Intro by Top Documentary Films
Frontline & New York Times production, 56 mins., 2004
The average American family today carries 10 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.
This film examines how the credit card industry became so pervasive, so lucrative, and so powerful as correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt.