The credit card industry has extended $5 trillion in available credit.” So far, only $800 billion is currently owed. But, as more and more people look to credit cards as a way to coping in tough times, “easy credit” is becoming a thing of the past. What happens when an industry that extends “easy credit” in good times has to contract? Is anyone looking out for consumers?
The Credit Card Economy Comes Home to Roost
Credits
Guests:
- Kelli Grant - Senior Consumer Reporter, SmartMoney.com
- Robert Manning - Rochester Institute of Technology
- Gail Hillebrand - Manager, Consumers Union's Financial Services Advocacy Campaign
- Dan Ariely - Duke University