Secret history of the credit card – UPDATED
UPDATE
I added direct links to the videos below:
Over a Thousand Miles from Wall Street…
How the unlikely state of South Dakota became the place where America’s credit card industry first began to really take off
A Closer Look at the Industry’s Best Customers
The big profits come from the 90 million who don’t pay off their credit card debt. The industry’s success has also been shaped by the genius of financial innovators.
Credit Reporting Agencies/Traps in the Fine Print
Why it’s important to understand your credit score and how it is compiled and also to read your credit card agreement — hard as it may be to decipher.
More Complaints Than Any Other Industry
Consumers’ banking/credit card complaints increase. But the federal Office of the Comptroller of the Currency, which regulates the national banks, has been engaged in what some call a “turf battle” with the states’ regulators
The Efforts To Get Reform
Sen. Chris Dodd has introduced a credit card reform bill that would curb industry practices. But Dodd’s many previous attempts to reform the industry have all failed.
Memorable Quote: “The issuer can change the terms and conditions at will . You could be offered a 0% or 5 % interest rate today… and two months later that interest rate could be 30%”
In “Secret History of the Credit Card,” FRONTLINE® and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt. Secret history of the credit card: watch it online Advertise On This Website
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Many Credit Card Options » Blog Archive » Secret history of the credit card - watch it online said
am February 22 2008 @ 3:27 pm
[...] Read the rest of this great post here [...]
Tom said
am February 25 2008 @ 4:28 pm
Frontline has always put out some amazing features. I’ve tried to click the link but can’t find out how you watch it? It looks like you have to buy but I might be over looking the link.
Marcel Pamphile said
am February 28 2008 @ 2:35 pm
@ Tom
You can buy the DVD, or watch it online. Click on one the 5 boxes after scrolling half way down the page.
Marcel said
am February 29 2008 @ 7:43 am
I added direct links to the videos this time… enjoy
Jon said
am March 5 2008 @ 11:37 pm
Hi Marcel, thank you for this very eye opening post. Really interesting and surely provide us with more good reasons to get ride of debt.
Mike at Credit Card Forum said
am June 27 2008 @ 5:01 pm
I operate a consumer credit advocacy group and this PBS documentary really disturbed me. Indeed we need legislation that will make credit card practices such as these illegal.
Colin (Needs money fast) Taylor said
am August 19 2008 @ 11:52 am
Great article, very valuable suggestions indeed. Thanks.
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