Frontline and the new york times examine how the credit card industry became so pervasive, so lucrative, and so politically powerful. With no legal limit on the amount of interest or fees that can be charged, credit cards have become the most profitable sector of the american banking. Probit estimation of credit card ownership in the united states from the 1983, 1992, 1995, 1998, and 2001 surveys of consumer finances has at least one credit card has a. The secret history of the credit card was a 2004 frontline presentation from the public broadcasting system. Also, teachers and students can watch the film streamed in its entirety on frontlines web site. Teachers guide the secret history of the credit card. In this onehour report, correspondent lowell bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt. There are five steps for gettingand stayingout of debt. The occ charters, regulates, and supervises over 2,500 national banks and their operating subsidiaries to ensure a safe, sound and competitive national banking system that supports the citizens, communities and economy of. In this onehour report, correspondent lowell bergman uncovers the techniques used by the industry to. Secret history of the credit card documentary heaven. The secret history of the credit card pbs frontline. Fp 101 week 3 credit history worksheet complete the credit history worksheet.
Secret history of the credit card and extend thinking beyond the episode. There is no special introductory rate on this card 5. Explore the history of the credit industry in america and evaluate the effects of that history on todays consumer credit industry. Submit your assignment to the assignment files tab. Choose from 500 different sets of cards history credit 3 flashcards on quizlet. Secret history of the credit card top documentary films. I thought this was going to be a history of how credit cards came about. Should i close the account on a credit card i no longer use.
A comprehensive examination exposing the many pitfalls for consumers in americas credit card economy. A credit card can seem like a passport to free money, but there are some details that young people should be aware of before they sign on the dotted line. Jun 12, 2006 the secret history of the credit card was a 2004 frontline presentation from the public broadcasting system. The average american family today carries eight credit cards. The above link leads to pbss frontline program that investigates the banking and credit card history. With no legal limit on the amount of interest or fees that can be charged, credit cards have become the most profitable sector of the american banking industry. The secret history of the credit card a credit card can be a useful tool in running a craft business, but too much credit card debt can lead to serious financial problems for your business and your family.
S government helps farmers purchase major electric appliances federal housing authority fha federal deposit insurance corporation fdic fha is. Credit history worksheet 1 credit history worksheet. Secret history of the credit card credit article of. This is a random worksheet that includes a persons credit card transactions for the month, and his or her monthly credit card statement. The history of credit america by mariah powell on prezi. Originally called the chargeit card, it was the first credit card that was actually issued by a bank.
It is the students task to answer the questions on identifying the parts of the credit card statement. The secret history of the credit card frontline documentary. Are the credit card companies conducting business in an ethical manner. Credit card concepts the secret history of the credit card. Literature includes written works of an imaginative, journalistic or scholarly nature. Making payments on time, staying at the same job for a period of time and establishing a relationship with a financial institution by having a savings or checking account and managing that account. Paying with a debit card also incurs an unavoidable additional payment. The next theory in terms of plausibility is that joe has a long history of standing in for the common. Credit card debt and personal bankruptcies are now at an all time high. Instead it was about how in the late 1970s and early 1980s that south dakota chancge its usery laws and new york banks took their credit card operations to south dakota to do business and provide some jobs. Credit card concepts the secret history of the credit. All answers must be in the form of complete sentences and must address all components of the questions in their entirety.
Although a majority of adults in the united states use credit cards on a regular basis, most do not know the terms of their agreement with the companies that issue their cards. Secret history of the credit card honored with emmy, national press club and columbia dupont awards. We never recommend closing a credit card for the sole purpose of raising your fico score. Nprs jennifer ludden talks with frontline reporter lowell bergman about the secret history of the credit card, a new documentary by pbs and the new york times. All answers must be in the form of complete sentences and must address all components. Language is a system of spoken and written symbols by means of which people can. Secret history of the credit card frontline worksheet. Credit history worksheet 1 credit history worksheet credit.
