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Added January 6, 2010 from: Curtis Arnold
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Answered By Curtis Arnold: Issuers are closing out millions of accounts for various reasons and, unfortunately, this normally adversely affect your credit score. There are exceptions to this rule, but the exceptions are fairly few and far between.
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One example of an exception would be a card that you have had for a very limited amount of time and that has a very small credit line. If you have a long credit history with many different credit accounts, then closing out an account like this will likely have a minimal effect.
The main question related to this is not if your score will be adversely affected, but how much your score will be affected. It can vary greatly depending on your credit history, current utilization, age of the card in question, and other factors.
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Credit Scores / Reports
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