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What's the best way to do this?

My dad has a Key Bank credit card at 12.99% that charges him a $50 fee every year. He hasn't used it in a few years and it's been at $0 balance all that time. I've contacted them (with his permission) to see if they can lower the interest rate, but they say no.

I'm positive he could get a card at a better interest rate that doesn't charge him an annual fee. Is it better to get the other card first and then drop the Key Bank card, or drop the card and try and get another card after?

There's no point in him paying $50 a year for something he doesn't use. He does have a couple of other cards. One (CAP ONE) has a 9.99% rate the other(CITI) which he gave to my brother to use, (insert long story here) which is at a rate of 0% then goes up to 12.99%. (I advised him _NOT_ to apply for this card and he did it anyway.)


Any thoughts, suggestions?

(I'm guessing you're going to tell me to ditch the whole plan.)
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