Apr 17, 2014 the very first credit card, so to speak, was invented in 1946 by a brooklyn banker named john biggins. Here is what the credit scoring agency fico says on the subject. The secret history of credit cards can be purchased from shop pbs for teachers. This is the one movie i make sure to show my students every year because of how powerful it is. With no legal limit on the amount of interest or fees that can be charged, credit cards have become the most profitable sector. Empowering students to make sound financial decisions for life.
New york city the modern day credit card came to existence in a restaurant where three men were having lunch they started the diners club card. Electric home and farm authority ehfa retail sales finance company ownedoperated by u. Elise parker tpt teaching resources teachers pay teachers. This video is available free online see link at the end of the description. Credit history worksheet directions identify the following factor descriptions to their corresponding c of credit. The plastic credit cards in your wallet trace their history back nearly 100 years, but perhaps the most important point on the timeline came in 1950. The purpose of usury laws was to regulate the maximum interest rates of loans. Give each card a job james pollard, from greenwood, delaware, is not only the proud owner of a dozen credit cards, but an advocate for making the most out of these accounts which means applying for and receiving as many as possible. Which type of credit do you think poses the greatest threat. Secret history of the credit card dvd av item,the average american family today carries 10 credit cards. Jan, 2008 the above link leads to pbss frontline program that investigates the banking and credit card history.
Comparison shopping for a credit card total points earned name kora nagle 35 total points date 5315 directions. In the film secret history of the credit card, describe what the difference was between a revolver and a deadbeat in the credit card industry. Other banks followed with other credit card plans, and the rest is history. The very first credit card, so to speak, was invented in 1946 by a brooklyn banker named john biggins. The companion web site to the frontline film offers tips for consumers, special reports, extended interviews with experts on the industry and further.
Identify which credit card you would choose and why. Credit card debt is an example of unsecured consumer debt, accessed through credit cards. Secret history of the credit card frontline worksheet provides questions for students to answer during the movie film in secret history of the credit card, frontline and the new york times join forces to investigate an. The industrys most profitable customers, the ones being. There were various other prototypelike credit cards before, but this was the first one to actually incorporate a bank into the mix. Students need to fill in the table with the missing values until the remaining balance equals zero. Nov 21, 2004 nprs jennifer ludden talks with frontline reporter lowell bergman about the secret history of the credit card, a new documentary by pbs and the new york times. Width in pixels px height in pixels px copied to your clipboard unable to copy.
Credit card debt and personal bankruptcies are now at an alltime high. A threelesson unit about credit cards introduces young economists to transaction. Apr 16, 2016 secret history of the credit card part 1. Secret history of the credit card frontline worksheet movie summary. I feel it is very important for any credit card consumers that they watch this report. This law was created to protect borrowers from excessively high interest rates.
Language is a system of spoken and written symbols by means of which people can communicate with each other. Former fbi negotiator chris voss at the australia real estate conference duration. Introduction to credit cards lesson plan worksheet math. According to the movie, what is the average credit card debt for a family. Secret history of the credit card 2004 cosmolearning.
The secret history of the credit card get rich slowly. Pbs has joined forces with the new york times to reveal, the secret history of credit cards. The history of credit explore the history of the credit industry in america and evaluate the effects of that history on todays consumer credit industry. Frontline the secret history of the credit card season. The secret history of credit cards teachers guide about the film. Help keep this subreddit alive by helping us find rulebreaking posts and comments. If you are concerned about your credit score, it might be best to keep the credit card account open. Learn cards history credit 3 with free interactive flashcards. The secret history of the credit card essay 616 words.
Answers is the place to go to get the answers you need and to ask the questions you want. The occ charters, regulates, and supervises over 2,500 national banks and their operating subsidiaries to ensure a safe, sound and competitive national banking system that supports the citizens, communities and economy of the united states. Credit history worksheet university of phoenix material credit history worksheet directions identify the following factor descriptions to their corresponding c of credit. Secret history of the credit card dvd,the average american family today carries 10 credit cards. The calculated strategies of banks to export consumer debt to states that have no limits on interest rates or usury laws were laid bare in this onehour documentary about the credit card industry. The average american family today carries 10 credit cards. The program examines the nations use of credit and, more specifically, the methods used by credit card companies to obtain enormous profits.
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