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 Mortgage
Profile Image

Question By
danaski2009

0 Contributions
0 People Helped
mortgage closed but in process for transfer
My prior mortgage company has updated my credit report to closed on 22 September; however- I refinanced it and another lender should be reflecting my payments soon (I hope). My credit scare decreased because of this I believe. I have no derogatory remarks and 0 late payments. What can I do to note my credit reports with this. This really isn't fair to ding consumers for refinancing in order to obtain cheaper terms. Agree?

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
1008 Contributions
557 People Helped

Unfortunately, fair or not, agreed or not, it's not going to change the way it's reported and calculated. One loan was closed and new one is opened, that's how credit scores sees and its pre-set/formulated that way. What's good for your financially aren't necessarily good for your credit scores. I personally much rather pay less interest than lowering my scores, credit scores would rebound in few short months, but I won't be getting the interest back, and if I have no plans for applying for more credit in next few months? Then the credit scores are pretty meaningless as no credit decisions would be base off it.

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.