To the Point

The Credit Card Economy Comes Home to Roost

Credit card companies offered high limits and low interest rates to millions of US consumers. Then came the Great Recession. When we first broadcast this program in March, companies were reducing credit lines, jacking up rates and closing accounts — and they're still at it.

By Warren Olney • May 12, 2014 • 1 min read

Credit card companies offered high limits and low interest rates to millions of US consumers. Then came the Great Recession. When we first broadcast this program in March, companies were reducing credit lines, jacking up rates and closing accounts — and they're still at it. Credit card reform was passed and signed into law, but Congress gave the industry nine months to end most of the outlawed practices. So what you hear today will be valid through this year's Christmas season. We can still ask, who's looking out for consumers?

Warren Olney
former KCRW broadcaster
Karen Radziner
Managing Producer, To the Point & Which Way LA?
Kelli Grant
Senior Consumer Reporter, SmartMoney.com
Robert Manning
Rochester Institute of Technology
Gail Hillebrand
Manager, Consumers Union's Financial Services Advocacy Campaign

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To the Point

The Credit Card Economy Comes Home to Roost

Credit card companies offered high limits and low interest rates to millions of US consumers. Then came the Great Recession. When we first broadcast this program in March, companies were reducing credit lines, jacking up rates and closing accounts — and they're still at it.

Share

To the Point

The Credit Card Economy Comes Home to Roost

Credit card companies offered high limits and low interest rates to millions of US consumers. Then came the Great Recession. When we first broadcast this program in March, companies were reducing credit lines, jacking up rates and closing accounts — and they're still at it.

Share