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Flashback Hey! Should We Blame This Guy?
April 21, 2009
“Most bankers required customers pay 5 percent of card balance every month. Kahr realized if customers could pay less, they'd borrow more.”
The economic crisis rolls on -- as does the blame game.
So here's a clip about Andrew Kahr. He's known in the credit card business as a brilliant financial innovator. Years back, he invented some darn clever strategies encouraging us to take on more and more credit card debt.
But here's the rub: Aren't Kahr's tactics simply exploiting human nature and our own foibles?
Where do you stand on the issue of taking personal responsibility on finances -- in both good times and bad?
These links and video are from our ever-popular report, Secret History of the Credit Card. Watch it online now.