Wondered why do we ever need credit card? To your surprise, you actually need to have a credit card these days. But you do NOT need credit card debt. As Suze Orman explains.

Suze explains how student loan crisis is looming as the next big thing. She says the real estate implosion and banking crisis including the credit crunch have not yet been dealt with well. She implores Congress to head this one off at the pass as our young people are being saddled with compounding interest at such a rate that very quickly the loans become insurmountable. The show took place on 1/24/09.