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Sweetypie01

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How does your score change when your refinancing?

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Refinancing adds a new account and closes out the existing one so there are all the impact usually associated with such changes.  AAoA is reduced by the new account.  The application for the new account incurs a hard pull.  The new account is an installment reporting with a high balance to loan ratio.  The exact scoring impact isn't just a matter of the refinancing itself but of one's credit and how the refinancing factors in.

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