Credit card pushers pump up profits - and risk.(includes related article on the US banking industry's efforts to increase the supply of credit cards and ... An article from: Dollars & Sense

This digital document is an article from Dollars & Sense, published by Economic Affairs Bureau on November 1, 1998. The length of the article is 3640 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The banking industry has significantly increased its efforts to push credit cards to unsuspecting Americans even to those who can barely afford them. An estimated 40% of poor families have credit cards in 1995 with balances of more than $1,300. Moreover, credit card debt has increased to 23.5% in Mar 1998 and most of these debts are owed by lower income people. Despite the high risks of bankruptcy of lower income cardholders, credit card companies still benefit significantly from the high interest rates imposed on late payments.

Citation Details
Title: Credit card pushers pump up profits - and risk.(includes related article on the US banking industry's efforts to increase the supply of credit cards and restrict consumer's access to bankruptcy protection)
Author: Abby Scher
Publication:Dollars & Sense (Newsletter)
Date: November 1, 1998
Publisher: Economic Affairs Bureau
Issue: 220 Page: 21

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