Bank of America?? What about blacks, women and other minorities who are ACTUALLY LEGAL and DONT live in L.A.??

Question

This is just a portion of the email you receive from BoA if you email them in regards to the new credit policies for hispanics:

"Given we have 5,700 banking centers throughout the country, this is a very small pilot that educates and helps existing Hispanic customers understand how to develop good credit history in 51 Los Angeles banking centers.

We value you as a customer and appreciate your business. If we may be
of further assistance, please contact us again by e-mail. Thank you
for
choosing Bank of America.

Sincerely,

Peggy Tighe
Bank of America"

Im not hurting for credit here, just a question people. I think BoA is really pushing the envelope and I hope they feel it! I just closed my account and went to Wachovia today...So did all of my friends and family who previously banked w/BoA. Screw them!

Answer 1

How about people who are illegal shouldn't get credit cards.....and if they do then it's illegally anyway with stolen identity.

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I have to add that if they sent the same letter and replaced Hispanic with Caucasian there would be suits filed against them left and right. And if it said African Americans that would even cause an uproar. But the fact that it says Hispanic, it's considered more acceptable. Just more racism, disguised as trying to help out someone.

Answer 2

According to the Social Security Administration, banking institutions are not required to use SSNs to conduct business with a bank. Other forms for immigrants can be used including:

Form I-551 (includes machine-readable immigrant visa with your unexpired foreign passport);
I-94 with your unexpired foreign passport; or
Work permit card from DHS (I-766 or I-688B).

I'm sure they prefer SSNs because it is much easier to use, but ideally you shouldn't use your SSN unless it is truly necessary. If you really want to make a stink, you don't need it to get private insurance, register for school or subsidized housing. Regarding getting a credit card, I'm sure this offer isn't limited immigrants, if you really want to make a stink out of this. Take a look at www.creditcards.com. I got mine through there and I'm a recent college grad with no previous credit history. Granted it asked for my SSN, it is by far more accessible than asking for a birth certificate or visa etc.

Answer 3

The program you are referring to is basically the same product offered to "very high risk" clients, the only exception being that a Social Security Number is not required. Most likely, the interest rate charged by BoA for people who chose not the give a Social Security Number is much higher than those who do. The product is available to anyone, not just to people without documents. Those with documents are more likely to use their Social Security Numbers, because they will get lower interest rates.

Answer 4

B of A made a very bad mistake and many people are cancelling their accounts. I cancelled my account with B of A many years ago because I had a great deal of difficulty with stealing money from my account. It turned out to be a bank employee. I use Wells Fargo in California and they are a much better bank, but they do not pay a fair amount of interest on a savings or money market account.

Answer 5

I will readily believe anything bad I hear or read about BofA. They are not the bank they used to be when they were confined to operating only in California and out of the country. Now, they are country-wide and world-wide, and they don't give a crap about anyone but themselves, that includes their rank and file customers. They like to play the "bait and switch" game too. If I was king of the world I'd disband B of A. They are totally corrupt.

Answer 6

First and foremost, they are going after the legal Hispanics (whether immigrant or natural-born). I know this because illegal immigrants can't get credit cards.

Secondly, blacks and women and other minorities (as long as they are legal) can get credit already. In fact, the fact that they didn't say anything to them would suggest that they believe all those minorities are capable of establishing good credit. This suggests racism against Hispanics more than anything. However, their heart was in the right place and so I think it can be forgiven (I am Hispanic, legally born here to parents who were born here to grandparents who were born here as well--in fact, I have ancestors who were here before it even became America).

Thirdly, they are doing this to make money. They are going after that dollar in the Hispanic pocket. Which is putting it back into the American economy; so I think you can forgive it because it is helping America and therefore to an extent you. All that complaining you do about the illegals not paying taxes; this is how you get that money back, so let it go and accept they are doing something good for others.

Answer 7

Bank of America is all over the USA and will help any and all who want to develop good credit to get good credit with the bank you have to show proof that you are a legal resident S.S number and Drivers License they do a back ground ck from this information

Answer 8

Bank of America is not a welfare program.

You don't deserve a credit card until you've earned it, so stop your whining.

BoA is likely going to lose a lot of money on this. It's never a good business policy to give money to people who can't pay it back. It has nothing to do with race or nationality, it's all about income and ability to repay.

Answer 9

If you have ok credit, BoA will give you a credit card and they don't care whether you are purple or lilly white, just that you have the income to pay them back.

If they deny you try Household Finance (HSBC Bank) or Orchard Bank, they finance people with much lower credit scores.

Not everything is racism.

Answer 10

you guys are missing the point the person already must
have a checking account with bank of America before they can
get credit card..
they are not just giving people credit cards off the street