How to manage credit cards in a context of rising inflation

 Credit cards can be a great tool to better manage your liquidity and financially some of your purchases in a practical way. However, especially in a context of rising inflation, payment cards can turn into a fearful element of economic imbalance.

Let's consider together some quick tips to improve credit card management and enjoy only the benefits!

Pay attention to the balance to be extinguished

First, it is vital to take steps that are helpful in avoiding high interest rate charges. When the credit card statement arrives, therefore, it is advisable to pay as much of the balance as possible: if you fall into the trap of paying only the minimum amount due, interest will be charged, which can quickly increase if you continue to maintain a monthly balance.

The best thing is therefore to have a higher balance if the card has particularly high interest rates.

Take advantage of interest-free credit cards

If, on the other hand, the card does not have a high interest rate or, even better, has an interest rate (APR) equal to 0%, it may be useful not to pay the entire balance and use it to make unexpected purchases.

However, remember that some interest-free credit cards do not charge interest on new purchases for a limited time only and that these promotional periods last 12 months or more, but can be variable - better check the details before using the card.

Take advantage of cashback

If you're not using premium credit cards yet, you may be missing out on something. In fact, you could also use them to earn rewards for the regular use of these tools: therefore consider the possibility of subscribing to a new credit card with rewards, in order to earn cashback when you use the card.

Use credits to cover expenses

Finally, if you already use premium or cashback credit cards, also consider redeeming the rewards saved to cover expenses made with your credit card. In short, don't be afraid to use credit cards to cover daily expenses. Rather, make sure you use the cards with the right caution and awareness!

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