Create a small module for this.follow the following steps
Step 1: Create a xml file in the app/etc/modules/Res_CustomerNavigationLinks.xml
<?xml version="1.0" ?>
<config>
<modules>
<Res_CustomerNavigationLinks>
<active>true</active>
<codePool>local</codePool>
</Res_CustomerNavigationLinks>
</modules>
</config>
Step 2: create a xml file in the app/code/local/Res/CustomerNavigationLinks/etc/config.xml
<?xml version="1.0" ?>
<config>
<modules>
<Res_CustomerNavigationLinks>
<version>0.0.1</version>
</Res_CustomerNavigationLinks>
</modules>
<frontend>
<layout>
<updates>
<customernavigationlinks>
<file>res_customernavigationlinks.xml</file>
</customernavigationlinks>
</updates>
</layout>
</frontend>
<global>
<blocks>
<customer>
<rewrite>
<account_navigation>Res_CustomerNavigationLinks_Block_Account_Navigation</account_navigation>
</rewrite>
</customer>
</blocks>
<helpers>
<customernavigationlinks>
<class>Res_CustomerNavigationLinks_Helper</class>
</customernavigationlinks>
</helpers>
</global>
</config>
Step 3: Create app/code/local/Res/CustomerNavigationLinks/Block/Account/Navigation.php
<?php
class Res_CustomerNavigationLinks_Block_Account_Navigation extends Mage_Customer_Block_Account_Navigation
{
public function removeLinkByName($name)
{
unset($this->_links[$name]);
return $this;
}
}
Step 4: Create app/code/local/Res/CustomerNavigationLinks/Helper/Data.php
<?php
class Res_CustomerNavigationLinks_Helper_Data extends Mage_Core_Helper_Abstract
{
}
Step 5: Create app/design/frontend/base/default/layout/res_customernavigationlinks.xml
<?xml version="1.0" ?>
<layout>
<customer_account>
<reference name="customer_account_navigation">
<action method="removeLinkByName">
<name>billing_agreements</name>
</action>
<action method="removeLinkByName">
<name>recurring_profiles</name>
</action>
</reference>
</customer_account>
</layout>
Clear cache and see you have done.
Reference & Credits: Link
**4)**Replace code in app/design/frontend/base/default/layout/res_customernavigationlinks.xml
<?xml version="1.0" ?>
<layout version="0.1.0">
<customer_account translate="label">
<reference name="customer_account_navigation">
<action method="removeLinkByName"><name>account</name></action>
<action method="removeLinkByName"><name>account_edit</name></action>
<action method="removeLinkByName"><name>address_book</name></action>
<action method="removeLinkByName"><name>reviews</name></action>
<action method="removeLinkByName"><name>orders</name></action>
<action method="removeLinkByName"><name>newsletter</name></action>
<action method="removeLinkByName"><name>billing_agreements</name></action>
<action method="removeLinkByName"><name>recurring_profiles</name></action>
<action method="removeLinkByName"><name>tags</name></action>
<action method="removeLinkByName"><name>wishlist</name></action>
<action method="removeLinkByName"><name>OAuth Customer Tokens</name></action>
<action method="removeLinkByName"><name>downloadable_products</name></action>
</reference>
</customer_account>
<customer_account translate="label">
<reference name="customer_account_navigation">
<action method="addLink"><name>orders</name><path>sales/order/history/</path><label>My Order</label></action>
<action method="addLink"><name>wishlist</name><path>wishlist/</path><label>My Wishlist</label></action>
<action method="addLink"><name>account_edit</name><path>customer/account/edit/</path><label>Account Information</label></action>
<action method="addLink"><name>address_book</name><path>customer/address/</path><label>Address Book</label></action>
<action method="addLink"><name>billing_agreements</name><path>sales/billing_agreement/</path><label>Billing Agreements</label></action>
<action method="addLink"><name>recurring_profiles</name><path>sales/recurring_profile/</path><label>Recurring Profiles</label></action>
<action method="addLink"><name>reviews</name><path>review/customer/</path><label>My Product Reviews</label></action>
<action method="addLink"><name>tags</name><path>tag/customer/</path><label>My Tags</label></action>
<action method="addLink"><name>address_book</name><path>oauth/customer_token/</path><label>My Applications</label></action>
<action method="addLink"><name>OAuth Customer Tokens</name><path>newsletter/manage/</path><label>Newsletter Subscriptions</label></action>
<action method="addLink"><name>downloadable_products</name><path>downloadable/customer/products/</path><label>My Downloadable Products</label></action>
</reference>
</customer_account>
</layout>
Now you can add/remove or re-arrange customer links.