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Overstock Closed - Score Plumits

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Senior Contributor

Overstock Closed - Score Plumits

Closed my Overstock card as I decided I wasn't going to use it.  Reported closed on Experian today and...Screen Shot 2015-03-10 at 2.44.43 PM.png

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

Message 1 of 36
35 REPLIES 35
Valued Contributor

Re: Overstock Closed - Score Plumits

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.



Message 2 of 36
Senior Contributor

Re: Overstock Closed - Score Plumits

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

Message 3 of 36
Super Contributor

Re: Overstock Closed - Score Plumits

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!
Message 4 of 36
Valued Contributor

Re: Overstock Closed - Score Plumits


@MstrPTato wrote:

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


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



Message 5 of 36
Senior Contributor

Re: Overstock Closed - Score Plumits


@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!

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

Message 6 of 36
Super Contributor

Re: Overstock Closed - Score Plumits

Ok so what is that report showing your util to be since $36k hasn't reported?
Message 7 of 36
Valued Contributor

Re: Overstock Closed - Score Plumits

AFAIK one does not lose points for closing an account. One only loses points if closing an account causes utilization to spike.
Message 8 of 36
Regular Contributor

Re: Overstock Closed - Score Plumits

How many inqs were associated with your new TLs and how did that affect your AAoA?
Message 9 of 36
Senior Contributor

Re: Overstock Closed - Score Plumits

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.

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EQ 712 EX 716 TU 721




Message 10 of 36
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