Ok lets begin, with where I learned this all from my grandfather was a CPA in Connecticut and had alot of accounts in New York City.  So in short he was a mathmatical kind of guy and loved the number crunching figures.  When I was young he took me out to eat and he would say hey look Citibank just sent me a gift certificate to Red Lobster lets go eat.  I would look at him and be perplexed, why would Citibank give out gift certificates to its customers to go and eat?  Then at around 18 I got the whole rundown of how the system works and how you can use it to your benefit.
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LETS GET DOWN TO BUSINESS AND SHARE WITH YOU WHAT MY GRANDFATHER SHARED WITH ME.

FIRST  - When you go to college every known credit card company tries to sign you up for those nice 24.99% cards and they usually are around campus and giving you free stuff, like a tee-shirt or a pen or something to get you to sign their application.  The truth is that the credit card companies know that we students are all tight for cash and need some to buy all our pot and beers to get through that statistics class.

SECOND - Sign up for those cards and get the free gifts, its great for you.  Don't go nuts and sign up for hundreds.  You can sign up for about 3 or so a month.  Because the inquires to your credit report stay on for 3 months.  So if you have multiple inquiries for credit exceeding what I stated it doesn't look good and they might deny you on your application.

THIRD - You can put all kinds of crap down on you income, they don't check your taxes, I used to put that I made a $1 a year on some and that I cleared $1.5 million on others.  They gave me the same credit because it is all based on your Social Security Card.  So have fun filling out that crap for your free gift.

FORTH - ARE YOU INSANE WHY WOULD YOU PAY FOR A CREDIT CARD - NEVER EVER, EVER PAY FOR A CREDIT CARD.  Why would you pay some company to charge you 24.99% or any % to rape you on purchases made on their card.

FIFTH - Since you go to college and you've signed up for a few cards.  Other credit cards will start sending you - YOU"VE BEEN APPROVED crap in the mail.  Great open it up see what the ANNUAL FEE is.  IF IT HAS A FEE THROW IT IN THE TRASH - Why would you pay money to someone who charges you money to borrow money - There is no logic in that.

SIXTH - Now you have a few credit cards in your pocket - Great now all the APR's are different but that doesn't matter at all.  When you purchase something you have 30 days to make the payment in full without being charged interest.

SEVEN - Crap the Payment is DUE what should I do.  NEVER, EVER, EVER NOT MAKE A PAYMENT, DUMB MOVE IDIOT, YOU JUST VOIDED THE CONTRACT AT YOUR 14.99% AND PUT YOU AT THE MAXIMUM 29.99% PLUS THE LATE FEES.

EIGHT - Remember the fact you have more than one card right, and your applying for more every now and then.  THE PAYMENT IS DUE - WHAT TO DO NEXT - SEND IN A PAYMENT - and you'll say but I don't have any money I just went out drinking last night and I just bought a sack.  Great you don't need money.  Call your other credit card company, get the card out flip it over and call the 1-800 number.  Tell them you want to make a balance transfer.

NINE - HOW TO MAKE A BALANCE TRANSFER. - Ok most cards offer 9.99% for those of you with crappy credit. 5.9% to 4.9% to those of you with alright credit and 0 APR for 3 months to those of us with good credit.  SO I CAN TRANSFER MY MONEY FOR 0 APR FOR THE NEXT 3 MONTHS - WOW I really don't need to worry about buying that sack.

TEN - Fees on the Balance transfer - MOST ARE FREE TO BALANCE TRANSFER - But yes some jerk companies charge fees like 3% and if those are the only cards you have then do the math 3% now for lower APR or 24.99% plus late fees cause your a crazy and blew your cash at the bar and bought a sack.

ELEVEN - You made that phone call to your other credit card and balance transfered from one card to the other for 0 APR for the next 3 months for free - Great good thing I had 38 Credit Cards to call so see who had a deal for me, and it was the first one I picked up while smokin some of that sack.

TWELVE - WHEN WAS THE PAYMENT DUE - IT TAKES 7 DAYS TO COMPLETE A BALANCE TRANSFER

THIRTEEN - HOW DO I PURCHASE THINGS WITHOUT HAVEING TO PAY INTEREST - EASY BALANCE TRANSFER WHEN THE BILL IS DUE IN 30 DAYS AND ALLOW THE 7 DAYS TO COMPLETE THE TRANSFER.  Easy you just used one card to pay another.  Ah your labelled with revolving credit - BS I have 50 major credit cards in my pocket now and when I was 18 I had 38 cards and balance transfered every month.

