A system and method for point on wave closing of a switching device, where the close initiation point is selected so that a minor current loop is generated that minimizes the accumulated current during the closing operation. The method includes determining bounce characteristic of contacts in the switching device during the closing operation, identifying available close initiation points on a voltage wave for a voltage across the contacts, selecting one or two of the close initiation points on the voltage wave that minimizes the accumulation of current during the closing operation, and closing the switching device using the selected close initiation point.