Revolving credit cards can be quickly on the debt in case of crisis

A revolving credit card with which the accumulated balance at the end of the month do not have to fully repay, but only a small part of it, can quickly pile up a debt mountain, the lift is in difficult economic times can hardly be. If you then your credit card bill due to unemployment is no longer able to pay, the whole problem. The best example is currently the U.S., where the failure rate for the provider American Express ever soar. Rising unemployment means high failure rates In June 2009 American Express had already suffered a default rate of 10.7% and it is assumed from experts that this figure continues to rise. For American Express, this means that approximately 10% of turnover generated in the risk screening must be eliminated and put in doubt. This differs from other major credit card providers American Express is also the fact that the company must bear the risk themselves rather than by a kind of franchising gives the cards to other banks so that they can really tumultuous times, coming to the company. Revolving credit card use only when needed Especially in the wake of the crisis, you should even be cautious and therefore always respecting the fact that you can pay your credit card bill. To ensure this, it is advisable to use the card really only if it is really necessary. A termination and subsequent financial difficulties may be using that is even an adverse impact on one's own cause Schufa Act and should be strongly avoided.