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natalove

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balance transfers close old account
I had a credit card with Citi that I worked hard to lower the interest rate over a period of 4 years. They were not working with me much and only lowered the interest rate by a minimal amount. About one month ago Citi considered my card to be compromised (probably because of the Target credit card theft) and they closed my account for me and gave me a new account. I decided to try another credit card company and they were able to beat my current interest rate by 3%. Should I close the Citi account after the Balance Transfer is completed since this new Citi account is only 1 month old? I currently have another card that has a high limit but it is with a jewelry store and I won't be making monthly purchases with that card. What is best for my credit score?

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One of the best things on your credit score is showing a large amount of available credit.  If you were to close the Citi card your "available credit" would drop by whatever the credit liit was on that Citi card, and that will hurt your score.  Just keep the card (lock it up in a home safe) and use it once in a while, paying in full when the statement arrives.  That would be the best thing to do.

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