As you acquire for a new credit card, you may thing to cancel out some of your old credit card or may be unused cards. Therefore, there is more step to closing out your account than simply cutting your older card in a half. First step to close your account is to make certain balance in your old account has been clear or paid off. If you close your account your account with some existing balance may occur negative impact witih your credit score. So with this condition you have to ensure it that your account has really paid off.