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BREAKING:

Fed raises rates 0.25% amid banking crisis, signals hikes nearing end

Inflation is easing, but more people are using credit cards for unexpected expenses — even as the Fed is expected to raise borrowing costs

354
Andrew Keshner
·4 min read
Inflation is easing, but more people are using credit cards for unexpected expenses — even as the Fed is expected to raise borrowing costs

A record number of people say they would need to pay for an unplanned $1,000 expense by using their credit card, according to a new survey showing the burden of high prices even as inflation rates ebb from four-decade highs. One quarter of people said they would rely on credit cards and have to gradually pay off $1,000 in unanticipated costs for something like a car repair or a medical problem, according to a Bankrate.com survey released this week.

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