How did the credit card industry came about and how did it become such a big business in America?
What was the tilting point in its growth explosion and how was it determined how much the minimum payment should be?
In collaboration with the New York Times, PBS’s FRONTLINE documentary Secret history of the credit card does an astonishing job at investigating the credit card industry, and exposing their secrets.
“The almost magical convenience of plastic money is critical to our famously compulsive consumer economy,” Bergman says. “With more than 641 million credit cards in circulation and accounting for an estimated $1.5 trillion of consumer spending, the U.S. economy has clearly gone plastic.”
Useful for anyone working in the financial world, or in any business, or anyone interested in credit cards and how things work, you can watch the full program online at PBS.org in its entirety with useful notes and explanation, a must watch.