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Closing a credit card account can occasionally be good for your credit score, or for your resolution to stop using credit cards, but it can also hurt your credit score.

Approximately 15% of your credit score is based on the length of your credit history, so if you cancel older accounts, you can effectively shorten the length of your credit history, and that can lower your credit score.

In addition to shortening the length of your credit history, by cancelling a credit card account, you may change the ratio of used credit to unused credit, which accounts for approximately 30% of your score, and that can ding your score as well if you're carrying a balance on your other cards.

If you're considing closing a credit card account, make sure you understand how it may affect your overall credit score.