The Sneaky Ways Retail Credit Cards Are Bankrupting American Shoppers
June 19, 2025
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8:02Now PlayingThe Sneaky Ways Retail Credit Cards Are Bankrupting American Shoppers
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as posted by the channelRetail credit card debt is accounting for a greater proportion of overall debt in consumer bankruptcies in recent years. A big reason is the record high interest rates banks, including Synchrony and Bread Financial, are imposing on clients after the Consumer Financial Protection Bureau tried to cap credit card late fees at $8, down from $32, in March 2024.
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Produced and Shot by: Gabrielle Fonrouge, Hugh Son
Senior Managing Producer: Tala Hadavi
Edited by: Evan Miller
Additional Footage: AP Newsroom, Getty Images
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The Sneaky Ways Retail Credit Cards Are Bankrupting American Shoppers
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