Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
petlvr4life

0 Contributions
0 People Helped
Credit Card Balance Transfer - Closed Account - Credit Score Dropped
I recently did a balance transfer from Capital One to my bank's credit card because the interest was much, much lower. My bank sent a check to Capital One and paid off both of my balances (I had 2 cards). Capital One automatically closed both of my accounts, even though a) they were both paid off and it should say "paid in full", and b) I did not ask them to close the accounts. My credit score has now dropped 21 points. Is there anything that I can do?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1134 People Helped

Probably not much that you can do. Not really that big of a hit anyway, what Capital One did to you was wrong in my eyes. Keep reading the info on the net on how to increase credit scores and check your FICO scores from time to time and in some time your credit will be better than before. Work on getting that bank credit card paid down. High utilization hurts scores.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.