University Star

Students who need assistance with credit card management do not need to look far for help.

Kim Davis, assistant professor in the department of family and consumer science, and Money Savvy Cats will host a presentation at 5:30 p.m March 1 at the LBJ Ballroom. The presentation will address the ins and outs of credit cards to inform students on the importance of knowing how it works.

Davis and the Public Relations Student Association hosted a similar presentation last Thursday, at the San Marcos Public Library, where she discussed the importance of credit card management.

Students will learn about new credit laws, fixed and variable rates, what a credit report is, the importance of good credit, how it affects students’ futures and financial advice for choosing a credit card.

“Credit cards are your financial tool and your reputation,” Davis said.

Davis said credit cards either help or serve as an interpretation of character or personality, such as for employment, living accommodations and interest and insurance rates.

“Research shows, the first credit card we get, we keep,” Davis said. “So banks are competing and trying to get those credit cards in the hands of college students.”

San Marcos residents learned practices for maintaining balances and ways to keep reports in good standing with credit bureaus.

Nicole Snodgrass, PRSA member and public relations senior, said information about credit cards is an important tool for students and adults to have and be knowledgeable about.

Davis proposed possible financial situations attendees could face and suggested how to fix current standings with credit bureaus.

“You’ve got to know what kind of a spender you are and then you can understand whether you can benefit from a credit card or not,” Davis said.

Fred Lombardi, PRSA member and public relations senior, said the best practice for financial success is to be aware of reasonable practices before students land in themselves in trouble.

According to research collected by Money Savvy Cats, a student run program that helps others about personal finance and credit management skills, the average college senior will graduate with $4,100 credit card debt.