nui/Getty Images
Inflation has been steadily rising for the past few months, jumping from 2.4% last September to the 3% rate seen in January. Unfortunately, that inflation leads to rising prices — and, often, more money spent on credit cards. It can also lead to higher interest rates, too.
“It can further push borrowers into a continued cycle of ongoing debt,” explains Kim Chambers, credit card product manager at Georgia’s Own Credit Union.
If inflation keeps rising, it will undoubtedly impact credit card debt across the country. Below, we’ll…
