Report: Millennials Less Credit-Savvy

FRESNO, Calif. (KMJ) — Millennials have passed baby boomers as the largest segment of the American population.

But the rough economy has had an tremendous impact on the generation’s credit profile.

According to credit reporting firm Experian, millennials are not nearly as credit savvy as older generations.

Although, millennials are purchasing cars earlier in life, which is giving them some opportunity to establish credit.

Experts say the challenge is understanding how the younger generation establishes their finances, given the role they play in the marketplace.