Question by chicken2008: Do you think it make sense to refinance your mortgage if you are trying to increase your credit score?
I am trying to get my credit score into the high 700’s within the next few years right now it is in the low 600’s. It was suggested to me to refinance my mortgage. I thought that will drop my score some points. Also I am fine with my monthly payment. I attended a financial fair and this was suggested to me by a advisor.
I know applying for a new line of credit wont increase my score. I was basically asking will it and can it drop my score.
Answer by dustoff
A refi will not “increase your credit score.”
What do you think? Answer below!