Many students are too relaxed about how they use student credit cards. It's easy to get one - you can even apply online and be approved within minutes. However, when the bill comes it's not all fun and games anymore, especially when you're low on cash and struggle to make the minimum payment, Before you know it, you could be deep in debt.

And what's this? Balance transfer? Before you embrace this as the solution to your money woes, think for a minute. Is it really possible to just keep juggling your credit card balances?

Simply put, no. There will eventually be a point where you can't continue. Balance transfer just delays this. You don't need (or want, trust me) a wallet full of cards if just one is giving you a lot of trouble. This is a poor method of debt management which can get you in trouble fast.

Cash advances are another thing which gets a lot of students into trouble.

You can just put your student credit card into an ATM and get cash, quick and easy. Don't fall into this temptation.

Students especially take advantage of this feature too often. If you have a genuine emergency, cash advances can really help. But too often this is used for non-essential purchases.

A cash advance is essentially a very high interest loan. Suppose you take out a $100 cash advance on a Saturday.

If you do this every week, you'll rack up $400 in debt each month. What's worse is that on many credit cards, cash advances carry a higher interest rate - making it all too easy to get deep in debt quickly.

You may have run into a situation where your friends are low on cash - if you just buy the next round, they'll get you back next week. So you charge it and wait for them to pay you back. While waiting, your bill comes due. Your card company has to be paid, regardless whether your friends have made good on what they owe you or not. The card is yours and so is the balance owed.

While your friends may have that $50 they owe you slip their minds, making these mistakes are not forgotten. Juggling your balance from card to card in order to keep spending on unnecessary purchases will just get you into debt and probably result in a poor credit rating.

You may not think this is important now, but when you're out of school and want to buy a card or a home, it will matter quite a lot. Think of that next time your friends ask you to charge a round...