Ordinary families in the United States now wear 10 credit cards. Credit card debt and personal bankruptcy have been high.
If there is no legal limit on interest or costs, credit cards have become the most favorable sector in the American banking industry: only more than 30 billion US dollars last year.
This film studies how the credit card industry is as favorable and powerful as the reporter ’s Lowell Bergman. The industry is used to achieve a record of creating records and attracts consumers to collect more debts.
Credit card debt is an example of unsecured consumer debt across credit cards. When a credit card company purchases an article or service through the card system, completeness will generate integrity. If consumers do not pay for him or her money, the debt collection will collect and increase through interest and punishment.
As a result of these debts, the company calculated a delayed payment fine ($ 10 to 40 in the United States) and reported to the credit rating agency to delay payment. Payment is sometimes called “standard”. The delayed payment itself increases the debt of consumers.
If consumers are too late, other creditors, including consumer creditors, may not pay too late, please increase the interest rate of consumers’ payment. This approach is called general standards.
