Charles Payne warns of a collapse in American spending, citing steep declines in restaurant, airline, and lodging purchases. Bank of America data shows credit card spending stagnating as debt hits record highs. Rising interest rates are squeezing consumers.
If you are financially stable you can certainly use credit cards in a responsible way, gaming the system to earn cashback, points and other perks while always paying back in full and thereby never giving the card companies anything.
But it’s obviously tempting to build up debt.