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Question By
edogg28

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Closing ALL Credit Cards?
I had 3 three credit cards that I paid off entirely and closed. My credit score dropped quite a bit which I understand is normal and no big deal. My question is one of the cards is still showing active because they haven't reported it closed by consumer yet, so my CC utilization is around 68%. Once they report it closed does that make my CC utilization 100% or 0% since I have no credit cards left?

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Your revolving utilization will no longer be socreable. Your score will drop due to lack of account diversity and the closure of older tradelines.

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