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FRONTLINE and The New York Times examine how the credit card industry became pervasive, lucrative, and politically powerful. (Aired 2004) This journalism is made possible by viewers like you. Support your local PBS station here: 🤍🤍pbs.org/donate. Millions of American families use their personal, general-purpose credit cards to make ends meet. With no federal laws on the amount of interest or fees that can be charged, credit cards have become the most profitable sector of the American banking industry.”] In “Secret History of the Credit Card,” correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt. Some experts argue the profitability of credit cards began when the banking industry successfully eliminated a critical restriction: the limit on the interest rate a lender can charge a borrower. Deregulation, coupled with a revolution in technology enabled the almost real-time tracking of personal financial information and the emergence of nationwide banking, facilitated the widening availability of credit cards across the economic spectrum. But for some, the cost of credit is often far greater than it appears. Love FRONTLINE? Find us on the PBS Video App, where there are more than 300 FRONTLINE documentaries available to watch any time: 🤍to.pbs.org/FLVideoApp #Documentary #CreditCards Subscribe on YouTube: 🤍bit.ly/1BycsJW Instagram: 🤍🤍instagram.com/frontlinepbs Twitter: 🤍twitter.com/frontlinepbs Facebook: 🤍🤍facebook.com/frontline Funding for FRONTLINE is provided through the support of PBS viewers and by the Corporation for Public Broadcasting. Major funding for FRONTLINE is provided by the Ford Foundation. Additional funding is provided by the Abrams Foundation; the John D. and Catherine T. MacArthur Foundation; Park Foundation; and the FRONTLINE Journalism Fund with major support from Jon and Jo Ann Hagler on behalf of the Jon L. Hagler Foundation, and additional support from Koo and Patricia Yuen.
credit score the new slavery.
Great Video. I am glad too be a "Deadbeat", banks suck !! And I understand why Mr. Carr wants his whereabouts unknown, his guidance of the early industry truly stuck it too the consumer
The whole money system is a con game and the banks are biggest scammers of all.
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👆👆👆thanks man for the amazing offer $7k physical card he helped me with the clone card a word isn’t enough to thank him , he’s legit with this
Interesting !
Yes So. Dakota has another issue, the Dakota Fund needs to be investigated.
Credit cards are the Apple that Adam and Eve bit into when they committed the first sin
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In fine print it reads: we will F$&@ you if you dont make your monthly balance.
Stop feeding these greedy monsters! Fantastic reporting and very revealing.
Thanks 👆👆 for the amazing offer, 5k physical card, guys patronize him for your flips transfer 💯 legit..
Some credit card companies are scumbags but one of the main problems are people living beyond their means. Keeping up with the Jones'. New cars every couple years, boat,atv bigger than necessary homes,etc.
Unequal wealth is devilish! So capitalism is devilish!
Capitalism produced communism!
USA wage is the only cause of world poverty and crimes and wars worldwide!
“Rogue State” by Wm Blum shows us how USA has been violently forcing all nations into capitalism, by starting over 50-80 wars, teaching torture, assassinations and more! Look up LIE in the dictionary and read every single word, and then look up every single word that has been used in the BIBLE until your eyes are open!
Hey FRONTLINE, make a video comparing corporations and the wage to what most people still call “real southern slave plantations!”
Everything corporations do is devilish! Because corporations are SLAVE PLANTATIONS!
This is ALL CAPITALISM which is slavery! Fine print etc! Contracts, insurance, mortgages, everything is DEVILISH!
James 3:14-16 anything that is confusing is not from above, it is devilish!
👆👆👆 I got my credit card from this dude and it work perfectly for me this dude isn’t tripping he’s legit fr I’m so cool I deal with him 😁💯 y’all can get yours from him 💯 safe 💯
👆👆👆 I got my credit card from this dude and it work perfectly for me this dude isn’t tripping he’s legit fr I’m so cool I deal with him 😁💯 y’all can get yours from him 💯 safe 💯
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