Credit card company wants to increase interest rates. What do I do?
Hi everyone. I have a credit card with 3k in debt out of 4K, I have been paying it off in the last few months but the company has now announced that the new interest rate will be 37.3%. I have an option to close the account and keep paying it off monthly at my current rate or keep the account open at a higher rate and pay it off monthly too. I don’t have much knowledge in this area and I know I’ve got myself in a shitty situation, any advice on what to do would be appreciated! Would closing the account and paying it off monthly badly affect my credit score? It is now at “fair” level. Thank you in advance
Posted Apr 9, 2026, 7:55 PM UTC
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