...lower rate I have two credit cards from the same company - one is an older account with a higher interest rate, the other is a newer account with a better interest rate. Both cards have balances that will take some time to pay off, and both charge an annual fee.

I recently received a notice that the newer, lower-rate card's interest rate will be going up to match the rate of the older card. I'm trying to get both balances paid off, but the rate going up will make it tougher to do this. The notice said that I can 'decline' the higher rate by closing the account. Closing the account would save me money from additional interest and from the annual fee.

Is there any downside to closing the account, and if so how does that weigh against the additional money not closing it will cost me?

Any serious advice is greatly appreciated - thanks!

Do you ever heard that people invest their credit card balance and still make good return, to pay off their balance and still have money left to keep for profit.

Research and read about it, just be careful about scam if you involve other party than yourself.

Let hear more if you find out and need to know more!

Under those conditions, I can't see any downside to closing the account, if you will be spared the higher interest rate and the annual fee, too. Closing an account does not adversely affect your credit rating, so long as you remain current in the payments.