Just read a report that said closing an old credit card can drop your score by over 40 points, even if you don't use it.

4 comments

4 Comments

Totally agree about the rules changing. I had a credit card from my first job that I kept open for the history. Closed it last year to simplify things and my score tanked for months. It felt like a punishment for cleaning up my own accounts. Makes you not want to touch anything.

angela_harris2mo ago

Sounds like the system punishes you for being responsible.

skyler_jackson272mo agoMost Upvoted

Maybe the system just rewards different choices, @angela_harris.

amy_anderson2mo ago

But what if the system is just broken? I know people who did everything right, went to college, got a job, and still can't afford a house. Then I see someone else make a risky move or just get lucky, and they're set. It feels less like rewarding different choices and more like a random lottery where the rules keep changing.