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.
I’ve used credit cards for (oh gosh i’m old) many years and never carried a balance nor paid a fee. I could probably optimize harder (eg: finding cards with higher rewards), but that would probably be more effort than it’s worth.
But as others have said, that’s not always easy. I knew a guy years ago who just maxed out his cards and then to his surprise he got in a lot of trouble. I don’t really know what he expected to happen. We lost touch but last I heard he’d finally managed to turn his life around, but it was a lot.