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If I apply for two cards, then take the one with that offers me the lower rate, and close the other account how will this affect my credit score? Is there a better way to go about this?

Applying for two cards at the same time is a red flag to card companies, since it indicates that you are in need of more credit. The applications alone will cause some damage to your score.

Also, unless they say, "12% APR for the next 12 months" or some similar guarantee they are free to jack up the rate as soon as you use the card.

I would suggest just applying for just one card rather than two, and don't carry a balance.

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