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FRONTLINE and The New York Times examine how the credit card industry has become so pervasive, lucrative and politically powerful.
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The average American family today carries eight 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 and The New York Times examine how the credit card industry became so pervasive, so lucrative, and so politically powerful.
...and much more you probably don't
banking industry executives, consumer advocates, and a federal regulator
How much do you know about Americans' use of credit cards?
"Credit Cards and Personal Responsibility,"
"The Rise of the Industry," "Your Credit Score," "When the Debt Collector Calls" and
ATM and debit card article by the State Public Interest Research Groups. Includes explanation of rights and liabilities, pitfalls, and how they differ from credit cards.
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ATM/Debit Cards: What consumers need to
know about greater fraud risk, card blocking, and debit card fees.
you a lot -- while credit card liability only $50, by law.
make banks a lot of money.
SUMMARY: A debit card is an ATM card with a VISA or Mastercard
logo on it. [VISA calls them
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FTC advice on how to protect yourself from fraud.
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Protecting America's Consumers
Avoiding Credit and Charge Card Fraud
A thief goes through trash to find discarded receipts or carbons, and then uses your account numbers illegally.
A dishonest clerk makes an extra imprint from your credit or charge card and uses it to make personal charges.
You
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