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Update: My coworker in Denver said his score dropped 30 points for a simple reason
He told me he paid off his only credit card and closed the account, thinking it was a smart move. The drop happened because it messed up his credit age and available credit. Has anyone else seen a big hit from closing an old card, even with no debt on it?
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wren97811d ago
Oh man, the classic "I did a good thing and got punished for it" move! It's like the credit score system saw him being responsible and just had to knock him down a peg. I swear, keeping an old card open with a zero balance feels so backwards, but here we are. That's a brutal drop for trying to be debt-free.
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lily_stone7610d ago
Yeah the "keeping an old card open" thing is so weird. Makes you wonder if the whole system is just built to keep you using credit forever, not to actually reward being smart with money.
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