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

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.

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.

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.

Challenge the change with the credit company.

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