Last night I caught part of the Frontline broadcast on credit cards. While some companies clearly step over the line, the whole thrust of the program was that the government should regulate the industry more tightly. I found Lowell Bergman particularly irritating, having himself filmed while frowning and cocking his head portentously to underline his message.
I may have missed it, but nowhere did I see the program advise people to pay off their balances each month whenever possible (until the companies charge for it--then switch to a debit card). Obviously there are emergencies where there is no other option, but why should so many consumers be so foolish as to insist on buying something immediately, even when they don't need it? Then they end up paying the banks all the interest.
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