No question about it, Americans have an overconsumption problem. The total outstanding balance of bank-issued credit cards per consumer was $5,710 in December 2008, according to Transunion. Americans like to buy new things and throw out the old ones. They also like to own lots of stuff they don’t need.
Retailers profit from this, but so do money lenders. And many of these excessive retail purchases end up on credit cards. Discover has taken a step toward sustainability by introducing a new card made of biodegradable plastic, which it says is the first. But how green can a credit card really be if serves to encourage consumption?
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