You Are The Guest Show 67 - A Million Dollars in Credit Card Debt

Author Harrine Freeman from Washington D.C. is our guest to talk about an important holiday topic, the credit card business. Harrine and I discuss why the credit card companies target undergraduate students and individuals who will most likely not pay their bills on time. We talk about the root and the size of the problem in the U.S. and I dig into how credit card companies market and prey upon those individuals that are most vulnerable to interest fees and late charges, and you'll hear a credit horror story of how someone became $1,000,000 in debt. We also discuss why the educational system in this country isn't doing enough to teach young people how to manage their finances, and what pitfalls some consumers fall into during the holiday season.