It can be done, although it's not the best route for everyone.
About $775,000 in annual fees will be returned.
If you decide to keep the card, here's a hack for fulfilling the requirement and avoiding an annual fee.
Choosing the right card depends on how the student is going to use it -- and always watch out for fees.
Alert: Your credit card issuer wants you to sign up for this plan. But who really benefits?
It's not quite as bad as it sounds, but you too could see this on your card statement.
Arianna Huffington says yes and is hoping you'll join her Move Your Money movement.
Free checking accounts could be next casualty as banks seek to replace revenue lost to credit card and overdraft reforms.
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FRUGAL COOL
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MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
SMART SPENDING
Children from lower income families are at greater risk of suffering accidental injuries and being sickened by food, according to a Consumer Federation of America study.
SMART TAXES
The IRS is struggling to combat identify thieves who file fraudulent tax returns in the names of older residents who don't need to file.
