Secret History of the Credit Card

Posted in: Economics, Society

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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.

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