Sorry for the late reply. What APR do you currently have and is this your only credit card right now? I’m not sure if I would close it, unless they gave you a horrible APR and you think you’ll never use the card again. Otherwise I would keep it, but this all depends on your current credit situation. Sometimes closing a credit card can hurt you, but sometimes it just makes sense to close it if you are not going to use it and you have better cards.
Have you thought about asking CapOne for a product change?