With the rising cost of living, it’s more important than ever to protect your hard-earned dollars. One trick many use to help lower the pain of inflation is using credit card perks for their finances. But which perks work the best to curb inflation? Here are our favorites.

1. 0% APR promotions

0% APR balance transfer promotions are great for people looking to get ahead on their debt without worrying about rising inflation and interest rates. 0% APR promotions are great for when you need to make large purchases or want to consolidate credit card debt.

2. Cash back rewards

Cash back rewards are a great way to reduce the pain of inflation and get a nice chunk of change back in your pocket. Most credit card companies offer at least 1% cash back on purchases, making it a great way to make the most of your spending.

3. Membership rewards at select merchants

Many credit card companies are partnering with stores to offer exclusive discounts and rewards when using your credit card to make a purchase. American Express typically offers rotating rewards at different merchants for things like cash back, statement credits, and bonus rewards points that can be used for travel and other perks. Chase and Discover are also beginning to offer more of these options as customers look for ways to lower the hit they take from inflation. Brick and mortar and e-commerce stores are also increasing their partnerships with creditors since they understand the need to keep customers coming back.

4. Membership benefits that protect your purchases

Credit card companies are beginning to offer more incentives for their premier-tier credit cards, including discounted rates on car rentals, hotel stays, and other travel-related expenses. This can help offset the cost of inflationary prices and make it easier to keep up with your spending goals.

In addition, the included benefits these premium cards offer can go a long way toward protecting yourself from having to spend more now than necessary. Chase has a few cards that offer cell phone insurance on your phone if you pay your monthly bill with their card, while American Express automatically doubles the warranty on purchases made with over a dozen of their credit and charge cards.

5. Buy now, pay later options

Many credit card companies are now offering the option to set up a payment plan so that you can borrow money against your purchase and pay it off over time. This allows you to get your purchase without having to spend all of your available cash right away, which can help keep inflation in check.

Additionally, many cards now offer bonuses for making payments on time, so it’s worth checking out the terms and conditions before making a decision. As always, compare rates and fees before choosing a credit card as this is one area where there can be significant variation between different providers.

The bottom line

Inflation is causing the prices of goods and services to increase faster than wages, making it harder for people to afford the things they need. Using a credit card wisely can help mitigate this problem by ensuring you’re not spending more than you can afford.