Bank Of America Extends Credit To Illegal Immigrants

[Bronco_Beerslug]

Nice! No SS# or real documentation required.

-----------------------------------------------------
Bank of America is now offering credit cards to customers without
Social Security numbers, reported 10News.

It's an effort to extend credit to illegal immigrants.

In recent years, banks across the country have been offering checking accounts and even mortgages to illegal immigrants, but not major credit cards.

The new Bank of America card is open to people who lack both a Social Security number and a credit history, as long as they have held a checking account with the bank for three months without an overdraft, reported 10News.

The program is now available at 51 Bank of America branches in Los Angeles County.
http://tinyurl.com/33sdh8

[BroncoBen]

Nice... and when they can't collect for whatever reason, they will pass those costs on to the rest of us.

[ludo21]

WTH!?!?!?

lets just make it even easier for the illegals!

man this is dumb

[sirhcyennek81]

Already provide nearly free college education, why not extend them credit lines, and when they default on a payment, skip back to Mexico. Great plan Bank of America.


:Broncos:

[DenverBroncosJM]

I called them to ask them just WTF they are thinking. I have my banking/savings, credit cards and mortgage with them. The banking and savings/credit cards I can change. My rate is to good to change on the mortgage though.

The kid I spoke with had some idea of it but he just gave the normal stuff we are happy you are a customer etc etc.

Gonna call Wells Fargo etc. and check around tomorrow. There is NO WAY I am staying at BofA.

[Kaylore]

I don't support illegal immigration, but I don't really see what the problem with this is. They will be keeping money in our banks which will help our economy.

[ak1971]

[QUOTE=. There is NO WAY I am staying at BofA.[/QUOTE]

I got news for you..the way BofA is buying everyone you might have no choice.

[Spider]

not entirely true ...... you got to have a form I dont remember the # of the form , but you have to have it , but Past credit history is not a concern .......what should piss you off is , you did things right , worked , saved , made all of your payments to keep credit , and these illegals get it without all that sacrifice and hard work ............

[DenverBroncosJM]

So the question I asked the guy on the phone was what happens when they default? If I default I KNOW its going on my credit report and it will follow me for a couple years. That is tracked by my social not my name.

How many Kaylore's are in the world? So who do they pin point which is which? and who's rates ultimitly go up from these defaults?

If you dont support Illegal Immigration ..why would you not having a problem with them getting preferently treatment? When was the last time you got a credit card with just your name?

[Master___Pain]

They will be keeping money in our banks which will help our economy.

Huh? How does this keep money in our bank...it's credit not money. This is an atrocious idea on the part of B of A

[orinjkrush]

I have no problem with it as long as they share the data with the NSA.

[ak1971]

The loans in question are TIN (taxpayer identification number) loans. A number of mortgage companies provide them. If a loan company or bank thinks they can make money on it they will provide it. Its the same thing as providing everything in Spanish. These types of loans have been having poor execution on the seconardy markets, so when money begins to be lost, they will go away. Im assuming this is the same sort of product.

[DenverBroncosJM]

Umm its a credit card. Not a loan.

[ak1971]

Umm its a credit card. Not a loan.

Um last time I checked Credit Cards are loans.

[Kaylore]

Huh? How does this keep money in our bank...it's credit not money. This is an atrocious idea on the part of B of A

Do you have any idea how banks make money?

[Master___Pain]

Um last time I checked Credit Cards are loans.

Don't most loans require some form of collateral? CCs do not.

[Spider]

Don't most loans require some form of collateral? CCs do not.

Depends on the amount and Credit history of person applying .............

[Kaylore]

Don't most loans require some form of collateral? CCs do not.

In the first paragraph you will read that they will require them to have kept a positive balance in their accounts for a few months before they are eligible. They also usually check your pay stubs.

[DenverBroncosJM]

So if you are illegal how do you get a taxpayer identification number if you are not supposed to be employed?

[Master___Pain]

Do you have any idea how banks make money?

Yes. Thanks for asking.

[Bronco_Beerslug]

So for the Americans, you have to provide a SS# along with the other required info, for the criminals here in this country illegally, no SS# or other required info needed. My credit card is through Chase so thankfully I'm not doing business with this company.

[ak1971]

Don't most loans require some form of collateral? CCs do not.

The way they are treated on the back end are somewhat similar.

[Master___Pain]

In the first paragraph you will read that they will require them to have kept a positive balance in their accounts for a few months before they are eligible. They also usually check your pay stubs.

I understand that is a means of qualifying for the CC but I did not read that to mean that the checking account was collateral. Maybe I'm reading it wrong.

The new Bank of America card is open to people who lack both a Social Security number and a credit history, as long as they have held a checking account with the bank for three months without an overdraft, reported 10News.


