Eric Rosenberg

How Should Millennials Start With Credit?

This past weekend, I spent four days at the Financial Blogger Conference to get ideas for making this site better for all of you. While there, I was interviewed by credit reporting agency Experian. They asked me about starting out with credit for college students and young professionals.


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This is my 3rd FinCon and I’m super excited to be back. Not only is it an opportunity to reconnect with friends and other bloggers around the blogosphere but I also run the Ignite event here which brings speakers together for short, quick fun talks. That’ll be a great night event.

It’s important for millennials to understand and know that when they get out of college they’re already running full speed towards a good credit score. That actually starts even before they graduate when they take on their first student loan or get their first credit card. So it’s important to know when you get your first card, that credit card will impact your ability to maybe buy a house later in life so you have to manage it responsibly right from the beginning. A lot of young people get out college and they want to go buy everything they can. They think they have a new shiny job, it’s time to go spend, spend, spend. And the easiest way to do that is to put the money on a credit card. They don’t understand that you really have to pay that back and the interest rates can be quite high. So it’s important to manage your credit and use it wisely so you’re not paying a lot of interest and you’re building a high score for your future.

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