Overstock Closed - Score Plumits

[Anonymous]

Closed my Overstock card as I decided I wasn't going to use it.  Reported closed on Experian today and...

boom...62 point drop...really???? My current reported util is ~2%.  Grrr...

[Anonymous]

All:  Is this a normal amount to drop based on that?  I closed my US Bank in mid-January and have not seen this hit (this high). 

OP:  Very sorry to see that hit.  This FICO game is frustrating as hell at times.

[Anonymous]

I have never seen a drop like this...a lil frustrating.

[baller4life]

I have NEVER seen a drop like that from closing a card. You have other cards reporting right? No new baddies? That's ridiculous. I've closed 4 cards and didn't see a drop at all. WOW!

[Anonymous]

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@MstrPTato wrote:

I have never seen a drop like this...a lil frustrating.

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I hope others can provide a good explanation.  That seems awfully penal.

[Anonymous]

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@baller4life wrote:
I have NEVER seen a drop like that from closing a card. You have other cards reporting right? No new baddies? That's ridiculous. I've closed 4 cards and didn't see a drop at all. WOW!

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No baddies....spending hasn't changed...just more credit...I don't think $36,500 in more credit has reported yet.

[baller4life]

Ok so what is that report showing your util to be since $36k hasn't reported?

[JSS3]

AFAIK one does not lose points for closing an account. One only loses points if closing an account causes utilization to spike.

[IgnatiusReilly]

How many inqs were associated with your new TLs and how did that affect your AAoA?

[Anonymous]

Thats pretty odd. I closed three accounts around the same time and there was no score decrease. Seems like there should be another explanation behind this.