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MalloryJames MalloryJames is online now
 
Joined: Jun 2020
Posts: 682
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MalloryJames
 
Joined: Jun 2020
Posts: 682
Full Member

Old 01-11-2021, 10:57 AM
  #7

My understand is it isn't not having debt that can damage your credit rating--it's having so few lines of credit open and having a good payment history. With closing out 2 car loans, there went that payment history. It's complicated!

I think $345 is a small price to move forward if the new loan is better for you--and I assume it is or you wouldn't be doing it! Best luck!
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