What am I missing here? Thanks for the helping hand.

[ak1971]

So for the Americans, you have to provide a SS# along with the other required info, for the criminals here in this country illegally, no SS# or other required info needed. My credit card is through Chase so thankfully I'm not doing business with this company.

Until BofA buys Chase LOL....

[DenverBroncosJM]

The way they are treated on the back end are somewhat similar.


Back end of what?

I have one large credit card. If I tried to get a signature loan for that amount they would laugh at me.

[ak1971]

Back end of what?

I have one large credit card. If I tried to get a signature loan for that amount they would laugh at me.

look up ABS
http://en.wikipedia.org/wiki/Asset-backed_security

[Spider]

look up ABS
http://en.wikipedia.org/wiki/Asset-backed_security

Anti lock Breaking system ?

[DenverBroncosJM]

Ok found this I assume this isnt what you are talking about:


ABS Global:He is now the number one semen production bull of all time at ABS. ... Headquartered in DeForest, Wisconsin, ABS Global is the world-leading provider of ...
www.absglobal.com/ - 11k - Cached - Similar pages
:~ohyah!:

[Bronco_Beerslug]

Until BofA buys Chase LOL....
Yeah, so far anyway. I have a feeling BOA is looking at some backlash for going public with this.

[ak1971]

Anti lock Breaking system ?

or for you truck paint and spelling. :wave:

[Spider]

we used to use 1 st interstate bank Visas , we switched to Com Data cards , it cost 7.95 every time we use it , but the money no matter the amount is always there ..........

[Spider]

or for you truck paint and spelling. :wave:

I am the Best spellar in all the land ;D

[Mtbrncofn]

Nice... and when they can't collect for whatever reason, they will pass those costs on to the rest of us.

I've been seeing this all morning on the news, and this was my thought too. This is an unfailingly stupid move by BOA.

I hope they do get a lot of backlash over this, they deserve it.

[Master___Pain]

I've been seeing this all morning on the news, and this was my thought too. This is an unfailingly stupid move by BOA.

I hope they do get a lot of backlash over this, they deserve it.

This is essentially why, with the little info I've seen so far on this decision, BoA is making a colossal mistake with this program.

[ludo21]

In the first paragraph you will read that they will require them to have kept a positive balance in their accounts for a few months before they are eligible. They also usually check your pay stubs.


most illegals dont get "pay stubs"

This idea sucks, in the end im betting its going to raise everyone else's rates.

[Spider]

I am changing my name to Emanual ellaborer ........... I shall get 400K in Credit , I will buy all the white women ;D

[RMT]

There's a way this will be exploited - I GUARANTEE it!

Illegals in my community move from rental to rental because they skip payments. They pay their deposit, stay 2 months and either get evicted or move without notice ... buy 1 month, get 1 free - they do it a LOT!

With the B of A deal, there will be those who don't have an overdraft for 3 months, max the credit card, write a bunch of hot checks in the 4th month and skip town ... you heard it here first ...

I will be closing my B of A account shortly - B of A can pass its losses onto its customers; I won't be one of them.

[spdirty]

There's a way this will be exploited - I GUARANTEE it!

Illegals in my community move from rental to rental because they skip payments. They pay their deposit, stay 2 months and either get evicted or move without notice ... buy 1 month, get 1 free - they do it a LOT!

With the B of A deal, there will be those who don't have an overdraft for 3 months, max the credit card, write a bunch of hot checks in the 4th month and skip town ... you heard it here first ...

I will be closing my B of A account shortly - B of A can pass its losses onto its customers; I won't be one of them.

good. hopefully there is a huge boycott of this company. kinda wish I was a BoA customer just so I could cancel em.

[ak1971]

good. hopefully there is a huge boycott of this company. kinda wish I was a BoA customer just so I could cancel em.

good luck with that. What I was trying to explain is that all of this essentially ends up in the same place, doesnt matter who issues the paper/cards. These types of programs have been around for some time now.

If the street could make money on it they would issue cards to death row inmates at San Quinten.

[BABronco]

http://www.bcca.org/bahaivision/docs/imgTOMB.jpg

Might as well give em the keys to the place.

[cutthemdown]

There's a way this will be exploited - I GUARANTEE it!

Illegals in my community move from rental to rental because they skip payments. They pay their deposit, stay 2 months and either get evicted or move without notice ... buy 1 month, get 1 free - they do it a LOT!

With the B of A deal, there will be those who don't have an overdraft for 3 months, max the credit card, write a bunch of hot checks in the 4th month and skip town ... you heard it here first ...

I will be closing my B of A account shortly - B of A can pass its losses onto its customers; I won't be one of them.

Nice!!!!!

[defenseman]

this is very, very bad.....dman