history.

As the monthly payments are high, I was looking into refinancing. I applied for refinancing with another bank and was approved (no co-signer) with a lower interest rate.

Now, my question is...does this help or hurt my credit? I would like to accept the refinance offer, but do not want to damage my credit that I have worked so hard to repair.

Darn...that was me posting up there...sorry.

I wouldnt think it would hurt your credit. A lower interest rate sounds good. It sounds like to me you have improved that credit or they never would have offered the loan to you. Kyside38

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RYDERS OF THE NIGHT

Be very careful when rate shopping so dealers don't choke your reports with unwanted inquiries.

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Cajunbulldog
Keeping an eye out for consumers.
http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809
http://www.ftc.gov/os/statutes/fcrajump.shtm
http://www.debtconsolidationcare.com.../about216.html
Use this letter to protect your rights under the FDCPA
myfairdebt.com & myfaircredit.com-Good source of case law in forums.