Americans turn to credit card rewards to absorb inflation
Ramsey Solutions founder David Ramsey addresses skyrocketing consumer credit card debt on ‘Cavuto: Coast to Coast.’
Consumers have been facing a number of challenges as inflation has sent the price of everyday household items higher.
That has many relying on credit cards and reward programs to try cushioning the blow.
It is a strategy that personal finance expert Dave Ramsey is against.
"We've seen decades since we've been in this bad position. And people are going to fix the inflationary problems, the pressures with the wrong tool," Ramsey said during an appearance on "Cavuto Coast to Coast." "And the credit card is the wrong tool. It's going to cause them problems later. It comes home to roost. It's really sad".