11 point drop. Ugh raymour and Flanagan

[Paperboy999]

I had a raymour and Flanagan card. I received an email about two months ago that Wells Fargo was dropping them and they would close my card in February. I didn't think it was a big deal as I rarely use it. I got the alert today that my score dropped 11 points after they closed it. Very bummed. Would it have made a difference if I had closed the card myself instead of it being reported closed by grantee?

[JSS3]

I think it's the closing, itself, that dropped the score. Who does it won't matter if it's in good standing and your utilization isn't terribly affected by the loss of the credit line.

[KneelBeforeZod]

+1. The account being closed caused the slight score drop, not whether you or the grantor made the decision specifically.

Are you carrying any balances? It's possible the closure of the account may have adjusted utilization across the board if you are carrying any balances.

[Anonymous]

My thoughts on the reasoning:

1. Your utilization rate went up

2. Your AAoA went down

Those two together are likely the cause of the drop. Luckily for you, lowering your utilization can increase your score quickly. AAoA, on the other hand, takes time to build up.

[takeshi74]

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@Paperboy999 wrote:
Would it have made a difference if I had closed the card myself instead of it being reported closed by grantee?

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@Anonymous wrote:

Your AAoA went down

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Nope.  See this (linked in the Helpful Threads sticky in this subforum):

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=117125&jump=true