I closed a credit card and I didn’t know it would effect my credit score it went from 745 to 660?

The points will come back over time.getting back to a 700 score is easier then you think. Just make sure you pay all your bills on time.

Yes if you have only one or two credit cards and you close one of your credit cards Closing one of your cards instantaneously increases the amount of debt to the amount of credit that you have that can substantially impact your credit I started off with one single credit card I now have about 20 of them and I've learned how to borrow money from One credit card to open up another credit card account open up another credit card account open up another credit card account you roll the money around and within a year you have 30 credit cards with $5,000 limits and have a 750 credit rating.

Over time, your credit score will improve if you do things right. If you miss a payment or otherwise screw up, your score will go down. It's up to you.

You don't have to 'start over', but the closing of the card seems to upset the balance you had. You likely have balances on other cards so now the percentage of available credit to what is owed is high. Leaving the card open would have been a better choice. Just use it for a small item a few times a year and pay it off at the end of the month. That will ensure it remains active. I say you don't have to start over because you can try applying for another card. Again, it's about balance here so you don't want to open too many cards or you'll get dinged for too many open accounts.

when you close a credit line, you REDUCE AVAILABLE CREDIT as a part of your overall picture. Your outstanding balance due remains the same so your PERCENTAGE OF TOTAL CREDIT USED goes up and the credit rating goes down. When you have an unused line of credit you do not need, leave it open with a zero balance unless you have to pay an annual fee.

Hi so the issue is about credit well less spending on a credit then less credit.

Challenge the change with the credit company.

You never start over. Your credit goes up and down.

Usually it stays at that level for 24 months before the score drops. If you use other credit cards that report to the credit bureau, it should bounce back in about 12 months

It will come back over time
Your credit score is partially based on credit used v credit available
Say you have 2 credit cards with $2000 limit each and you have one paid off but on the other you have a balance of $1300. You are using 30% of your available credit which is OK, you cancel the paid off card, suddenly you are using over 60% of available credit which is getting on the high side so your score goes done. Pay down the second card and your score will increase

Eventually, your score will come back up but it will take time. More than likely, two things are affecting your score - the credit utilization ratio and the age of credit. I would bet given the drop that when you closed the account, your utilization rate wen t up significantly. Anything over 30% utilization will drop your score, the more you go over, the more it drops. Bring you current balances down (paying them off would be a good start) and your score will rebound I would also bet you closed one of your oldest accounts which decreases the average length of credit. The only thing that fixes this is time. Eventually, your average length of credit will increase and you back to where you were.

You cannot start over.

If this was your only card, then you have a problem, because it's very hard to get a new card when you don't have any cards and your score is that old.

If you still have another card (one that you did not close), then you score will go up as that card gets older.