FlyerTalk Forums - View Single Post - A huge 76 point drop in my credit report after closing few cards?
Old Sep 7, 2015 | 1:19 pm
  #8  
mia
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Originally Posted by graceflyer
I don't have balances.
Having a balance shown on your credit report is not the same as carrying a balance on which you pay interest. Most card issuers report the statement balance. Your credit report will show those balances, even if paid off before the next statement. The ratio of those balances to your individual and aggregate credit limits are elements in calculating your credit score. Closing accounts reduced your aggregate credit limit, which made your reported balances a higher fraction of your available credit.

Last edited by mia; Sep 8, 2015 at 8:52 am Reason: Grammar
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