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Question

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 

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Level 15

Question


@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/