GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
Credit cards will kill you.
Still, OLeary fully recognizes that you need a credit card to build good credit.
The trick is learning how to use those cards responsibly instead of treating them like limitless piggy banks.
Its a lesson hes keen for his son, and all Millennials, to pick up on.
In a follow-up video, he explained how younger generations can build smart credit habits.
The trick is to use credit cards in ways that boost your credit while reinforcing positive financial habits.
Everyone should understand that theres no way to game that system, he added.
Youve got to establish a credit rating, or you cant borrow.
Start Small and Sensible
So, how should you go about responsibly building credit?
He has one credit card with a tight $2,500 limit that he uses strictly for online purchases.
The other, he uses solely for in-person transactions.
More From GOBankingRates
Share This Article:
