Closed Credit Card Account

I was approved for a home depot cc with $5000 credit limit in November 2018. I made one purchase on the card for $258. I paid the balance off in full. On December 21, 2018 I received a letter saying my cc account had been closed. Letter said I would have to write a letter to them to request reason for closure. I did that and still have not received a response. Will this hurt my credit score and if so can I dispute it?

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I had a 300 dollar credit limit with Fingerhut paid it off. They raise my limit to 800.00 dollars and my score went up. Then I decided to close the account so I wouldn’t use it and my score went down more than it went up when they increased my limit.