why are immigrants allowed credit cards??

Question

so i was watching the news last night and they were explaining that bank of america is allowing immigrants to have a credit card as long as they have a bank account and no overdraft fees for 3months! now i know this may offend some of you but it upsets me because i have been here all my life and anytime i want a credit card i need to use my social security number and because their immigrants they don't have to! i understand they may want a better life for their family but it is unfair to those that have been citizens from they day they were born and can't apply for credit cards or loans without using a social security number! we have citizens that are legal and struggle to provide for their family yet immigrants can come here and apply for credit cards and new fancy cars and new homes. i mean they can have a very lavish lifestyle without having to use a social security number. i know all of you won't agree with me but i need help understanding why thats fair?

some of the people who answered me said" keep up with your payments" lol i have a credit card but to get my credit card i had to to it the LEGAL way! if some of you feel like this is not ILLEGAL than why can't a citizen have a bank account for three months then be eligible for a credit card? also without having to use a social security number. i mean if they don't have to use one why does citizen? seems like citizens are being punished.

Answer 1

excuse me but i think u should direct your anger to the bank which doesn't allow u to have a credit card if that is the case . they are doing it for a reason , they are doing it because they know how important economically the immigrants are for the USA and for the American business it does make sense ...

America does rely in strong business and yes they are doing it for the money , money which the immigrants spend every day in many American business and which is about to reach a trillion dollars . think about all the jobs that money produces and how much the anti-immigrants say they take from the USA , there is a huge difference in favor of they give to the USA .

and by the way what u are describing is what has happen all the time ( the way u are treated ) so i do not understand how is it that it becomes a punishment once they offer an opportunity to someone else . the immigrants do contribute billions of dollars to the economy and that gives u a better life . 8u should also not forget the rest of the world and that they do have an impact in your life . i wonder how would we able to sell the USA products to other countries if we have to pay a lot more to everyone and our prices were too expensive for the rest of the world to make business with us ...

Answer 2

It wasn't clear to me if your question pertained to immigrants in general, or ILLEGAL immigrants. There really has to be a distinction.

The ID number issued by the INS functions in a similar way as a real SSN, and is necessary for LEGAL immigrants to obtain LEGAL work. Are you saying that a person from another country who emigrates here legally and legally obtains employment should not be allowed to also legally obtain a bank account or credit card? There's no red carpet thrown out for them - they start building credit much the same way other red blooded americans do - tiny credit limit, high interest rates, until they prove they are creditworthy.

You sound like a bigot to me. I guess you have no foreign heritage? Land of opportunity and all that? I don't understand this assumption that all non-citizens with a US credit card are here to exploit and defraud the bank, and then flee the country. If it's any consolation, you can go to many European countries and open a bank account as a non-citizen. But you won't hear them spewing this sort of bigoted garbage in YOUR face. I'm really thinking the fancy cars and new homes have something to do with non-US saving habits, higher education, and more worldly tolerance than you appear to have.

Answer 3

A creditor's knowledge of a debtor's social security number provides them with the security of knowing that the debtor's credit will be ruined if the debtor doesn't repay the debt. This gives the creditor some confidence in the debtor because the average citizen doesn't want bad credit. The creditor has further confidence by being able to monitor the debtor's credit in the future.

A person without a social security number is a higher risk to the creditor because the creditor doesn't know anything about the person and won't be able to threaten the person. This higher risk means the person will pay a higher interest rate.

Bank of America has analyzed the situation and, as experts in the field, has decided to extend credit to these people. This is an agreement between Bank of America and the individuals. Nobody, including concerned citizens and/or the government, has any right to interfere.

Answer 4

Yes I agree with you and I am with you...They only need a TIN # that is provide from IRS...So the Gov and Banks like BofA is discriminating the US citizen how about that? It seems very unfair yes...Why not boycot Bank of America the? As a US citizen we have the power to correct that, I mean to say to do something about it. Like the ones that have an account with that Bank go and close it with them and look for an a Bank that don't do that...What do you think?
BOYCOT BANK OF AMERICA THAT IS THE SOLUTION.... IF YOU ARE A TRUTHLY US CITIZEN....
By the way I am not against the illegal people is the Bank of America a hipocrit Bank thats all...They have it coming and I am glad if Bank of America goes down on bussiness...What goes around comes around I have 10 years waiting for this bad thing happen to Bank Of A. What the odds about that?

