<human>: Can you condense the text into a few key points?

I have a credit card from CapitalOne that has been open for 8 years (got them in college, used them responsibly).  Last year, I signed up for the CapitalOne Rewards program, which gives you a cashback % of whatever you spend each month.

I didn't read the fine print (I know....) and I didn't realize that there was a $5 monthly fee attached to this program.  The cashback % is so low and my spending is so low that some months I'm technically losing money because of this program (cashback rewards are less than $5).  I called customer service and asked to withdraw from the program, but they said that the only way to do so was to close my account entirely.

I'm reluctant to close my account because this is the oldest line of credit on my credit report and I know that it would negatively affect my credit.   I know that I can just increase my spending (putting monthly bills on credit card and pay it off at the end of the month), but I'd rather switch to a credit card that has decent rewards and no annual fee, instead of trying to keep my head above water with this stupid card I have now.  

What is the best course of action?
<bot>: credit card rewards program is charging me $5/month to be in rewards program; can't get out of program without closing account.