New credit card holders can benefit from some basic credit card help and advice. With so many credit card companies offering cards to university students, it's important that they learn at a young age how to avoid getting in over their head in debt. Many students are rather clueless when it comes to managing their personal finances since these details may have always been handled by their parents.

Add in the temptation of spending more on social activities and the credit card bills can rack up very fast. Some students even resort to living on credit card cash advances as a way to stretch their budgets between part time jobs and money from home. While a credit card can be an important tool for building credit history and managing your financial life, it can also be detrimental if you abuse it.