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Level 1
November 16, 2019
Question

Question

  • November 16, 2019
  • 1 reply
  • 4 views

I noticed my credit score dropped when I got a new credit card. If I cancel that credit card , will my score go back up or will It hurt my score again 

    1 reply

    Level 15
    November 16, 2019

    @Jimling22taxes wrote:

    I noticed my credit score dropped when I got a new credit card. If I cancel that credit card , will my score go back up or will It hurt my score again 


    It will lower your score but that decrease will probably be temporary. 

     

    Read the information at the sites below for tips on this issue.

     

    https://www.nerdwallet.com/blog/finance/does-closing-a-credit-card-hurt-credit-score/

     

    https://www.creditkarma.com/credit-cards/i/how-to-cancel-credit-card/