NerdWallet CEO reveals the best credit cards for ‘trimming costs’ amid record inflation
NerdWallet founder and CEO Tim Chen provides economic analysis of the best credit cards available, breaking down the benefits and drawbacks of each on ‘Mornings with Maria.’
During an interview on "Mornings with Maria," Wednesday, NerdWallet CEO and founder Tim Chen breaks down the assets and liabilities of the top credit cards currently available, arguing that your choice of card and its correlating interest rate can significantly help consumers fight inflation.
TIM CHEN: NerdWallet helps 20 million people a month make decisions just like this one. And, as you said, inflation is defining America right now. So, there's kind of two buckets to think about here with inflation. The first one is really how to make ends meet. We see 26% of cardholders in a recent survey running up balances just to get through to the next month. And second, it's really about trimming costs. So getting a few percent cash back can really help. Or getting some discounts on those travel that people are doing now. So in terms of interest, you can get 0% for up to 21 months with a card like the Wells Fargo reflect. And that's great for purchases and balance transfers alike, and so that's a great option. Now, in cashback, some people like to keep it simple like me for no annual fee and 2% cash back.