The conventional methods of building credit are being thrown out the window, as 6 out of every 10 millennials do not own a credit card, according to a new poll conducted by Bankrate.

Financial analysts say that millennials have a continued mistrust of bank systems in place, as they enter higher rates of unemployment and debt after college. Additionally, half of millennials admit to not paying their full balance off at the end of each month, which may be prompting them to opt out of a credit system that will further put them down the hole.

Why are millennials opting out of credit cards and opting for cash instead? How can they prepare for their financial future without the use of credit cards?

Guests:

Michelle Singletary, Personal finance columnist at the Washington Post

Kerri Anne Renzulli, Money reporter at Time, Inc. and a millennial