No. of Recommendations: 0
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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?
<<<

You should be able to carry a card with no balance. If this leads the lender to raise your APR then you have two choices: 1) keep paying off each monthly balance so that the APR is never an issue or 2) find a card that won't change. If the card carries an annual fee I would ditch it.

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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?
<<<

If its easier for you to find a card with a permanent reasonably low rate then constantly switching accounts go for it. In my opinion, it depends on the difference between the teasers and the permanently low card. There are other places to look for consolidation funds as discussed here:

http://www.fool.com/Credit/Credit.htm
http://www.fool.com/credit/PayBack.htm

Remember, just by admitting your problem here you are on the right track :)

Patrick
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