Many credit cards offer a low "teaser rate" for a short time period (e.g., six months to one year) and then raise the interest rate significantly after the teaser period ends. Since most credit cards have higher fixed or flexible interest rates than 4.99%, it would probably be better to stay with the current card as the rate is already very attractive.
However, if you are able to pay off your credit card balance during the one-year 0% teaser rate time period, then it would be better, cost-wise, to take the new credit card. Using the new card with the 0% teaser rate would save you money on interest if you would be able to pay off the credit card balance during that time.
By the way, you should be able to know in advance what the future rate on the "teaser rate" credit card will be. This information is required to be disclosed on credit card applications. Review the "Schumer Box" disclosure information on the credit card application.
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