OK, here is my question for the wise guys here.
I had two drops in my score watch. I transferred balance from a bad auto loan to a CC with 0% balance transfer -6p. Closing the auto loan, opening the CC, and so on and on… That was to be expected. only -6
Yet the unexpected for me was resent drop of -26p for just closing a line of credit that I barely use. I read on many occasions that closing an account “may” not certainly “will” lower your score. And why would it drop so much more compare to all my other credit juggling over two months ago. And if it is something else, why then the Fico doesn’t show it in the “ScoreWatch”? At the last part of the alert none of the “impacts” are due to closing the account. I always paid on time in full, never been late; no balance increases… make any sense to me. Why drag down? I have the freedom to open as many accounts as I wish and close them as well, if I pay on time that shouldn’t be the problem. I refuse to buy credit reports several times a year, isn’t that what “Score Watch” is for? If there is another activity shouldn’t I get information about it?
I’m sorry but I’m getting really confused here, if I pay for a service that monitors all the activities and cannot give me reasonable answer why the score is down, “Buy a credit report to find out” was the service rep. answer, is rather out of line here. That reminds me of a bad car salesman trying to sell you the door knobs as an option, so I can get in the car.
Thank you for reading and for your opinion, which “may” follow.
