, and it is becoming increasingly difficult for consumers to manage. Rising prices mean consumers need more money to cover their expenses, so they are turning to credit cards to bridge the gap. Unfortunately, this can create a cycle of debt and interest that can be hard to break. To combat this, consumers need to be more mindful of their spending and budgeting habits. They should create and stick to a budget, pay their credit card bills in full and on time, and pay off their credit card balances as quickly as possible. Additionally, consumers should research rewards programs that can help them pay off their debt faster and look for credit cards that offer low interest rates and fees.
Inflation is driving up consumer credit card debt by billions of dollars
