Closing Credit Cards Can Raise Utilisation, Lower CIBIL Score

If you close a credit card, you have less credit available.

That makes the money you owe look like a bigger part of what you can borrow, which is not good for your credit score.

Closing the oldest card can also make your credit history shorter, which can hurt your score.

Bank savings or checking accounts don’t affect your credit score at all.

The best way to keep a good score is to keep old cards open and pay them off on time.