The next bust may be credit cards some bankers fear.

Credit card delinquencies are on the rise and for a second month in a row a record number of credit card holders were late with their payments.  The delinquency rate edged over 4%.

It’s not that some people don’t want to pay their bills, but they may not be able to or are using their credit cards as a last resort if they are jobless. Not everyone gets a severance package when they leave a company and the credit card is a stop gap.

“As the unemployment rate accelerates and consumers’ ability to service their debt weakens, Fitch [Ratings] anticipates that gross chargeoffs will surpass 8.5% by mid-year and approach 9% by year end,” said U.S. Consumer ABS Senior Director Cynthia Ullrich.

Making the minimum payment will be difficult when you have no income. Staying ahead on your bills is easier if you have a low balance or pay the balance in full each month. Not everyone does that. If you are facing a layoff and owe a lot on a credit card. Be proactive and try to make arrangements with your credit card issuer to decrease the minimum payment, and waive or reduce fees.

Also, see if you can find any sources of income. If you are unemployed and must use a credit card, try to use the one with the lowest interest rate. It may not be your favorite card but when you have to repay your debt, the interest that you have accrued will be lower.