Congratulations, you've just gotten your very own credit card, and looky here, a limit of $2000 and you got a free "Corona" t-shirt out of the deal. You could be the coolest kid in college with mad financial skills like this!

So, tell me about the card,
What's the APR?

ok, What's the Annual Percentage Rate?

28% huh? Is that the default rate?

28% is the regular rate... oh, and HOW MANY pizzas did you order?

20!!!

Congratulations, you're a debt-laden college student. If you are reading this right now you are years ahead of where I was when I was 19, now is time for you to make a choice: Be broke and owe money, or Be broke and live debt-free.

1. Credit cards do serve a purpose for you, establishing a good credit history makes it easier for you to do what you want as an adult, whether it be buying a home, buying a car, getting a job, or impressing a landlord.

2. If a card offer comes in the mail, be skeptical and if you don't like to read fine print, don't get a card through the mail (or free prize on-campus card recruiters)

3. When you have your card use it for one specific expense (gas) and pay it off every month. This will build your credit while imposing a limit on your spending.

4. Work through school. One semester is ok to not have a job, but if you can find work early in school you could wind up being a student manager, giving you experience that will set you above everyone else your age after you get that $40,000 piece of paper.