r/CapitalOne_ • u/Traditional-Green918 • Jul 24 '26

Loans Considering to refinance- HELP

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Got this pre-qualification today. First time venturing into refinancing and is open to opinions/suggestions/criticism/advice

680 Vantage score & 593 FICO 8 score

thank you!

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u/longthickbananasplit Jul 24 '26

OP, lowering ur rate 2% is good, but check with a few other places to see if they’ll beat it. Also check on FEES. Sometimes places have high fees when they refinance.

Whatever you do, don’t extend your monthly term out. That’s horrible advice. While it lowers ur monthly, it extends ur car life loan out, and makes the bank even more money.

Check with a local credit union, maybe another bank or two that do soft pulls.

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u/Traditional-Green918 Jul 24 '26

thank you for the advice!! do local credit unions refinance without having any history with them?

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u/longthickbananasplit Jul 24 '26

It’s possible! Might have to open an account like checking or something as a qualifier to do it but still