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...
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.
I have never seen a drop like this...a lil frustrating.
I hope others can provide a good explanation. That seems awfully penal.
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.
Ink Cash Signature $8.5k ~ Discover it $15k
Blue Cash Everyday $15k ~ Diamond Preferred $15k ~ Slate $17.5k ~ Sallie Mae WMC $24.5k
EQ 712 EX 716 TU 721