The Complexities of Credit Card Debt

This chapter explores the effects of the 2009 CARD Act on credit card holders and the persistent challenges in managing credit card debt. It examines the historical context of credit card interest rates, including pivotal legislative changes and Supreme Court decisions that have influenced the current landscape. The discussion also addresses the social status associated with premium credit cards and the implications of rising consumer debt on the economy, while highlighting recent legislative efforts to cap interest rates and the political obstacles they face.