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Frontline: Secret History of the Credit Card
March 18, 2008, 10:40 pm
Filed under: Money Basics

As I type, PBS is running a special on credit cards, “Frontline: Secret History of the Credit Card.” I found the corresponding website and thought I’d share. It looks like you can watch the special for free online.

The two most shocking tidbits I found:
-There is no limit on the amount a credit card company can charge a cardholder for being even an hour late with a payment.
-There is no federal limit on the interest rate a credit card company can charge.

I’ll be speaking more about credit cards when I post my third installment of The Money Book for the Young, Fabulous & Broke review. The PBS special also covers credit scores and reports as I’ve mentioned previously in my first installment of the Money Book for YF&B review.

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