Before closing any open accounts, you should think about how it will affect your credit score. A credit report is actually a report about your credit history.
One factor in determining your credit score is the amount of credit that has been granted for your use and the actual amount you have used. This is referred to as your credit/debt ratio.
Closing an account reduces your available credit granted and would increase your credit/debt ratio. That could actually lower your score. Could is a relative term here because there are several other factors that make up your credit score.
Please keep in mind that the credit reporting companies very probably do not have the same information about you in their files. If one of them does not list all your granted credit and you close one of the accounts they have on file, you could really affect the credit/debt ratio with that reporting company.
That's why it is a good idea to see all three of your major credit reports and credit scores before making a drastic change like closing an account.
You can find more information about how your credit score is calculated by reading the article, Credit Report Score Chart.
You can also find more information in the article, Good Credit Score - Frequently Asked Questions.
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