... andbankruptcy. The Evolution of Credit Card Markets Given the apparent connection between the expansion in credit card debt and the rise in bankruptcy filings, it’s useful to review how markets for credit ... majority of creditors con-sented. Asset exemptions appeared as early as the 1790s, when Virginia and othersouthern states adopted them to protect local landowners from their northerncreditors. ... cards, they would be told whether the purchase will trigger a penalty forexceeding the credit limit and how much interest they will pay if the purchase addsto their credit card debt.Finally,...