Although I have been churning for awhile I have not asked for a lot of advice on this and would like a bit of help in a couple of areas. Is there any downside of cancelling a card as soon as you don't have more need for it (i.e. you used all its points)? Is there a period you should always hold onto the card for since it was issued so the CC company doesn't come after you for its points back? Secondly, does Amex Platinum or Amex Aeroplan Platinum under any circumstances refund (prorated of course) its membership fees if you cancel before the year is up?