I know that I can use my card anywhere in the US, should I bother canceling it and reapplying in the state I currently now live in or is this not allowed?

You can reapply in the state you are now living in but some states make you wait for 60 days before you can be requalified. You need to call and ask what the drill is in the new state. Be ready to give the new state all your paperwork all over again as they don't reciprocate with information to other states.