Business

BoA offers Credit Cards to Illegal Aliens

Bank of America has started offering credit cards to "Illegal Aliens" – basically the Mexicans coming to the US. Many are up in arms against this. However, this program has two BIG ifs:

  • The Mexicans like to pay everything in cash – they do not have a credit culture to speak of.
  • the Interest rates are very high – close to 21%! That is highway robbery.. something akin to what the Money lenders in Indian villagers would do to keep the villagers in bonded labor for generations!

So what does BoA do? It is pumping money into ad campaigns to make Mexicans like Credit Cards.. they send out mailers .. making the guy who got his credit card feel like the King of the World! Amazing, how decadent the commercial culture can get!

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Desh Kapoor

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