Originally Posted by
bobert24
I used to keep them open for a year (or as close to it as possible), so that they would look better on my credit report in case I had to go through manual recon with another issuer. Now, like most people in this thread, I'm pretty much 100% locked out of cards from anybody else (way too many recent apps), so there's no longer any point to that. I've had as many as 6 per person open before, but now I'm always at half that or less.
The only exception is cards that may have a refund coming. It's easier (and more under the radar) to keep those open and get the refund than to get a refund on a closed card, request a check for it, etc.
Refund goes to closed card would eventually be a check mailed to you automatically after it is there for 2 months - seems it is the regulation when credit is not touched for 2 billing cycles the credit balance would be auto-refunded by check. It probably would be too much a hassle for the banks to program different treatments for active and closed cards. There is no need to request a refund check if you dont need the money immediately. It would come after 2 billing cycles the refund is posted.