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Closed A Card & Score Increased ;-)

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ssp
Valued Member

Closed A Card & Score Increased ;-)

It was one of my secured cards with a 600 cl and about to turn a year old. I didn't think it would have an affect on my score at all but it actually increased it by 8 points!

I am happy to be on my way back to where I was before the mini app spreeSmiley Embarassedwhich was 804. All accounts are reporting a zero balance and I am staying in the garden for a couple of years. I will focus on building business credit during that time

TU 792 EQ 782
*In The Garden*


Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Closed A Card & Score Increased ;-)

Congrats, I think I'm in the same boat no more credit cards for me and my main goal is to now pay off my truck and my car.  I still hope I see 800 by the end of the year though.

Message 2 of 7
marty56
Super Contributor

Re: Closed A Card & Score Increased ;-)

Unlikely closing the card had anything to do with it but +1 on the score increase.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 3 of 7
ssp
Valued Member

Re: Closed A Card & Score Increased ;-)

TY! My score had initially decreased with each cc inq and with each new card that was opened. I have the exact same balances with all of them as before and I figured

all of the damage had been reported, including my AAoA being reduced by 4 yrs.Smiley Frustrated It was holding steady at 773 after all my abuse and so I decided it was time to

close that card and a few weeks later I get the SW report  concerning the accout closure and score increase. So I figured it helped. How can you or I know for certain that it didn't? whether it did or not I"m doing the happy dance in my garden with all my pretty new buds of promise.Smiley LOL

TU 792 EQ 782
*In The Garden*


Message 4 of 7
YahComb
Established Contributor

Re: Closed A Card & Score Increased ;-)

well, considering you closed to card so close to the 1 year date, the account aging past 1 year and the inquiry reaching 1 year are also things that could definitely have impacted your score recently.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Message 5 of 7
omskillet
Regular Contributor

Re: Closed A Card & Score Increased ;-)


@marty56 wrote:

Unlikely closing the card had anything to do with it but +1 on the score increase.


If the card had a balance and is now reporting as 0 then that could explain the score increase.

Message 6 of 7
ssp
Valued Member

Re: Closed A Card & Score Increased ;-)

That card was barely used and I kept a 0 balance on it. I didn't consider the age of the account or the inquirySmiley LOL but now that I think of it, several inquiries were at least a year old ..you guys are on it! I have to admit that before I found this board, I simply pulled my cr every year to make sure everything was dropping off as it should. There wasn't a lot of baddies but enough to get denials and crappy offers for credit cards that take advantage of people with not so good records. I didn't even bother with checking my score until I came here. *looking around* I kinda like it here Smiley Very Happy

Thanks!

TU 792 EQ 782
*In The Garden*


Message 7 of 7
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