PBS Frontline Secret History of the Credit Card

[MelissaAnnTard]

It WOULD begin with a bunch of idiot meat eaters



[MelissaAnnTard]

and this is why I don't touch credit cards

[ASexyChef]

The real underlining issues are the banks are TOO LARGE, they along with many other huge companies control or government, Congress should have laws to protect people but they get allot of money for running and being elected. So when the interview ask them why do you not stop them, they do not stop them because the very banks are the people who write the Rules congress is known to pass bills basically written by these Banks. We need to demand in the next elections the break up huge banks

[ASexyChef]

The bankers are sick, you should never be able to alter the terms of an agreement, they keep trying to do more extreme things, and what people need to know, is people have the power, if you hear of a credit card doing something horrible and if enough people stop using that credit card, they would have to alter their ways of doing business. It was proven when one credit card tried to increase their debit card fees and people left the bank who started that, it forced the banks to retract that!

[ASexyChef]

Bank Industry in the USA today, have too much power, and too many are ruined by them. They have destroyed the world economy, they were bailed out by tax payers, and they do not even pay interests on those loans, but they will take everything from you, and it said to be legal.

[ASexyChef]

The rates that would get most people arrested for loan sharking, is legal. I do not have any dept, I always pay them off, I only use credit cards because of money back. But there is a sick form of credit, credit cards are sick, its part of the perversion of Banks today, they will charge what should be illegal, rates, to people who can't afford it, people need to demand more, if a credit card claims to charge only so much sometimes 5% it should be illegal to than increase it to 15 or more.

[ASexyChef]

Finally after huge protests and horrific things happened to the miners brave enough to fight the miners, many were beaten to the point of death, or crippled, and they got away with it for years and finally the US government stepped in, and it was viewed as a form of slavery. Creditcards today are the same, they can charge whatever they want, when they want it, and there are little to no real protections. If your a person who is in dept of your yearly income or more, its a form of slavery today

[ASexyChef]

There was an infamous Mine, who advertised, and did pay larger wages than the norm, but unknown to those who moved there, was the mine owned the local banks, grocery stores, all the buildings you could rent everything for miles was fully owned by the Mine. Along with that was also the law, was fully owned/controlled by the mines. They charges huge rates for rent, food, etc. So once you started to work for the mine, you would soon become indept and never be able to get out of debt.

[Wolfboy183]

omg im obsessed with the Frontline theme music

[Pauly69s]

I always pay ahead of time but this one instance I lost a bill and I knew a payment was going to be due so I made a payment by phone to Chase at about 12:30pm Central time and they told me I had to pay a late fee of $15 because it had to be made by 2:00pm Eastern time and it was now 2:30. I argued with them saying it does not state that on the bill so they finally removed the late fee but said paying late would remain on my history. Fucking crooks will get you anyway they can...

[TheLordMilton]

I am 60 years old and this programme has educated me . I can hardly beleive what I've just been taught, but I do and will now be running down my credit card loan. Thanks 'FRONTLINE'.

[myamericanpeople]

Isaac

[myamericanpeople]

Fair "Isac" sounds jewish

[myamericanpeople]

Kahr is a jew can u tell

[Wolfboy183]

lol "BJ's" credit card

[blognewb]

This should be part of the school curriculum.

[00Billy]

@blognewb

You know why it isn't... ;-)

[ShadowsofSmoke]

Wow!!! All this bickering in here.  Why? We all will be Dead.....in time. Love...Give....and Live.

[9ner]

anyone rooted into the credit card industry has this neurotic glaze in their eyes. Its a sad reason for living--basing your life on profits.

[thefinestkind]

what does this have to do with credit cards

[DADALINC]

GOD IS GOOD .

[thecrimedog]

KICK US WHILE WE ARE DOWN & OUT ! THANKS A LOT YOU BUNCH OF GREEDY ASSWIPES ! !

[Magenta408]

They are all out to cover their turf and their jobs. What bogus people these are - ie. the OCC!

[DADALINC]

DO YOU KNOW THE SECRET BEHIND THE CREDIT CARD YOU ARE HOLDING..HMMMMMM,THANK GOD I HAVE NEVER OWN A CREDIT CARD.....GOD IS GOOD

[thecrimedog]

@DADALINC so do you want a cookie? Dont be so sure of yourself, one day LIFE may hit you square in the face :P

[DADALINC]

@thecrimedog YOU SO WRONG..........I DONT WANT TO BE PART OF THAT BUSINESS..........THAT IS WHY I AM SAVING ALOT...I DONT NEED A CREDIT CARD AND THANK GOD I HAVED NEVER OWN ONE B4.......GOD IS GOOD.

