I've had the same question and have gotten different answers depending on the source: 1) any activity (applying for, getting a new card or being rejected for one, closing an exiting account, etc.) all show account activity and all are not a good thing; 2) none of the above matter...the only thing that matters is how much total credit you have access to vs. how much you're using; and 3) I presume the alignment of the moon and the stars.

I've also seen threads here saying keep them all and call them when the renewal time comes and either talk them out of the annual renewal fee or get them to give you additional miles for renewing.

I'm also hoping to see some good stuff here...good question.