Ultimately it's a card-by-card analysis, and also keyed to your other cards. For example, I was not going to keep my United card, but I had a $500 car rental claim this year and I'm thinking that the fact this coverage is primary might make it worthwhile. I'd had an Amex Preferred Rewards Gold for years, but I cancelled it because I will keep my Amex Plat since I'm traveling a lot and like the lounge access. Was going to cancel our (wife's and my) USAir cards, but I think they give $10K miles with each $89 renewal. I can't sensibly keep every card, as we have about 15-20 open right now, but I may keep more than I thought. A slight advantage is that for many airlines, points expire if you have no activity in 12 or 18 months, and having the card ensures that airline's miles won't expire. Not that it's hard to generate an activity to keep them alive.