SHOULD I REFINANCE?????? HELP

[Anonymous]

Yay!!!!  I'd be all over that right away!

[elim]

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@yoyo wrote:

***APPROVED !!!!

Refinance with my credit union.....APR from 11.9 to 3.9 Yeh !!!

They only report to Experian...once the loans are paid off...how would that reflect my TransUnion and Equifax Scores?????????

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  congrats! thats awsome!

[yoyo]

Check cut today for Cap1 Auto Loan.

Paid off today; Cap1 QS, Khols and Overstock.

Just two Cap1 cards w/balances totaling $607

Now:
Cap1 $2500 bal $235
Cap1 $1750 bal 0
Cap1 $2200 bal $372

Khols $700 bal 0
Overstock $2200 bal 0
First Saving Credit Card $750 bal 0
VonMaur $800 bal 0 ..credit line not reported
Avenue/comenity $450 bal 0

Total C/Line  reporting $10,550.really is..$11,350

Utilization was around 22.5% now 5.7%

How do you think this might effect my score????

[Anonymous]

should go up but hard to say how much. maybe 8-15 points depending on your profile. the thinner it is the more it'll go up.

[yoyo]

What does thinner mean???

[Anonymous]

meaning not a thick or long profile. thick profiles are those that have 10+ years of history and maybe 20-50 accounts

[yoyo]

Thank you so much. Will keep you updated.

[yoyo]

Update: Alert so far:

Equifax...score drop from 652 to 648 ....Cap1 Auto loan paid
Experian....score increase 648 to 662 Cap1 Auto loan paid....and ultization lower
Trans Union...650 to 659 utization lower

Waiting for
0 Balance for Overstock to report to all three bureus
Cap1 auto paid per TransUnion....expecting a drop from my 659 score..

Updated scores: EQ 662, EX 648, TU 659 12/10/2015

[yoyo]

Yep lost 4 points with transunion now 655

[Anonymous]

it'll bounce back soon.