Even if the card was an old card, when the debt is canceled the IRS considers that debt that was cancelled, forgiven, or discharged becomes taxable income. You will need to report this as income on your tax return.
There are some cases in which the debt might not be taxable, like if it was discharged in a Title 11 bankruptcy proceeding, such as a Chapter 7 or Chapter 13 case. Also if you can demonstrate to the IRS that you were insolvent at the time the debt was cancelled.