Frontline - Secret History of the Credit Card (2004)

Frontline - Secret History of the Credit Card (2004)

Frontline - Secret History of the Credit Card (2004) - 56:08 - Aug 8, 2007
PBS - www.pbs.org/wgbh/pages/frontline/shows/credit/


The average American family today carries 10 credit cards. Credit card debt and personal bankruptcies are now at an all time high. With no l...all » The average American family today carries 10 credit cards. Credit card debt and personal bankruptcies are now at an all time high. With no legal limit on the amount of interest or fees that can be charged, credit cards have become the most profitable sector of the American banking industry: more than $30 billion in profits last year alone. FRONTLINE examines how the credit card industry became so pervasive, so lucrative, and so powerful. If copyright becomes an issue on this video upload, it will be deleted immediately.