Closed an AU account and lost 38 pts…

[Greenmach]

Hey all,

Recently I have got my scores almost to 700. 691-683 across the board. My oldest card was a Credit One AU account. Granted oldest account by a month. My wife closed it due to low limit ($300) and AF. It reported today as closed and it dropped my EX 38pts and EQ 23pts!  TU hasn't updated yet. This was a HUGE shock and very disheartening. 
    I have verified that this was the only change to my report. Also, being as it is still showing and contributing to my AAoA, can someone shed some light as to why this was so drastic?  
     Data Points:

Quicksilver Cap1 09/20 $0/$650

Walmart Cap1 04/21 $0/$300 (recent pc)

Lowes 07/21 $1400/$15000

Citi 12/21 $0/$500

Navy 1/22 $700/$2500

AAoA 2yr 9mo

[CH-7-Mission-Accomplished]

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@Greenmach wrote:

Hey all,

Recently I have got my scores almost to 700. 691-683 across the board. My oldest card was a Credit One AU account. Granted oldest account by a month. My wife closed it due to low limit ($300) and AF. It reported today as closed and it dropped my EX 38pts and EQ 23pts!  TU hasn't updated yet. This was a HUGE shock and very disheartening. 
    I have verified that this was the only change to my report. Also, being as it is still showing and contributing to my AAoA, can someone shed some light as to why this was so drastic?  
     Data Points:

Quicksilver Cap1 09/20 $0/$650

Walmart Cap1 04/21 $0/$300 (recent pc)

Lowes 07/21 $1400/$15000

Citi 12/21 $0/$500

Navy 1/22 $700/$2500

AAoA 2yr 9mo

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Were these changes in the free Vantage Scores you get from siter like Kredit Karma?   Were the changes from Tu or EQ?

If yes, ignore those scores, get your real FICO scores and report back.   Those scores don't matter.

[Greenmach]

No these changes were from my EX and MyFICO subscription. Actually my vantages scores didn't change 

[babygirl1256]

Gosh, that's a bummer. I guess your wife can't reopen with the same account number and history . . . wishing a favorable resolution!

[FinStar]

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@Greenmach wrote:

Hey all,

Recently I have got my scores almost to 700. 691-683 across the board. My oldest card was a Credit One AU account. Granted oldest account by a month. My wife closed it due to low limit ($300) and AF. It reported today as closed and it dropped my EX 38pts and EQ 23pts!  TU hasn't updated yet. This was a HUGE shock and very disheartening. 
    I have verified that this was the only change to my report. Also, being as it is still showing and contributing to my AAoA, can someone shed some light as to why this was so drastic?  
     Data Points:

Quicksilver Cap1 09/20 $0/$650

Walmart Cap1 04/21 $0/$300 (recent pc)

Lowes 07/21 $1400/$15000

Citi 12/21 $0/$500

Navy 1/22 $700/$2500

AAoA 2yr 9mo

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Was there a balance on the Credit One AU account prior to the closure? Are you an AU on any other accounts or just that particular one?

[Greenmach]

@FinStar 

There was a $10 reported balance reported the prior month before closure since paid and I am not an AU on any other account. 
This is why I am so confused. It didn't effect my overall UTI at all considering it was only a $300 limit. 

[coldfusion]

The impact varies, but FICO scores take AU accounts and whether or not at least 1 of them is reports a balance into consideration.

If you have 1 or more AU accounts reporting there is often a slight scoring penalty if none of them is reporting a balance vs. if at least 1 of them does.

[Greenmach]

So is it Bc I had an AU account reporting before and now I have none, even tho that was my only AU account?  So if it's showing closed am I still then receiving the all zero AU scoring penalty?  Should I have it removed then to prevent this?

[PNWRambler]

Closed accounts still show on your AAoA for many years (10?) but I'm not sure if that stands the same with an AU account. It may take 45 days to fully update. If it IS due to that penalty, then you should be able to request to have it removed. But I can't say for sure if that is how the penalty works.

[SouthJamaica]

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@Greenmach wrote:

Hey all,

Recently I have got my scores almost to 700. 691-683 across the board. My oldest card was a Credit One AU account. Granted oldest account by a month. My wife closed it due to low limit ($300) and AF. It reported today as closed and it dropped my EX 38pts and EQ 23pts!  TU hasn't updated yet. This was a HUGE shock and very disheartening. 
    I have verified that this was the only change to my report. Also, being as it is still showing and contributing to my AAoA, can someone shed some light as to why this was so drastic?  
     Data Points:

Quicksilver Cap1 09/20 $0/$650

Walmart Cap1 04/21 $0/$300 (recent pc)

Lowes 07/21 $1400/$15000

Citi 12/21 $0/$500

Navy 1/22 $700/$2500

AAoA 2yr 9mo

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No, I doubt that was the cause of the 38 point loss.