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Question By
Hanyo007

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Credit card I never used was cancelled by bank, credit score went down 20 points. Why?
A credit card I didn't ask for was sent to me . I never used it even once in 5 years. Chase Bank called and said if I didn't use it or want it, they would cancel the card. I said, "fine", I didn't want it anyway. As a result, my credit score went down 20 points. How come?

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Because whatever available credit you had on that card was now removed from your total available credit.  The MORE available credit you have (even if you seldom use it) the higher your credit score can be. 

Please read the articles on this site (look on the left of the page under Resources) so you can better understand how credit works becvause the purpose of Credit Karma is to teach people about credit so they can achieve a much better credit score.

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