Some experts say that you should close old credit cards that you're not using very often. That can be a good idea if you're tempted to max out your credit cards. However, John Ulzheimer, president of consumer education for Credit.com, calls this "probably the worst piece of advice that anybody can follow." That's for two reasons: First, the length of your credit history is determined by the age of your oldest account. The longer your history, the better. So even if your oldest account has some negative information on it, closing it could do more harm than good.
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