Name: Jessica
Comments: Majority of people don't really intend to max out their credit cards. However,you would be surprised how easy it is to do so.In fact, somebody from Ireland actually killed himself because of his huge credit card debt.
Well, then don't have it. If people have no self-control whatsoever then they should get a debit card instead of a credit card but they're not willing to do so, "things" they want to get no matter what always get in their way. And they pay for it!
International Level: International Guru / Political Participation: 1089 100%
"The Card Game" - New Doc Investigates History of Credit Card Industry and Proposals for Reform
We take a look at how the consumer loan industry continues to squeeze customers. Last year the Federal Reserve Board announced new rules for banks to remove unfair credit card practices, and in May of this year Congress passed the Credit Card Accountability, Responsibility and Disclosure Act of 2009. In a joint FRONTLINE/New York Times investigation, "The Card Game," longtime investigative journalist and Frontline correspondent Lowell Bergman talked to industry insiders, lobbyists, politicians and consumer advocates about how to reform the way the consumer loan industry has done business for decades. Ref. Source 8
Credit card debt drops to lowest level in 8 years:
Average debt on bank-issued credit cards fell 13.4 percent to $4,951 between April and June, down from $5,719 during the same period a year ago, according to TransUnion, a credit reporting agency. Ref. Source 4