 TITLE: Why Did My Credit Score Drop? CONTENT: You Closed a Credit Card\n------------------------\nThink twice before closing a credit card you don't use. Closing a credit card account will not only increase your utilization ratio, it may also reduce the length of your credit history—both of which can impact your credit score.\nWhen you cancel a credit card account, that credit limit is removed from your overall utilization ratio, which has the potential to lower your scores. Closing a credit card account you have had for some time can also shorten your average credit age, and that will factor into your credit score.\nThe length of your credit history counts for 15% of your FICO® Score, so a longer history is better for your scores. Keep in mind, however, that if your account is closed in good standing (meaning you made all your payments on time), it could remain on your credit report for up to 10 years.\nUnless the credit card has a high annual fee that you cannot afford or it tempts you to spend more than you should, it doesn't hurt to keep the account open to maintain your credit limit and length of credit history. END