If you end up closing the accounts you have had opened for the longest period of time, you are risking a credit score drop by eliminating portions of your credit history. (creditrepair.org)
DO N'T apply right before other loan applications — Every time you apply for a new credit card or loan, your credit score drops by a small amount. (creditsesame.com)
You could see your credit score dropped from say, 750, down to 550 or even less. (creditpilgrim.com)