Question: Movie: Secret History of the Credit Card
Answer the following questions based on the movie.
1. 90 million of Americans do not pay off their credit card bill in full every month, is this number startling to you? Or is this an acceptable number?
2. According to the movie, what is the average credit card debt for a family?
3. Are customers who make lower payments on their credit cards more profitable to the credit card companies? Why?
Accounting 101 Secret History of the Credit card Movie: NAME: DATE:
Answer the following questions based on the movie as provided in the discussion board.
i. According to the movie, what is the average credit card debt for a family?
ii. Are customers who make lower payments on their credit cards more profitable to the credit card companies Why?
iii. What is meant by the term 'Universal Default'? Were you aware of this practice? And will it change how you manage your credit card payments?
iv. Are the credit card companies conducting business in an ethical manner? Explain your answer.