 TITLE: How Does Refinancing Affect Your Credit Score? CONTENT: What to Do After Refinancing\n----------------------------\nWhenever you refinance a loan, your credit score will decline temporarily, not only because of the hard inquiry on your credit report, but also because you are taking on a new loan and haven't yet proven your ability to repay it. Be sure to make your payments on time, and after a few months, your credit score should go back to where it was. In fact, it may even improve as you show that you're able to handle the new loan. To see how refinancing and your new loan payments are affecting your credit score, you can get a free credit score to check.\nRefinancing a mortgage, auto loan, personal loan or other loan can help lower your interest rates, reduce your monthly payment and give you more wiggle room in your budget. But because refinancing can negatively affect your credit score, it's important to carefully weigh the benefits versus the costs before you start shopping for a new loan. END