Many thanks for your answer and advice, BigMatt. Much appreciated.

They wouldn't let you close the account with a balance outstanding - you may have give them notice to close but until that balance is £0.00 it will remain open and you will be liable for the minimum payments. Yes you should be able to apply for a new CC with a better APR and then apply with your new CC for a balance transfer and then your new CC will pay off what you owe on your existing card. Be aware there will be a balance transfer fee that will be approx 3% so for every £1000 you transfer over this will cost you £30 and this will be added to your balance - however please be aware that certain cards (well it has happened to me in the past) include the transfer fee in the first months minimum payment - it only happened once to me but please be aware of that.

I have just closed my credit card account as they gave notice that the APR was to rise significantly and I couldn't afford it. I have been told I can pay off the balance at the current rate. Can I transfer this balance to another credit card, or does the account still need to be open?