I think they will lose their money.
2007-03-29 06:57:46 · 15 answers · asked by Anonymous in Politics & Government ➔ Immigration
They don't expect to get paid by the illegals. It only helps them justify passing on the outrageously high interest rates to us which makes them even more money. The legals and legitimate people who work for a living and pay their bills and debts are the ones who lose,
2007-03-29 07:34:11 · answer #1 · answered by jk 5 · 9⤊ 3⤋
They don't expect to. Banks can justify charging the high card rates due to their "write off" percentages. But, in meantime, they get the aliens to maintain other accounts that they don't have to pay interest on. The bank always wins.
2007-03-29 15:24:51 · answer #2 · answered by Charles S 1 · 2⤊ 0⤋
You can bet any expense they incur will be passed directly on to the ligament consumer that pay their credit cards and have good credit.
Perhaps it was designed to be a tax write off from the start ? All charge offs are tax breaks .
Chase also makes loans to people without social security numbers and has some high interest rate
credit cards similar to BOAs for high risk credit.
2007-03-29 15:09:02 · answer #3 · answered by Yakuza 7 · 2⤊ 1⤋
I heard about this and thought it was the worst move a huge company like that could make. They are trying to compete w/ credit unions and other banks, but I feel that it will hut them more in the long run. I was born here and I can't even get a card, and I have a good job. Most of them don't even have proof of employment since they get paid under the table.
2007-03-29 14:55:32 · answer #4 · answered by kandei_gyrl 1 · 3⤊ 2⤋
Sams Club Credit just went up 39% rate (from 26%). We are the ones who suffer when they don't pay bills. Every month my credit card interest goes up ....we who pay our bills suffer tremendously. WHy do you think they charge so much to have a checking account.. You have to pay them to keep your money.
2007-03-30 01:26:05 · answer #5 · answered by chilover 7 · 1⤊ 0⤋
They don't. At least not all of it. Maybe a few payments, then that will be it. They will pass the loss to the other card holders by raising the interest rates. Pitiful. They will not lose money.
2007-03-29 14:48:12 · answer #6 · answered by Anonymous · 5⤊ 2⤋
Actually the bank is counting on the federal deposit insurance corporation to cover their losses -- in other words, american taxpayers. However, I think if the banks lose money because of bad loans, they should be prosecuted for theft and robbery from their depositers.
2007-03-29 14:40:39 · answer #7 · answered by MH/Citizens Protecting Rights! 5 · 8⤊ 2⤋
they will raise rates for hard working middle class Americans
and give more to criminals that enter the USA unlawfully.
so if they see no problem giving money to illegal criminals why don't they give it to the hard working Americans
2007-03-29 16:56:14 · answer #8 · answered by Anonymous · 1⤊ 1⤋
How do stores make up for shoplifting? Raise the prices on the people who do pay. I do suspect that the government has a deal with them on this though. They'll make up any losses to them for their efforts to assimilate illegals into our society.
2007-03-29 14:38:21 · answer #9 · answered by DJ 6 · 8⤊ 1⤋
You & i will have 2 pick up there debt. Also that will give them access 2 BOA+Mex, an our accounts < I know i have ID thieft threw BOA.
2007-03-29 16:53:52 · answer #10 · answered by Anonymous · 2⤊ 1⤋