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So now that I'm gardening, I have a few questions. Here's the first one. I just refied my car. What affect will closing the previous account and opening the new one have? Theooriginal account was always paid on time, with no lates.
@Anonymous wrote:So now that I'm gardening, I have a few questions. Here's the first one. I just refied my car. What affect will closing the previous account and opening the new one have? Theooriginal account was always paid on time, with no lates.
If your original loan reports as closed first your score could drop some but then it will recover when the refi shows up. After awhile it will all even out and have little to no effect.
I thought it might be something like that. Just trading one loan for another. Thanks for confirming.