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GuyFromEurope

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Why have I lost 70 points after closing my credit card?
In January I've applied for a secured credit card to build up my credit score from scratch. After 6 months my credit score have risen all the way up to the 720. I've decided that it is time for me to apply for the "real" card and this is what I did. Application was successful and I received a credit card that I wanted with a huge credit limit. Thinking that I no longer need my secured card, I went to the bank and asked them to close the account. Unexpectedly, my credit score took a huge dive, and Credit Carma reports "no data available" for my credit card utilization and payment history. I can understand lack of data about my credit card utilization (maybe my new bank have not reported data about my new credit yet), but whats up with payment history? I thought your payment history with all your accounts (open or closed) have impact on your credit score?

So the question is - is that expected? And if not, how can I fix that?

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You haven't read the articles on this site yet or you would have known that closing a credit card truly hurts your credit score.  Your score is based partly on how much credit you have been granted (the more, the better) and how well you use it.  When you close a card, you remove that card's credit limit from the equation.  

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