credit card debt

The debt by the credit card debt cat is an example of debt without guarantee of the consumer, reached by the plastic credit cards of OIN 7810.

The debt results when a customer of a company by the credit card buys an article or a service by the card-based system. The debt accumulates and increases via the interest and of the penalties when the consumer does not pay it with the company the money or she spent.

The results not paying this debt per hour are that the company will charge a late penalty with payment (generally in the USA from $10 to $40) and will bring back the delay of payment to the agencies of reputation of solvency. Being late on a payment indicated sometimes under the name being in defect . The late penalty of payment itself increases the quantity of debt that consumer A.

When a consumer was late on a payment, it is possible that other creditors, even creditor the consumer were not late in the payment, can increase interest rates that the consumer pays. This practice is called the universal defect.