Borrowing via credit cards could soon become more expensive, an industry expert has warned.

In recent months the growing number of Americans defaulting on debt has led to major credit card companies such as American Express and Capital One experiencing a drop in earnings, reports Bloomberg.

Bill Hardekopf of price comparison website Lowcards.com told the news agency that is likely to be bad news for borrowers.

"One way issuers may compensate is by being very quick to the trigger to increase rates, so if your credit score takes any kind of dip, they may increase your interest rates," said Mr Hardekopf.

A rise in credit card interest charges would add to the debt problems that many Americans already face following substantial rises in the cost of food and fuel.

It may also see more borrowers looking at alternatives to credit cards, including personal loans and debt management plans.

-----------------------------------------------------------------------