Originally Posted by ethiopianbuffman
well everytime you open and close a credit card your credit score takes a hit from 5-10 points.
When you close a CC, your credit score does not take any point hit at all.
When you APPLY for a new CC (regardless of whether the application is actually approved and opened), your credit score takes a TEMPORARY 4-5 point hit which disappears after 7 or 8 months.