|
#1
|
|||
|
|||
|
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. |
|
#2
|
||||
|
||||
|
Darn...that was me posting up there...sorry.
|
|
#3
|
|||
|
|||
|
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
__________________
RYDERS OF THE NIGHT |
|
#4
|
||||
|
||||
|
Be very careful when rate shopping so dealers don't choke your reports with unwanted inquiries.
__________________
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. |







Linear Mode






