I spend about 10 hours a week trying to come up with fun, exciting, captivating new ways (although there is really nothing new anymore) to talk with students about being smart with credit cards.

Yes, I do have a life ... but not only is it my job to promote financial education, it's my passion. When I read the latest research or see in the morning paper that today's students are spending over $175 billion using credit cards, I freak! I realize that we as a society have become too dependent on plastic to live day to day. So, it seems everyone can use a few pointers on "credit card smarts."

Have you even thought about how you use credit cards? I only have one (I live for those United frequent flyers miles), but my mom has 28 credit cards—yup, 28 of them! She has one for every department store at the mall. She actually believes she saved money by opening a new credit account at each store because she got 10% off her first purchase—YIKES.

I asked her if she knew all these open credit accounts impacted her credit report. You can guess what her reply was ... She had no idea. My next question: "What is your interest rate on each of those cards?" Her reply: "I have no idea." She showed me 11 credit card statements—fortunately, all had zero balances—but the APR(annual percentage rate) ranged from 18% to 27%. When I walked her through the cost of using these cards I thought I'd lose her—CPR needed any minute. Although it took a few more conversations, she has now closed 17 of these accounts—not all, but a terrific start. Definitely an "A" for effort.

This was not an easy conversation for us to have, but we both learned a few things:

• Credit cards are easy to get—but not good for your financial health.
• Shop around for your credit card—compare interest rates.
• One credit card is plenty.
• 10% off your first purchase or a free T-shirt does not make a good credit choice.

Many of you may just be getting started with credit cards, but you may already find yourself experiencing some "questionable credit card" experiences. How do you determine when to use your credit card?