Report: Bank of America’s New Credit Card Targets Illegal Immigrants
Wednesday, February 14, 2007
NEW YORK — Bank of America Corp. has begun offering credit cards to customers without Social Security numbers, typically illegal immigrants, the Wall Street Journal reported on Tuesday.
In recent years, banks across the country have been offering checking accounts and even mortgages to the nation’s fast-growing ranks of undocumented immigrants, most of whom are Hispanic, the paper said, adding these immigrants generally have not been able to get 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, the Journal said. Bank of America tested the program last year at five branches in Los Angeles, and last week expanded it to 51 branches in Loas Angeles County, home to the largest concentration of illegal immigrants in the U.S., the Journal said.
A Bank of America spokesman was not immediately available to comment.
Credit challenged? Been a while since you stopped by the bank? Psst…they open at 9:00 AM. Kudos to Bank of America for using the easy way to follow the money.
“Everybody Is Up To Something.” sm