This is very detailed information, any bias aside. It is important for the average American to know.

While certainly not very nuanced, this piece does offer the reader good information about the credit card crisis in America. I fault it mostly for being unoriginal. Beside the connection between the sub-prime meltdown and consumer credit card debt, I did not read much in this piece that has not been reported elsewhere.

The story gathers and presents new information woven into a comprehensive presentation of both recent history and current situation of consumer debt. The idea that it could be a crisis similar to the subprime crisis, and additive to it, is startling. Well done.

The problems with the credit industry are well-documented. I could add mine. I was charged interest and penalties on a charge that was eventually dropped because it shouldn't have been there in the first place. The credit company only dropped the charge, but not the interest and penalties. It took about 6 months of letters, phone calls, and not using the card before they finally figured out that they'd get more money from me if they dropped the interest and penalties, and I started ... More »

An important topic but the story is not well-balanced. The statement "If credit cards are a trap, why don’t people abandon them entirely? Because, experts say, people must have their basic needs met, which credit cards make possible." made me wonder and think that something was not right with the overall aim and intention of the story. The term "economic shock" used by the expert who forwards the necessities viewpoint is never fully explained. What does he mean by "economic shock"? ... More »