The hit
I got mad at bank of America last year and cancelled the oldest cc for me and my husband- a no fee card we'd had for about 20 years. (stupid stupid stupid!)
The hit on credit ratIng is not horrible. We are no longer in rare air 830+ territory, but we still are in excellent range and can get approved for any card.
Good lck getting it reinstated. It was 3 months after Before I realized what I'd done and was too late to reinstate.