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Question By
DAyers

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Account closed by creditor, now affecting my score
I had a gas card that I haven't used in a while and noticed today on credit karma that 1) my limit had been reduced and 2) my account had been closed (thus why my limit was reduced) My score dropped 11 points because of this! Is there anything I can do to fix it? From now on I guess I'll have to charge a few dollars to cards I don't use all that often and pay it off right away, but is there anything I can do now?

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Top Contributor
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You can try calling the card issuer and see if they will reinstate the account so you can start using it again.  And yes, be sure to use each of your credit cards at least once a year to keep them alive.  Best of luck!

Top Contributor
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The remark that it was closed by the creditor does not hurt your score.  It WILL impact your utilization ratio, which could hurt if it was a high credit limit card, and you still have a lot of other debts open.  It could also affect your "length of history" part of the score if it was a very old card and most of your other debt is newer.   If you have cards that you don't want to cancel (affecting the ratio), then you should use them periodically and pay off immediately to keep it open.

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