@damac2004 wrote:i have been sitting still trying to max my scores out for the last couple years. i got a letter with the upgraded mastercard rewards for carecredit and didn't think twice and activated the card. i didn't read the fine print so my bad.
my score was 797 and this event shows a 25 point drop. the old card had no balance and the new one has a small balance, i wanted to use the new card.
i was messing around with manipulating my scores and had a couple cards reporting a small balance so i will probably see a few point increase when those hit since i payed all off but one card.
so another card in this moment reporting a small balance may account for a few points once i pay it off.
i entered in basically the same info for income and they doubled the credit limit when activating the card.
also not sure if this will hold but myfico account area does not show any soft or hard pull?
i have not applied for any credit for a year and a half so is it safe to assume that this new card hit is from the average age of accounts changing?
or is it negative to show that consumer closed an account?
also do all card companies do this or have to do this when upgrading?
1. I doubt that either the new account, or the closing of the old account, or the 2 combination of those events caused a 25-point drop.
2. Bear in mind that the score changes referenced in the MyFICO alerts often have no causal relationship to the event which is the subject of the alert.
3. The closing of the account did not affect your average age of accounts. The new account would have had a slight effect on "average age of new accounts" and would have changed your "age of newest account" factor.
4. It's not negative to show that consumer closed account.
5. No most companies do not do that when an account is upgraded; most issuers show continuity in the account, with same opening date.
