Quote:
Originally Posted by listopencil
Sure, I get that. I was thinking that the second account would take the place of the first. I would assume a brief, small dip in your score that goes back up as you start paying the second one.
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Not sure but doubtful.
A closed account is closed account. And if you wee to borrow in another vehicle theoretically that would raise your debt ratio and ding the rating again. And if they had to do an inquiry there is another ding...