Last night I saw a wonderful documentary about Credit Cards and their history on PBS. It was very interesting, not only because I am in this industry either. I definitely reccomend that you take some time and watch this. This is one of the most wonderful times of the year for the banking industry’s most lucrative business: credit cards. In the coming weeks, millions of Americans will reach into their wallets and use plastic to buy an estimated $100 billion in holiday gifts.

In the documentary “Secret History of the Credit Card,” FRONTLINE® and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt.

So I hope you all take some time to try and watch this. You will see credit card companies in a completely different light.

This entry was posted on Friday, December 1st, 2006 at 9:38 am and is filed under Chase, Discover, American Express, Mastercard, Visa, Balance Transfers, financial advice, capital one, Citibank. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.