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Resource ID: #21781
Source:Frontline/New York Times Television
Frontline/New York Times Television looks into how the credit card industry manages to increase their profits while average Americans increase their debts. The investigation reveals "tricks of the trade" which increase profits and hit consumers with late fees and penalties. The biggest "trick" of them all is universal default where, after monitoring the customer's financial activity, the companies raise that person's interest rate, based on whether or not they think the customer has become risky.