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Hi Lynn!

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?

I always suggest closing accounts on cards with rates that are too high, and/or when you have more cards then you need.

Don't worry about the increase in rates. They won't raise your rates just for cancelling, and even if they were to raise your interest rate, it would only apply to any "new" purchases and not on what you've already made. You see, the rate you're paying on your current purchases is a rate that was previously agreed upon, so they can't change that. The trick would simply be to make sure that if you cancel the card, just don't make new purchases on it. : )

2) 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?

I wouldn't jump from card to card. I'd say just find a card with the best rate you can and go with it.

Hope this helps!

...but I still am...

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