Home Investing Inflation is driving up consumer credit card debt by billions of dollars

Inflation is driving up consumer credit card debt by billions of dollars

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. Inflation pushes up the cost of living, which means that people need to use credit cards more often to make ends meet. Additionally, rising inflation drives up the interest rates on credit cards, making them more expensive to manage. As a result, people are taking on more consumer credit card debt, which can increase stress and financial strain.

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