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I recently opened up a new credit card with a company called "Final". That company has decided to close down (they did not go into details on why). In response to this, I have 2 questions:

1) How will this closure affect my credit score?

2) If this negatively affects my credit score, is there anything I can do to minimize that?

Update:

In response to RonJohn's answer, I wanted to provide the public source for where "Final" has communicated that it is shutting down.

Included as a screenshot for when the webpage is taken down.

enter image description here

tarheel
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1 Answers1

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I find no mention of Final closing down in Google. Anyway, it's issued by an actual bank (First Bank & Trust of Brookings, SD), and the bank isn't going out of business. Thus, I'd suspect they'd convert you to a standard Visa.

Even if they don't, closed accounts have a minimal, temporary impact on your score.

RonJohn
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