Credit cards can be a lifesaver during tough times like inflation. However, if you're not careful, they can also cause a lot of financial damage. Credit card interest rates are tied to Federal Reserve rates, so as they rise creditors will typically increase the interest they charge you. Below are some tips for managing your credit cards during times of high inflation. Stay safe and in control with these helpful hints!

1. Understand how your credit card issuer calculates interest rates

2. Pay your balance in full every month to avoid finance charges

3. Consider a low-interest or 0% APR credit card if you carry a balance

4. Beware of annual fees and other hidden costs

5. Keep an eye on your credit score to maintain good standing

6. Use a rewards credit card to earn cash back or travel rewards