Recent MLLMs have demonstrated strong visual understanding and reasoning after large-scale multimodal pre-training. However, instruction-tuning is typically text-driven with limited visual supervision, leading to significant visual forgetting and degradation of pre-trained visual knowledge. Existing fine-tuning and continual learning methods compress visual representations and emphasize task alignment over visual retention, failing to address this challenge. We present a novel perspective using effective rank to quantify the loss of visual representation richness, framing visual forgetting as excessive compression under the information bottleneck principle. To address this, we propose modality-decoupled gradient descent (MDGD), which regulates gradient updates to preserve the effective rank of visual features and explicitly disentangles visual learning from task-specific alignment. We further introduce a memory-efficient fine-tuning variant using gradient masking for parameter-efficient adaptation. Extensive experiments show that MDGD effectively mitigates visual forgetting across downstream tasks and models, maintaining pre-trained visual knowledge while supporting strong task adaptation.