Why was my account reported closed on my credit report when I refinanced my loan?
At OppLoans, refinancing your loan results in your previous loan being paid and a new loan opening. OppLoans reports the previous account as refinanced and closed as of the refinance date. The newly originated loan will be reported to the credit bureaus in our monthly reporting until a final status is reached. If you have any questions about how long accounts remain on your credit report, please refer to each bureau directly as the time may vary.