Inflation is driving up consumer credit card debt by billions of dollars
every month. This can be attributed to the surge in prices of goods and services that consumers are forced to pay for. Additionally, many consumers are also using credit cards to cover unexpected costs during the pandemic, leading to even higher levels of debt. To counteract this, consumers should try to focus on budgeting and taking proactive steps to pay down their debts. This could include reducing their spending, asking for help from family and friends, or seeking professional debt management services. Additionally, consumers should take advantage of promotional offers and balance transfers to reduce interest payments.