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Eye on America (Credit Cards / Interest Rates) #700888

CBS Evening News for Thursday, May 09, 2002
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(Studio: Dan Rather) Report introduced.

(Middle Island, NY: Jim Axelrod) Reasons why people with good credit can find themselves paying sky-high interest rates on "low-rate" credit cards examined; statistics cited. [Mark LOPEZ - says he used several credit cards.] [Bankruptcy lawyer Charles JUNTIKA - says "loan sharks are more honest" than credit card companies; says the companies look for that first late payment.] [American Bankers Assn. James CHESSON - defends risk-based pricing.] [Borrower Ira BRICKMAN - says he had to pay high interest rates in spite of an excellent credit rating; asks why the credit companies made it harder to pay the bills.]

Reporter(s):
Axelrod, Jim;
Rather, Dan
Duration:
00:03:00

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