06-29-2007 11:11 AM
06-29-2007 11:14 AM
Hello to all. I have a question to the regulars. Since my score has improved dramatically over the last 5 months, I decided to refinance my car. I recently financed my car in Jan 07 at a very high interest rate. After 6 monthly payments I am refinancing the vehicle at a much lower rate. The question is: will my score raise or drop or stay the same in the short term? I know the factors are: credit being pulled from EQ, paying off an installment account after 6 months, opening up a new installment account with a much lower balance than the previous loan.
06-29-2007 12:44 PM
06-29-2007 12:57 PM
Fancyron wrote:The only reason that matters is that I have also been looking at buying a house and trying my best to have my score as high as possible ASAP.
06-30-2007 04:43 PM
Fancyron wrote:Thanks. I appreciate your encouragement. In the meantime, I am doing my best to drop my utilization down to less than 30%. Almost there.