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You can't lose your credit history. What will happen if you close your line of credit is that it will show up as such on your report, and if you have nothing else contributing you won't continue to build your rating. Building your rating in your early twenties is important so that you can get that mortgage or whatever in your late twenties or early thirties.
Negative things will only appear on your credit history for seven years, but there's no such limit on items that impact your score positively that I'm aware of. On the other hand, if you do try for a loan or line of credit and you don't have any recent activity that could make things more difficult for you.
You can still shop online, just make sure you have the cash available when you do it. If you're going to spend $80 on a textbook, have the $80 first. Then you can use the card to buy the book and pay off the book on the card.
You don't have to wait until you receive your statement to make payments on your card, either. Buy the book, head over to your bank's website and pay the book off. I would imagine that you can set up your credit card as a biller on the BoA website so that you can do the whole thing in a few clicks.
Rules For Credit Cards:
Only use it in emergencies, always try to have the cash on hand. Make payments well before the due date, and pay more than the minimum. And never, ever take cash advances. The rates on those are often over 20%, especially on an introductory card like the one I assume you have.
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I wake up in the morning more tired than before I slept
I get through cryin' and I'm sadder than before I wept
I get through thinkin' now, and the thoughts have left my head
I get through speakin' and I can't remember, not a word that I said
- Ben Harper, Show Me A Little Shame
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