Perpetual debt, predatory plastic: From the company store to the world of late fees and overlimit penalties
Abstract
Last year John, a 55-year-old African American living on public assistance in Takoma Park, Maryland, a Washington, D.C., suburb, received an invitation in the mail promising him a chance to join millions of other Americans who enjoy the convenience and status of credit-card membership. In its direct mail solicitation, United Credit National Bank Visa declared, "ACE VISA GUARANTEED ISSUE or we'll send you $100.00! (See inside for details.)" For the unsuspecting, it might have sounded like a terrific opportunity to enter the credit mainstream. But a closer look inside showed that the primary beneficiary was the credit card company.
Publication Date
2003
Document Type
Article
Department, Program, or Center
Accounting (SCB)
Recommended Citation
Manning, Robert, "Perpetual debt, predatory plastic: From the company store to the world of late fees and overlimit penalties" (2003). Southern Exposure, Fall 2003 (),Accessed from
https://repository.rit.edu/article/408
Campus
RIT – Main Campus
Comments
Note: imported from RIT’s Digital Media Library running on DSpace to RIT Scholar Works in February 2014.