Question for the heavy churners... if you churn that many cards, do you cancel them right away or hold on to them for the first year then cancel? I guess I'm a "moderate churner" that typically holds 4-6 cards at once, 1 of which is a card I've had for a few years (good annual retention bonus), and the others I usually keep for a year, which nets out to maybe 3-4 new applications every year. I've thought about trying to increase this (to maybe 3-4 every six months vs every year), but not sure if the status of open vs closed accounts has that much effect on approvals/credit rating.