This myth is nothing but a common delusion with among credit holders. The truth is that closing old accounts won’t affect your credit score, but opening these old accounts will surely hurt your score. Having too many accounts also does damage to your credit score, because your score is usually affected by the difference between the available credit and the credit that being used. Shutting-off an old account only helps to make your credit report look young and fresh, but the damage has already been done before. As i mentioned in previous articles also credit score depend with your past finance managements, so closing of an old account won’t help with the credit score.
