Can I raise my credit score by closing out an inactive credit account?


On One Hand: Closing Inactive Credit Accounts Will Not HelpMost experts agree that closing inactive credit accounts will not improve your credit score. According to John Ulzheimer at, closing inactive credit accounts when you are currently carrying debt decreases your credit utilization score (amount of debt as a percentage of available credit) and, thus, will negatively affect your credit score. Furthermore, you should not close inactive credit accounts, especially those with a good payment history, because your credit score is determined, in part, by a long history of credit and good payment history.On the Other: Closing Credit Accounts Will Improve Self-ControlClosing inactive credit accounts may be a good a strategy in some situations. According to Chizoba Morah at Investopedia, you can close credit accounts if you are in debt but have difficulty controlling your impulse spending. Additionally, closing inactive credit accounts may protect yourself from identity theft and