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I've learned so much form this board, and am eager to learn more! Any thoughts on these questions?

1) For varying reasons, many of you have suggested closing CC accounts even though they have balances. I have a good rate on one of mine, and am concerned that they may raise the rate if I cancel. Has this ever happened to anyone?

2) I understand that Arkansas banks are limited to charging the Discount Rate, unlike, for instance, Delaware and South Dakota banks that are less restricted and are able to charge very high rates. I have two cards with about $6000 each (ugh!). I'm wondering what might be the best approach in the long run: hopping from teaser-rate card to teaser-rate card, or settling down with a bank that promises relatively decent rates consistantly?

As always, thanks in advance for everyone's help!

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