bman

They may not have visas, but they certainly can now have a Visa™

02/15/07

10:23:08 am, by bman

, 144 words, 85 views

Categories: Daily puffs of flatulence

They may not have visas, but they certainly can now have a Visa™

Wow! Powerhouse blood pressure boiling news today!

Yes, its true. Bank of America and several other lending institutions have begun issuing Visa credit cards to illegal aliens with $500.00 limits. You do not need a social security number, you do not need a permanent address. You simply need a bank account showing 3 months of history with no overdraws. How did they get a bank account anyway? I thought you needed a SS, or TIN and a permanent address... especially after 9/11. Who's going to bear the burden of their incurred debt? We are!

If I was a high profile attorney with tons of money I'd certainly put together a class action lawsuit claiming discrimination of credit comprised of all the hard working LEGAL Americans who've fallen on hard times in the past and are unable to obtain any credit whatsoever.

References:
Chicago Tribune
CNN
Fox News

Permalink 4 comments

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Comment from: Omi [Visitor]

Kind of an amusing statement of our economy if you ask me. The bank sees an opportunity at making some money, so is offering credit cards to illegals. Is it a law that credit card company can only offer a credit card to legal citizens? I highly doubt it. Its simply capitalism in action. Just like how a company doesn't have to base their operations here, they can move them overseas instead for cheap.

And getting credit is not a legal right for citizens. If a citizen has fucked up their credit to such a degree they can't get a credit card, then its too bad for them. Considering how easy it is to get a credit card with extremely bad credit, I don't even see how you can have a complaint on this one.

Permalink 02/15/07 @ 12:17

Comment from: Roulette [Member]

I don't know how they can do that really. I mean, how can they collect if it goes bad? Or even bill them without a perm address?

Are illegals often considered good credit risks?

Permalink 02/15/07 @ 16:11

Comment from: Omi [Visitor]

I'm sure their actuaries figured what it would take to be profitable. There are probably even statistics available already on what percentage of the illegal population will default or will pay up based on region, etc...and how many fees and interest it takes to make up for the defaulters.

Credit card companies a lot of times can't collect much even with legal citizens so its probably not much different for illegals. There must be money to be made wotherwise I'm sure they wouldn't pursue it.

Permalink 02/16/07 @ 11:10

Comment from: bman [Member]

Yea, but more importantly Im thinking that the bank's estimated audience of 28 million illegal aliens is more on par than what the governments numbers are ..which are about half of the bank's.

You know if there is money involved that the private industry is much more likely to have accurate numbers on those illegals than the government would ever want to admit to.

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They may not have visas, but they certainly can now have a Visa™

02/15/07

They may not have visas, but they certainly can now have a Visa™

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