Yes. Paying off a revolving account can help you increase your credit score, so if you need to improve it quickly, it would be best to start with paying off your credit card debts, as they have a much greater impact on your score than other types of credit such as installment loans. As you gradually pay off your debt, you’ll free the available credit, and your credit score will go up. If you have a credit card you’re using just for rewards and bonuses, it might be wiser to keep it as closing it down can negatively affect your score.