Secret History of the Credit Card

Feb 25, 2024 | Economics, Videos

The average American family today carries an astonishing 10 credit cards, and the consequences of this are dire. Credit card debt and personal bankruptcies have reached all-time highs due to the fact that there is no legal limit on the amount of interest or fees that can be charged. Credit cards have become one of the most profitable sectors for banks, yet millions of Americans struggle to pay off their debts, sometimes at an insurmountable rate.

It’s clear that something needs to change in order to protect consumers from taking on more than they can manage. In comes a new documentary that takes an in-depth look into this issue – ‘Credit Card Nation’. This powerful film presents compelling evidence and interviews with financial experts to examine how we got here and what can be done in terms of policy-making and financial literacy reform.

By watching this documentary, viewers can gain a better understanding of how our country has gotten to where it is today with respect to credit card debt and personal bankruptcies. We also see the underlying issues at play when it comes to financial literacy – especially considering that only about 34% of Americans understand the basics of personal finance according to a study conducted by FINRA Investor Education Foundation.

This documentary shines a light on these issues and encourages viewers to become informed on how they can make better decisions with their money. It’s time for us to take control of our own financial destinies by arming ourselves with knowledge instead of relying on exploitative institutions like banks and credit card companies. So if you’re ready for real change, watch ‘Credit Card Nation’ now!

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David B