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Credit Card Marketing Blamed for Consumer Debt Rise
The Consumer Federation of America says aggressive credit card marketing leaves millions with high debt during the holiday season. It cites banks like Mellon Hurley State Wells Fargo First Union and Advanta as least responsible, while MBNA Peoples Travelers and First USA are named for lower charge-off rates. The group urges disciplined card use and debt reduction with consumer counseling resources.
MENTIONED IN THIS ARTICLE
Washington
Consumer Federation of America
Stephen Brobeck
Consumer Federation
Mellon
Hurley State
Wells Fargo
First Union
Advanta
Tish Signet
Stephen Dishart
American Bankers Association
Bankers’ Group
Kim Kellogg
Visa USA Inc
MBNA
Peoples
Travelers
First USA
Brobeck