Last week, Subway and Quizno’s offered free sandwiches in exchange for filling out a credit card application. What a wonderful idea! Wouldn’t it be great if Jared would come out and explain how Subway can help you lose 300 pounds and build a credit history?

I recently read an article directed to college students that encouraged them to forego using credit cards in favor of debit cards. WRONG! Credit cards are superior to debit cards on nearly all levels. Here are some examples:

1) Fees—Using a debit card will typically amount to a small fee on your checking account, most likely between $5-$10 a year. A credit card with no annual fee has... no annual fee. There. Save five bucks and go to the Apollo.

If you overdraw your balance on the debit card, you can count on a hefty fee to the tune of $30-$50. Although credit cards have fees for exceeding your balance, you have the option to either pay part of the bill before the cycle is over or ask to have your credit line extended.

2) Billing—Credit cards bill you once a month. If you make a purchase and then return it before the cycle has finished, you won’t have to pay for it. A debit card, however, instantly deducts the amount from your account. If you make a return, you have to wait several weeks for the bank to post the money back to your account.

3) Payback—The vast majority of credit cards come with a rewards system that returns a small percentage back to the cardholder. Be it points, airline miles or cool, hard cash, using a credit card with a rewards system is like buying everything on sale. Think about it. Everything on sale!

4) Building a history—There is only one way to build a credit history, and that is by consistently paying your credit card bills on time. Starting now will improve the rates you can receive on future loans, which will be very useful when the time comes to buy a new car, house, or amphibious assault vehicle.

Yes, credit cards are great. But, much like Spidey’s abilities, with great power comes great responsibility. The average U.S. citizen has $8,562 in credit card debt. In this case, you want to be an underachiever.

Credit card companies make money off those stuck in debt. The great scam is the minimum monthly payment, which keeps you in debt for as long as possible and increases your amount paid on interest. Let’s say you have $3,000 in debt. Paying $50 a month at a rate of 18 percent it will take you over 13 years and $4,732 in interest to pay it off. Ouch!

Here is my brilliant strategy: don’t get into debt. Whoa! Revolutionary! Use my three-step plan to ensure happy credit use:

1) Get a credit card. Be on the lookout for annual fees, hidden fees, and additional products—usually called something like “credit protection”—that you don’t need. You should only pay what you spend and not a cent more. Be prepared. Just like the man, credit card companies are always looking for ways to stick it to you.

2) Use the card. However, use the card only on essential items, like gas, groceries and utility bills. However, never spend more then you currently have in your checking account. Keep track of your account online or over the phone, and always, always pay the full amount due.

3) Use cash for all non-essentials (I’m thinking of a place that starts with F and ends with eve). This will ensure you don’t pile on debt by the illusion that you aren’t paying for anything.

For more credit merriment, check out www.fool.com. See you next week!