[NoWitnessesNoRegrets]

@DADALINC God is a cunt. All the evil in the world is down to god, so don't arrogantly say god is good. All the evidence points towards god being pure evil.

[DADALINC]

@NoWitnessesNoRegrets MAY GOD FOR GIVE YOU FOR SAYING THAT.....GOD IS NOT EVEIL AND HE WILL NOT BE EVIL TILL THE END OF THE WORLD...........CREDIT CARD IS THE PLAN OF THE DEVIL.

[NoWitnessesNoRegrets]

@DADALINC You yourself just disproved the existence of god. The bible says god is benevolent, and you just said god will be evil one day. It doesn't add up.

Would you consider giving aids to babies evil? Because that is the kind of thing your god loves doing.

[DADALINC]

@NoWitnessesNoRegrets GOD IS GOOD

[NoWitnessesNoRegrets]

@DADALINC So you think giving aids to babies is a good thing. What kind of sick person are you?

[DADALINC]

@NoWitnessesNoRegrets ALMIGHTY GOD THE CREATOR OF BOTH HEAVEN AND EARTH WILL NOT DO SUCH A THING.....IT'S AN ACT OF A EVIL PERSON........GOD WILL NEVER GIVE AIDS TO KIDS.......WICKED AND EVIL ONE S DOSE THAT.......I THINK YOU ARE THE SICK PERSON..NOT ME....YOU NEED A DOCTOR.

[NoWitnessesNoRegrets]

@DADALINC So then your god is not in control. If people are getting aids without him knowing.

ALL CAPS RAGE ARRRGGGGG.

I've just realised you are black. How could you be part of a religion that has enslaved and tortured your African brothers for centuries. Try and realise these evil men still have a hold on your mind, they've brainwashed you into believing fairy tales.

You are a product of evil men and so is the bible.

[DADALINC]

@NoWitnessesNoRegrets TO YOUR INFORMATION REGION HAS NOTHING TO DO WITH RACE........TRUSTING IN GOD DONT MEAN YOU BELONG TO A RELIGION.....SORRY I AM NOT A MUSLIM OR CHRISTIAN...BUT I BELEIVE THERE'S GOD......TALKING ABOUT AIDS...........ONECE AGAIN GOD DONT AIDS TO PEOPLE ..........IT'S THE IDEA OF THE DEVIL...........AND I F I MAY ASK WHAT RELIGION ARE YOU.

[NoWitnessesNoRegrets]

@DADALINC Hide away from the awful truth.

God created the devil. The most evill thing ever done in the history of time.

[TheAccidentalMonk]

If you wish to live a wiser life, I suggest starting with ditching any & all credit cards & television sets you may own.

[piwanowi]

and unlike car loans or mortgages, you can't get back the assets that the credit card was used to purchase (hence its unsecuritized)

[piwanowi]

So wait, a family doesn't saving anything for a rainy day and when a rainy day does occur its the credit card company's fault!!! Most consumers are dumb, inexperienced with debt and when things go wrong they are quick to shift the blame onto someone else.

Just an FYI about the rates they charge. During tough economic times, credit card default rates can get as high as 16%! Imagine that you lent money to 6 people and only get it back from 5. you would charge high rates too!

[Marh044]

im in canada right now and pay 59 bucks a year and 28.8 interest

[welldonefromhereon]

This is absolutely insane!!!! 0_0

[funkyD4liberte]

Wow.. I'm so glad I don't have a credit card. And I don't think I'll ever want one!

[xadam2dudex]

criminals all ..South Dakota and Delaware should be boycotted till they repeal that usury law..it is criminal and anti-christian for centuries it's been a sin to lend at usury

[sha370z]

people house is on credit

[iamserge]

I like my credit card, especially when travelling, but i dont understand the CC/debt idea of Americans? I use my debit card for everything, even chewing gum. goes right off my account, gives my a realtime overview... no debts. yay!

[MrGabeFly]

Also, Elizabeth Warren for senate 2012!

[MrGabeFly]

Credit cards aren't inherently bad; if you pay it off every month, no problem, plus you can reap the reward pts, cash back and free air miles. I buy everything with my credit card then pay it off. Most credit cards also have fraud protection. If someone steals your debt then runs it up, many banks won't refund you.

