credit card company is closing my account

i have read articles where CC companies are either closing accts. or raising interest rates so high that people can't afford to make payments..they give no reason or the reasons are pretty poor..Bank of American was one of the companies that sent "so called letters" to their customers informing them that they were going to increase the interest rates on their accts. and they (the customer) had a time limit to contact the company and either accept the interest rate increase or Opt out. they gave a variety of reasons..credit score, only making min. payment, and then what they would do is lower your credit limit without your knowledge and then tell you that you are too close to your credit limit. If you chose to opt out yoU could no longer use the card and could pay off the balance at the lower rate, but If you continued to use the card then they assumed the higher interest on the entire balance. The thing about the letters is that most people thought it was junk mail and trashed them, so alot of people where not aware of what was going on until it was too late.
The article i read included more companies that just BOA. I wonder if maybe your CC Company is doing the same thing? the article was on MSN about a month or so ago in the business section.

That sounds exactly like what they are doing! What a crappy thing to do! Oh well. If I won't be able to use my card, then I may as well as add them to my Town and Country account. Maybe they would be able to get the interest rate down or eliminate it altogether. I had avoided placing the credit card companies with T & C because I thought it might show up in a credit report. So is this going to be a negative thing on my credit report? What you think I should do?