Whatever credit limit you had on there is no longer calculated in your util (percentage of your revolving balances divided by your revolving credit limits.) If it had a high CL, and you don't have a large total CL, your util might go up a bit.
It will keep reporting for 10 years after closing, helping your history. After 10 years, it will "fall off" your reports, and if it's your oldest account, or if you don't have many other accounts, you might lose a little history there.
You probably won't see any effect on your scores. You might ask if they'd be willing to report it as "closed by consumer." If they won't, just be prepared to explain the circumstances if another lender questions why they closed you down.
I hope there wasn't a balance on the card, was there?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007