However, if you're bad with money and aren't financially savvy, I suggest you skip the plastic until you learn to handle finances properly.

[organichik]

9,977 viewers and just two SHEOPLE!. That's great. We are waking up. YIPPEE!

[UseMyBank]

In the early 1980s, the States of South Dakota and Delaware changed their usury laws, allowing out-of-state banks to export their unprofitable credit card divisions.

Thus began an unprecedented era of debt, which is expanding to this day.

[irish89055]

56 minutes kewl... they need to let other full length segments on here. The personal credit crash will be the next shoe to drop...

[jebenn23]

I dont have credit cards anymore. I paid off the last $1,000 in the last month and cut them up. Now I've just got student loans and I'll never borrow money again unless its for a medical emergency.

[wuffer3107]

what worries me is how the credit market is in the US, when I think about how they are in Denmark, England and Ireland where Ive had credit cards, its insane

[pakraduni12]

I am glad I closed all my credit cards 2008 and now I feel debt free. I receive credit offers weekly and I trash them all.

[logoself]

I am glad I saw this. I am also glad I never got a credit card. But I have been considering it to increase my FICO score to increase my chances for a mortgage. I will seek another alternative to do that. I paid my rent one day late this last month. I have never been late before I was just incredibly busy. But one day late with a credit card seems like it can spell doom.

[IBMeddling]

I think it is wrong for a store to charge customers more for using cash rather than using their store credit card. It's bad customer service.

[hititandquit]

Elizabeth Warren is still fighting the good fight!

[Spytheweb]

I don't care what my FICO score is. I'am the guy that CC companies hate. I don't have any credit cards, the last time i used a CC was June 2001. I do use debit cards. I have learned to live on a budget. I'am buying a Sony HX100V camera next month, $450.00 and i'am paying cash, feels good.

[IceManLikeGervin]

Great information! Credit is the illusion of wealth.

[leafcat07]

It's a conspiracy with all wallstreet thugs and allowed buy the highest ranking government officials to allow this criminal activity to go on so long. And now Obama sets a new consumer law for credit card rules, but gives the credit card issuers months to legally jack up interest rates to an all time high.. even for customers who are never late on any payments ANYWHERE.... HOPE... CHANGE....let's get real America ! This is Organized Crime endorsed buy those elected to protect us......

[brent97555]

Frontline does it again. Amazing exposé. What shocked me most was the look in the eyes of EACH of the industry "professionals."  Look at their eyes. No soul. There's nothing in those eyes. May their respective churches and synagogues spank them and spank them hard. Naughty bankers & industry consultants.

[boumar19721972]

@brent97555 Churches and Religious institutions are blood suckers too!

[Tyskstalusmc]

@boumar19721972

NOT My Church, Its got plenty Money and ALL from Donations and its so Big We Havwe Embassies like a country Jesus-Christ started our Church We Call it the Roman Catholic Church and our efforts do more work for the poor and destitute than any other in the world.



[bddc201]

@Tyskstalusmc Horseshit! The Roman Catholic church promotes and causes poverty. And don't even get me started on the pedophile ring. The Pope should be arrested and tried for violating RICCO statutes and obstruction of justice. Religion is malignant, malicious and unworthy of respect.

[Tyskstalusmc]

@boumar19721972

NOT My Church, Its got plenty Money and ALL from Donations and its so Big We Havwe Embassies like a country Jesus-Christ started our Church We Call it the Roman Catholic Church and our efforts do more work for the poor and destitute than any other in the world.

[boumar19721972]

@Tyskstalusmc A better world is possible. The Venus Project. /watch?v=4Z9WVZddH9w

[flukes777]

@boumar19721972 As a church reverend, I am deeply offended by your remark.

Reverend Q. K. Fastcash.

[boumar19721972]

@flukes777 LOL! Turn the other cheek!

[jennie602]

Obviously things didn't change and looked what happened down the road, fascinating.

[TimothyStuartRiches]

This is a fascinating doc, well worth a watch.

[seks03]

the consumer panel they are interviewing are shockingly inept. It is scary to think that this is what passes for the average american today. "if I dont buy the ipod I wont be cool" ... wow

[villeneuves2]

this is 6 yrs old

[ifree0885654]

@villeneuves2 and the credit card companies have retconned their history? this is all good info, and the history is just as accurate now as it was when this originally aired.

[icannotfly]

@villeneuves2 still though, much of this is unchanged. everyone needs to see shows like this imo, just to learn a little more about the world they live in.