Help!! Accidentally let a card report maxed!!

[Jammo13]

Hey all, so my scores were finally starting to take a turn for the ultimate better and I have been really happy with my progress on my credit journey. However, just today, one of my low limit cards reported with an EXCEEDED LIMIT. OOPS. WELL, this dropped my score over THIRTY POINTS into the 680s. Is this temporary and does it hold any memory at all? I'm freaking out I JUST paid off the card in full and closed it entirely because it's one of my original subprime cards. Does closing a card cause it to report any faster or should I just wait patiently til the next billing cycle? Will my credit keep any memory score-wise of this? My UTI is 12%, soon to be sub 10 (paid my Citi Diamond Preferred from 2600 to 0, requesting Navy CLI $8000 on cash rewards this week!) Need some insight please!

6 inquiries in the past 12

$4900 balances

$50000 revolving credit

AAoA 1 year 1 month

Oldest Account 2 years 1 month

Most recent account Navy Fed More Rewards 3.6k limit Oct. 2023

[JoeRockhead]

Utilization has no memory, your scores will snap back. 

[Traveler101]

When closing an account, some lenders, not all, may have a trailing intrest charge, etc. As a precaution, consider waiting until the new statement is generated to confirm a zero balance and then close it. Be sure to double check your account after the new bill just to be safe and confirm its pif.

Generally, most don't expedite reporting a closed account. It's usually on the same reporting schedule. One that generally reports when pif mid cycle is chase.

[CorpCrMgr1]

A one time set back. You will be fine. Good for you closing a sub prime card. Good luck!

[SouthJamaica]

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@Jammo13 wrote:

Hey all, so my scores were finally starting to take a turn for the ultimate better and I have been really happy with my progress on my credit journey. However, just today, one of my low limit cards reported with an EXCEEDED LIMIT. OOPS. WELL, this dropped my score over THIRTY POINTS into the 680s. Is this temporary

Yes it's temporary.

and does it hold any memory at all?

No

I'm freaking out I JUST paid off the card in full and closed it entirely because it's one of my original subprime cards. Does closing a card cause it to report any faster

Sometimes yes, sometimes no.

or should I just wait patiently til the next billing cycle?

Do you have a choice?

Will my credit keep any memory score-wise of this?

Again, no.

My UTI is 12%, soon to be sub 10 (paid my Citi Diamond Preferred from 2600 to 0, requesting Navy CLI $8000 on cash rewards this week!) Need some insight please!

6 inquiries in the past 12

$4900 balances

$50000 revolving credit

AAoA 1 year 1 month

Oldest Account 2 years 1 month

Most recent account Navy Fed More Rewards 3.6k limit Oct. 2023

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