Quick wins for a faster PC:
Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →The Secret History of the Credit Card is a FRONTLINE documentary about how the U.S. credit-card industry grew, made money, and affected consumers. Aired on November 23, 2004, it examines the period’s changes in banking, technology, and regulation, along with interest charges, fees, and household debt. Its claims describe the industry and laws discussed in the film, not current consumer-finance conditions.
What is The Secret History of the Credit Card about?
The documentary investigates how credit cards became widely used and profitable in the United States. It looks at the role of banking changes and technology in expanding access to card lending, and at how interest charges and fees could affect people who carried balances or fell behind on payments.
The film also considers the political influence of the industry. PBS describes its subject as how the credit-card industry became “so pervasive, so lucrative, and so politically powerful.” The program includes consumer accounts as well as industry voices, so interviewees’ explanations and opinions should be understood in that context.
How did credit cards become so profitable?
The documentary connects the expansion of credit-card lending to changes in the legal environment, the spread of nationwide banking, and technology that enabled lenders to track financial information more quickly. It examines how interest and penalty fees contributed to lender revenue, while also considering the risks and costs faced by consumers.
PC Slower Than It Used to Be?
A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Crashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minute#1 Best Overall
PBS’s 2004 documentary page cited more than $30 billion in credit-card industry profits in the preceding year. That is a historical figure presented in the program’s contemporary context, not a current estimate.
What does the film say about fees?
In the transcript, correspondent Lowell Bergman asks whether fees intended to encourage on-time payment had also become a source of profit. Robert B. McKinley, identified in the program as the founder of a payment-card industry research firm, replies, “Well, they really have become a profit stream.” These are statements from a 2004 interview, not findings about every issuer or current fee practices.
Film details
| Detail | Information |
|---|---|
| Program | The Secret History of the Credit Card |
| Series | FRONTLINE |
| Aired | November 23, 2004 |
| Correspondent | Lowell Bergman |
| Producers | David Rummel and Nelli Kheyfets |
| Writers | Lowell Bergman and David Rummel |
| Director | David Rummel |
FAQ
When did The Secret History of the Credit Card air?
The FRONTLINE documentary aired on November 23, 2004.
Is the documentary a guide to credit-card rules today?
No. It reports on the U.S. credit-card industry and regulatory environment of its time. It should not be used as current financial or legal guidance.
Rank #3
- Sharpen your test-taking skills with 5 full-length practice tests--2 in the book and 3 more online
- Use AP European History Flashcards to strengthen your knowledge with in-depth review covering all units on the AP European History exam
- Customize your review using the enclosed sorting ring to arrange the cards in an order that best suits your study needs
- Learn from Barron’s--all content is written and reviewed by AP experts
Where can I read the documentary transcript?
PBS FRONTLINE provides the program transcript and a documentary page.
Quick Recap
Best Value
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
