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The credit card would represent a foray into new businesses for both companies. With a card, Apple may be able to take a larger cut from purchases than it does now through Apple Pay.

One in 10 working Americans between the ages of 35 and 44 is getting his or her pay docked for not paying debts. And in most states, the law allows a quarter of wages to be withheld.

Before the Great Recession, many Americans piled up too much credit card debt. Now, they seem to be a little wiser about using plastic, says the head of the Consumer Financial Protection Bureau.

At a town hall meeting in New Mexico Thursday, President Obama touted legislation designed to protect consumers from fluctuating credit card rules. He also urged Congress to act quickly on legislation to end credit card practices deemed abusive.

Americans paid an estimated $1 billion in interest on medical debt in just three years, a federal agency finds. This includes use of credit cards often pitched in doctors' and dentists' offices.

Credit card debt is at a record high, climbing nearly 19% in the fourth quarter of 2022. Many Americans have exhausted their savings and are now deep in the hole trying to cover the cost of living.

Credit card perks are being subsidized by people who have less, argues Chenzi Xu, a finance professor at the Stanford Graduate School of Business.

Harvard Law Professor Elizabeth Warren is an expert on bankruptcy and is an outspoken critic of consumer lenders. Warren is also the author of The Two-Income Trap: Why Middle Class Mothers and Fathers Are Going Broke.

Host Jennifer Ludden looks at how the credit card industry markets to teenagers. Legally, banks may not issue credit cards to minors, but solicitations for cards often go out to kids under 18. It seems the card issuers are counting on parents to bail their kids out when they overcharge.

Credit card companies are targeting children as young as 13 with products that allow them to pay with plastic instead of cash. Parents can monitor their children's spending habits, but there are potential pitfalls if users aren't careful.