Credit scores depend in part on the ratio of your credit balances vs. available credit. So in that sense, closing an account can reduce your credit score since

Credit scores depend in part on the ratio of your credit balances vs. available credit. So in that sense, closing an account can reduce your credit score since you now have less available credit. I don't know how much impact it has, certainly less than late payments or accounts in collections, but it can have some effect.