Getting a credit card A lot of students feel having a credit card is considered cool in college campus. Well there's nothing wrong in owning a credit card, but the mistake is when they start using the card unnecessarily. This is the worst mistake done by any student because of the high interest which comes out when one has to pay back the debt. At the moment using a credit card will relieve you from the situation but later to pay back the debt it's really hard. The recent research found out that an Average Students Loan Debt is 23, 000/- by the time they graduate. So it's advised to use the credit cards only in emergency cases.