Found out my credit score dropped 40 points just because I closed an old card I never used.

I was checking my Experian report last night and saw it went from 742 to 702 after I shut down a store card I hadn't touched in like 5 years. Never realized how much that available credit was holding up my score. Has anyone else had their score take a hit from closing a dormant card?

3 comments

3 Comments

wood.eric1mo ago

Hold up, is a 40 point drop really that big of a deal? Unless you're trying to get a loan tomorrow, your score will probably bounce back in a few months anyway.

the_alice1mo ago

And honestly? I think you deserved it a little bit. That credit utilization ratio is a huge deal and closing old cards kills it. By shutting down that dormant card you basically told the credit bureaus you had less available credit to work with which can tank your score fast. Plus keeping that card open and unused would have helped your average account age over time. The smart move is to just ignore old cards and let them sit there doing nothing for you. You made a choice and now you gotta live with the consequences.

dakota4151mo ago

Right because ignoring a card you don't use is way smarter than actually... doing something about it. Guess I'll just let all my old plastic collect dust next time.