Answer 5

The cards given to immigrants will not have the same terms as the card that you have. Those cards probably have higher interest rates, more/higher fees, lower limits, minimum balances in the required bank account, etc.

When you used your SSN and good credit history, you received a financial product at a lower cost and with more flexibility. How is that not fair?

Answer 6

I traveled to Brazil many times, have met many people who have come to the use (some jut to visit). Here is what some have said to me. They have said that have been able to get huge loans and credit cards. Have used the credit cards to purchase stuff here and then taken to Brazil over time. Now they are in Brazil and didn't have to pay a penny for their stuff or loan. Of course we are paying for them (higher interests, ATM fees and lower interest on savings). Isn't America beautiful, how long will it take until Spanish will become an official language?

Answer 7

Once you become an Immigrant in the U.S., you are qualified to have a SSN. An Immigrant/Permanent Residence is entitled to every right offered in this country just like an American citizen. The only difference, they cannot vote. Immigrants are legal to stay and live and make a life for themselves. You have to get over your hate against Immigrants considering we are all Immigrants at one time. God bless the USA that we live in a country that is founded in life,liberty, and pursuit of happiness.

Answer 8

Look at these two previous posts on here. Alot of good points were made.
http://answers.yahoo.com/question/index?qid=20070214075728AAszIMj&r=w#EMUtCTbvU2LmtEQW8xHgknRMiaR_dPajjL0ktCqq7vOpF2H0fSfP
http://answers.yahoo.com/question/index;_ylt=AgxSKSUSGg90660bmSkLu.bsy6IX?qid=20070214090640AAkoDBF&show=7#profile-info-f4fb7d65e0dfd5898923f7623ab4284baa
Hope this helps explain some. Good luck.

To game over01. Where's the links pal? I'm waiting. By the way where's the best place to get good salsa?
to minstrell: Well maybe they should have thought about that before they financially support terrorist organizations that helped and implement a coercive psychological unconventional warfare initiative against the legal US citizens and its government upon US sovereignty(And continue to do so!!!!). Guess what, i think interference is going to be the least of their problems. LOL!!!!!
LOOK UP THE PRIVACY ACT OF 1974!!!!!!!!!!Banks are supposedly private right? LOL!!!!!!!!!!

Answer 9

What is worse is that our banks have insurance paid for by the U.S. Citizens that insure them from loss. "FDIC", "FLSIC", and other federal programs that help them to make loans. Banks must have savings accounts and assets in order to make loans to anyone. If you study money and banking, you will learn that a bank can lend out $7 for everyone $1 they have on deposit. (The number may have changed but the principle is still the same) If the majority of these illegal aliens default on their loans, then guess what? The bank will simply file bankruptcy and then the FDIC will insure those with savings accounts get back pennies on the dollar but the banks will be free to continue laundering money or promoting money laundering through bad loans at our expense. It's time American Citizens boycott all banks who lend money to illegal aliens or who do not abide by US laws. The illegals call US Citizens "Suckers" because we ARE often willing participants in their scams.

Do you remember the Savings and Loan defaults that we American Citizens are still paying for? At least one of the Bush Brothers was heavily involved in that scandal. Those who don't remember the past and who don't take precautions against its repetitions are destined to repeat it and the losses will become greater and greater.

Answer 10

Yes, I saw that also and it's truly a shame. It's these companies that need STIFF fines or forced to close because they are helping illegal aliens. Folks, American companies have turned their backs on us.

Shame on Bank of America and many other companies.

http://www.businessweek.com/magazine/content/05_29/b3943001_mz001.htm
And we don't have an immigration population????? They're infiltrating everything.

Just because someone doesn't like this situation has NOTHING to do with her/him having or not having a credit card. It has NOTHING to do if she/he has or has not made late payments. It has EVERYTHING to do with what is right for this Country.

Peanut, thanks for bringing this up, sadly some love to just insult without seeing the real problem. Thanks for being a concerned American citizen!