Well here the credit card have been very useful to soften the inflation hits, many people I know have increased the credit card limit a lot and I mean alot this year, and I some had been told me that they use it to advance purchases of necessary things.
And I don't know if it will be a coincidence, I can't compare the north economic trends with Venezuela, but after saying that, my sister before moving to Spain had 3 credit cards and all of then was at their limit :D, it wasn't until recently that she was able to cancel it all of them since the UE€ >>> VEF
So, the interest rate you pay on your credit is lower than the inflation rate, then?
Oh yes definitely, according to the AN the annual inflation of 2017 was 2,616%. and that monthly just in February 2018 was rate 82% to add another nail also expect that at the end of the year it will be 6.147,1%.
Now you can't go crazy and get into debt without knowing that you will have a backup to settle that, but several things, at least in my case, impel me to use more credit card and an extra credit line, the interest rates for now will not reach those levels of inflation, I think the highest rate that has been heard is 29% so that is one, the other thing that influences me a lot, and I think a lot of people don't know, is the lack of products in the country. According so some organisms is around 80%, I don't think so, I think it's a little less 50 or 60%, so if luckily you find a rare product, and you don't have the money to debit it, you get the reliable credit card, and let your future self takes care of that :)
The really odious thing is that there are no official data, only NGOs, so like every Castro/Communist government, they keep all the data because they can't make up more, that complicates everything, and creates a lot of speculation. If you think The Wolf of Wall Street are ferocious, I challenge you to try to buy something in a popular market, and then you'll see the titans of speculation.
haha sometimes I wonder if you read all the comment when I talk so much :)