Cancel pre-paid credit card?

[mebtba]

Hi!

I have been reading this forum since 2012, but this is my first post.  Thanks to all for your contributions.  The information on this site really helped me rebuild post bankruptcy!

Here is my question, and I would be grateful for help:

I was discharged for Chapter 7 in Oct 2010.  In early 2010, I obtained a pre-paid credit card and put down $1000, to start reestabishing my credit.

Since then, I added two other credit cards, which brings me to a total of 3 credit cards:

1). Capital One - $1750 CL

2). Capital One Spark - $9000

3).  Prepaid credit card - $1000 (oldest of my active credit cards)

I also have an auto loan, and a mortgage through Wells Fargo. 

I would like to cancel my Prepaid credit card because it has an annual feel on it; I don't use it really, except to keep it active.  However, I am concerned about cancelling it because:

1). It would reduce my available credit from $11,750 to $10,750.  This is a decrease of about 8%, so I am thinking it may not matter?

2).  While my oldest CLOSED credit cards is almost 20 years old, all my credit cards were closed at the time of bankruptcy.  The prepaid credit card is the oldest, active credit card I have.  I am wondering if closing this credit card will hurt my average age of credit?

My score is currently 693 with EQ and I am trying to bring it to 720+ this year, and really don't want to anything to hurt those chances, but hate paying the annual fee for the prepaid credit card. 

Should I close the pre-paid card or just bite the bullet and keep it open for the sake of rebuilding my credit?

Thank you in advance for your input.

[llecs]

Locked thread to direct others here:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Cancel-pre-paid-credit-card/m-p/2099987