College Students Learn How To Use Credit Wisely - | Lufkin and Nacogdoches, Texas


College Students Learn How To Use Credit Wisely

by Donna McCollum

Studies have shown that students are doing better than some adults at managing their credit. Not the kind of thing grownups want to hear during a season when they're pulling out the plastic more than they should.

SFA senior Cortney Charba's 18th birthday present was a credit card. She's advising Autumn Landrum who is leery about having a card. "Make sure you can pay off every month. Don't charge more than you can pay," warns Charba.

This is just some of the advice an SFA marketing class shared with an entire campus during the semester. The class teamed up with Citibank to spread the word about wise credit card use.

Student coordinator, Michelle Gibson learned, "Credit cards aren't a bad thing as long as you know how to use emergencies, when you don't want to have to carry cash on you, for big purchases. We emphasized you can use your credit. It's not free money. It's a loan."

57 % of college students now carry credit cards. They want to establish credit history and like their convenience.

Yet the class found their peers needed reminders on using credit wisely. Instructor Barbara Bieber-Hamby said, "So many people on this campus don't even know basic things like APR (annual percentage rate). Team teacher and marketing professor, Dr. Marlene Kahla agreed. "Right, and they don't check their lists on what they supposedly charged on their credit cards."

Despite the advice Autumn helped spread, she is in no hurry to get a credit card. She prefers using cash, buying only what she can afford. "I'm just one of those people that whenever I purchase something or pay for something I want to make sure that I have the money."

Another advantage she believes is being more stress free than students who are trying to pay off thousands of dollars in credit.

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