The rise in credit card defaults by Rs 951 crore has raised concerns about the financial repercussions faced by individuals who default on their credit card payments. When a credit card holder defaults, it can lead to various adverse consequences, including higher interest charges, late payment fees, and a negative impact on their credit score. Additionally, the article discusses the actions taken by banks and financial institutions when faced with default, such as initiating recovery procedures, reporting the default to credit bureaus, and even legal action in extreme cases. It emphasizes the importance of responsible credit card usage and timely payments to avoid the financial pitfalls associated with defaulting on credit card debt.