FORTEEN - DON'T BE A IDIOT - SEND SOME MONEY IN.  Crap I owe $1000 on my Visa card - NO PROBLEM  get your check book out, or better yet go online and make a payment for $100 and then get on the phone and transfer the $900 to another card for a better rate for the next 30 days and then when that bill comes repeat everything all over again.

FIFTEEN - CONCLUSION - GET CREDIT CARDS - BUY THINGS - OWE MONEY- I GOT 30 DAYS TO PAY THE BILL WITHOUT INTEREST - SEND PAYMENT - BALANCE TRANSFER THE REMAINING AMOUNT - NO INTEREST EVER AT ALL - SMART ACCOUNTING.

SIXTEEN - You will start receiving free gift certificates to Red Lobster to balance transfer your debt from one card to another.  WOW GRANDPA.  YES NO JOKE - Credit Card Companies send you bribes to balance transfer your debt like 0 APR and fee goodies.

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ADDITION TO GRANPA'S ADVICE ON CREDIT CARDS
This new information came to me when I lived in Argentina, living like a rock star because it was so cheap.
I met a Puerto Rican from New York who went to Harvard Law School going to Uruguay for a month.
This is what he taught me.
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He agreed with my Grandpa's point but even perfected it to get free airline tickets.  - PURE GENIOUS
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Once again you're in college and you sign up for credit cards.  I saw the an airline card and if I sign up for it they will give me 30 000 air miles
Sign up for it.  BUT HEY THIS HAS AN ANNUAL FEE - True but only after the first year.

So you get 30,000 miles for free for lets say UNITED you used the card and run all your expenses through it.
Like your gas, your rent, your beer, your sack, your phone bill, utility bill, everything - THAT WAY YOU ONLY GET ONE BILL - WHY?
Because you're getting air miles dumb dumb.  You pay the bill or make your payment and balance transfer to another card like Grandpa taught you.

OK, but they don't give me air miles on my balance transfer - WHO CARES YOU GOT 0 APR and got miles the first time - Don't be greedy.

The year is up they tell you the card costs $75 annually, tell them to stick it and cancel the card - WHAT HAPPENS NOW IS FUNNY - They will usually give you another 10 000 air miles and waive the annaul fee for another year. - GOOD JOB AGAIN.

Then the year pases and the insist I pay the annual fee - THEN CANCEL IT - WHY BECAUSE THE AIR MILES DON'T EXPIRE WITH THE CARD THEY ARE YOURS TO KEEP FROM THE AIRLINE.

THEN WHAT? - Go sign up for another card and get another 30,000 miles for free just to sign up, then when they try to charge you the annual fee, cancel it.  Then sign up again for free for another year and get another 30,000 miles.

MY NEW PUERTO RICAN FRIEND WHO WAS A HARVARD LAW SCHOOL GRAD HAS TRAVELLED AROUND THE WORLD FOR FREE AND HAS NEVER PAID FOR AN AIRLINE TICKET AND CAME UP WITH THIS SYSTEM WHILE AT HARVARD.

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MY OWN DEVELOPED SYSTEM FOR GETTING CASH AT A 0 APR.  (My Grandfather and my Harvard friend were both impressed)

Ok you need cash if you withdraw it from the ATM on a credit card it is DAILY APR - What the hell is that? You get charged interest from the day you took the money out of the ATM - So I don't have 30 days for free  - NO DUMB DUMB THAT IS WHY IT IS DAILY APR.

SO HOW DO I BEAT IT?  - EASY

You have multiple credit cards don't you?

Why yes I do I have 58 credit cards now

Great take two of them with 0 balances - that means you don't owe either one of these cards any money.

Make a phone call to one of the credit cards tell them you want to make a balance transfer to the other credit card.
But I don't owe any money you might ask - That is the point

You just balanced transfered money to a card you owe no money on

What happens?  - Remember it takes 7 days to clear a balance transfer

So 7 days passes and wow you have a positive amount on one of your credit cards - Go use it at the ATM and withdraw the amount and you just got money - Cash money without a daily APR.

What - The card had a positive amount on it - THE CREDIT CARD COMPANY OWED YOU MONEY - you went to the ATM and withdrew what the owed you

You owe the other credit card company that you balance transfered with and that bill is coming in the mail and you will have to pay it in 23 days right.

Awesome you just figured it all out

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AWESOME HOPEFULLY MY GRANDFATHER, MY HARVARD LAW GRAD AMIGO, AND MYSELF TAUGHT YOU HOW TO GET AHEAD OF THE CREDIT CARD COMPANIES.

GOOD LUCK