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Q #1) I am currently reviewing my credit management strategy, desiring to gradually eliminate some credit cards, since I have more open accounts that what I use or need. What is a good method to begin this process without lowering my excellent 700+ FICO score?


Q #2) I just received notice from a credit card provider that my 'fixed' APR of 9.9% since 2001(date account opened) IS NOW being increased to 15.9%, along with other misc. changes that are not a cause of concern for me. I just recently completed paying-off a balance with this card in a timely manner, so was definitely not expecting this APR increase! The notice further states that I can choose to decline these changes & cancel my account, implying the rate increase is not negotiable. Should I cancel this account due to its APR increase, & how would this affect my FICO score? Would this be a good starting point to begin eliminating credit cards...or should I attempt to negotiate APR vs. closing account?

many thanks...Apacherose
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