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 • • 1 min readCredit 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?
The full episode
2 of 3
The Credit Card Economy Comes Home to Roost- 0:00Retailers Face Another Year of Weak Holiday Sales
- 7:47The Credit Card Economy Comes Home to RoostYou’re reading this
- 43:032.5 Million Pilgrims Descend on Mecca for the Hajj
The full episode
2 of 3The Credit Card Economy Comes Home to Roost- 0:00Retailers Face Another Year of Weak Holiday Sales
- 7:47The Credit Card Economy Comes Home to RoostYou’re reading this
- 43:032.5 Million Pilgrims Descend on Mecca for the Hajj