Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
dremarie

0 Contributions
0 People Helped
if creditkarma recommends you refinance your car loan and you apply does it lower your credit score

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7347 Contributions
3806 People Helped

Credit Karma DOES NOT make the recommendations for loans, credit cards, etc.  The recommendations may be automatically generated but are based only on the small amount of information on this site, which is not all of your accounts.  CK is not a credit advisor or a credit bureau, but a teaching site so people can learn how credit works and how they can better their credit score. Lenders may utilize information from other credit bureaus to make their decvisioins.

Yes, applying may cause a 'hit' on your credit score because of the inquiries but, if you are granted the refinancing, it just may improve your score.  There are so many factors to consider that a definite answer cannot safely be given.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.