How does inflation affect credit card debt?

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How does inflation affect credit card debt?

Rounding it up

  • Inflation is the reduction in purchasing power of a specific currency.

  • Credit card companies can change interest rates based on inflation and interest rates with notice; this could leave you owing more than expected

  • In an inflationary period (or any time), get out of debt and pay down balances.

6 min read

Dan Bucherer
#inflation#interest rates#debt

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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