Credit Card dilemma.

Currently I have the same card since 1995, at the time it was a master card with MBNA. Great, great company while with them I converted to an AMEX card, (they where the first company to offer an AMEX outside of American Express.) Then trouble begins when they were bought out by Bank Of America (BOA). My main question is this. BOA is starting to charge an annual fee of $29. I have never and refuse to pay an annual fee for a credit card. Reason have a great credit score and balances have been paid in full each month for years. If I cancel this card because of not paying the annual fee I lose a huge chunk of great credit history. So I called BOA to see if I could get the fee waived, their response was "no." Next question to BOA can I change to another card like visa or master card to maintain credit history and avoid the credit history, response was no.

Personally I would love to close the account but is this a wise decision? I have a second credit card which is a visa for only one year, and a coupe days ago applied for the AMEX associated with Costco.

Your thoughts?