I found the movie, Maxed Out, to be very informative. I learned a lot of things from watching it. The first thing that really captured my attention was credit card companies and how college students are a main target for them. I found that part of the movie very important. The second fact that caught my eye was that a person can buy another’s debt. I thought that was interesting but not a very smart thing to do. The third thing that piqued my interest was about the company Providian.
As I mentioned in the first paragraph, college students are a main target for credit card companies. Me being a freshman in college, I found this enlightening and important. Being raised in the business world, I realize that every company has a role to play in the society and has to make money in some way to survive. However, I do not agree with the way the credit card companies run things. I find it wrong that vendors are required to pay the consumer’s fee for using their card. This takes money out of a vendor’s pocket, and that isn’t right. I know that it’s not just the companies’ fault that college students, or anyone for that matter, are digging themselves a deep hole of debt that they can’t pay back. A main cause of this is that people aren’t fully aware of what they apply for, and they should be. People don’t comprehend that when sellers are broadcasting …show more content…
According to the website, http://www.girardgibbs.com/providian-financial-class-action-lawsuit/, the company was fined for cheating its customers. Providian was in a lawsuit alleging that the company had engaged in fraudulent business practices in violation of the Truth in Lending Act. In 2001, the court settled to a 105-million-dollar cash settlement. I feel that the company got what they deserved. It’s sickening to think that because of them, hundreds and thousands of peoples’ lives were affected by this. Their customers put their trust and faith into this company and they got
As I mentioned in the first paragraph, college students are a main target for credit card companies. Me being a freshman in college, I found this enlightening and important. Being raised in the business world, I realize that every company has a role to play in the society and has to make money in some way to survive. However, I do not agree with the way the credit card companies run things. I find it wrong that vendors are required to pay the consumer’s fee for using their card. This takes money out of a vendor’s pocket, and that isn’t right. I know that it’s not just the companies’ fault that college students, or anyone for that matter, are digging themselves a deep hole of debt that they can’t pay back. A main cause of this is that people aren’t fully aware of what they apply for, and they should be. People don’t comprehend that when sellers are broadcasting …show more content…
According to the website, http://www.girardgibbs.com/providian-financial-class-action-lawsuit/, the company was fined for cheating its customers. Providian was in a lawsuit alleging that the company had engaged in fraudulent business practices in violation of the Truth in Lending Act. In 2001, the court settled to a 105-million-dollar cash settlement. I feel that the company got what they deserved. It’s sickening to think that because of them, hundreds and thousands of peoples’ lives were affected by this. Their customers put their trust and faith into this company and they got