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Rushabh MaratheRushabh Marathe 

what to make Card_Closure_Status__c mandatory for profile name=agent

OR (
$RecordType.Name = "Release",$RecordType.Name ='Digital Part Release'),
ISPICKVAL(Card_Closure_Status__c, 'None'),
IF( Associated_Credit_Card__c = 'Yes',True,False),
)
CharuDuttCharuDutt
Hii Rushabh
Try Below Validation 
AND(OR (
$RecordType.Name = "Release",$RecordType.Name ='Digital Part Release'), TEXT(Associated_Credit_Card__c)='Yes', ISBLANK(TEXT(Card_Closure_Status__c)), $Profile.Name = 'Agent')

Please Mark It As Best Answer If It Helps
Thank You!