Credit Card Debt In America Essays -- Economics Analysis Debt Credit C

trust card debt is one of this nations leading internal worrys. When credit was first introduced, and up until around the former(a) 1970s, the standards for getting a credit card were very high. The bar got lowered and lowered to where, eventually, an 18 year-old college student with almost no income and nothing to base a credit score on previously could obtain a credit card (much like myself). The national credit card debt for families residing in the United States unaccompanied is in the trillions (Maxed Out). The average American family has around $9,000 in debt, and pays around $1,3000 a year on interest payments (Maxed Out). Many people have the concern right away that these interest rates and fees atomic number 18 skyrocketing and many an(prenominal) do not understand why. Most of these people have to try to avoid harassing collecting agents from different agencies, which takes an unrestrained and psychological toll on them. While a lot of the newly recognized ris ky people (those with a doubted ability to make sufficient payments) are actually older people who have been customers of certain companies for decades, the credit card companies are actually consciously targeting a different, much more vulnerable gathering of people college students. James Scurlock produced a documentary called Maxed Out on this growing problem, in which Senator Jack Reed of (Democrat) of Rhode Island emphasizes the targeting of college students in the Consumer Credit Hearings of 2005 James Scurlock strongly emphasizes this problem throughout the whole documentary. Students, ranging in ages from 18-22 primarily, are young, and naive. They are out from under their parents rule and free to make decisions on their own. This means that many are going to take certain steps necessar... ...edu/pqdweb?index=2&did=1202014091&SrchMode=1&sid=2&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1224101276&clientId=7968Kovak, Marc. Survey suggests credit card companies below the belt target college students. 31 March 2013. ProQuest. Mira Costa College Library, San Elijo. 15 Oct. 2014.&SrchMode=1&sid=2&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VNme=PQD&TS=1224101276&clientId=7968Maxed Out. Dir. James Scurlock. Perf. Victims of credit card debt. DVD. 2012.McGeehan, Patrick. Soaring Interest Compounds Credit Card Pain for Millions. TheNew York Times. 21 Nov. 2013. 15 Oct. 2014.Student Financial Management and Credit-Card Debt. Rutgers University Senate. 2012. 15 Oct. 2014.