Why Bank of America target illegals.

Senate Governmental Affairs Investigations Sub-committee hearing on credit card practice.
Bank of America deliberately target illegals because they assume they will not pay their balance off each month, go over the limit and make their payments sometime late and only make minimum payments. This gives the credit card lender the chance to raise interest in each instance which is higher than the payment.
For instance, on a $2,000 limit they would pay approximately $6,000 in interest if ever they bills paid off’
I am hearing this on the hearingc of credit card practice.
Many do not read the fine print, which explain interest rates which is impossible for the borrower to understand. These are interest charges that on tacked on daily, late charges, if you go over the limit. Credit card is never paid off but even if it is not, Bank of American still have collected much more than then have lent by the time the browerer know he will never pay the bill off at paying a minimum payment. Which many can only afford to make.

Bank of America deliberately target illegals.


Google; credit card practice
http://money.cnn.com/2007/01/25/pf/cred ... ney_latest