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while BofA is convenient, check out credit unions... they usually offer much better service as well as lower fees if any at all.
In regards to the cc, don't close it. Make the minimum until you can afford to make more payments and keep the line open. With you only having one line of credit to your name, closing the account will make it more difficult for you in terms of credit purchases such as cars or houses. One CC isn't terribly difficult to manage if you can control the spending and maintain on time payments. It never hurts to try calling the company again and asking for a lower rate. Sometimes it helps to mention that there is another company that is offering you a much lower rate and you are thinking about transferring your balance to that company because of the lower rate. They may be more inclined to offer you a lower rate because of it.
Also, just because you have maintained good payments and such, doesn't mean your rate can't go UP. A lot of companies such as Capital One and Citi Card raised rates on cards for everyone due to "hardships in the economy". For instance, I had a Capital One card with a moderate limit that had never had one missed payment, and I had paid at least double the minimum payments every month. They took me from 7% to 28% due to the "hardships in the economy". I wasn't the only one, many people had massive rate hikes. Make sure you read the TOA and if it doesn't say fixed for life, find a card that offers you a great fixed rate for life and consider moving the balance over to that company.
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