Credit card for international students

[longtermgardener]

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@100down0monthly wrote:

I stand corrected.  By clicking the "I am a US resident" on a credit card application as an H1B holder, wouldn't you be technically committing credit fraud?

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You have to ask banks and USCIS this question. The day I joined a chip company in California, I opened a savings and checking account with BoFA. They also gave me credit card application and asked me to apply for a credit card. I filled out the form and gave it back to them 2 weeks after I got my SSN and I was approved with Visa Siggy with $9.5k limit. I didn't had any credit history in this country nor I had any knowledge about credit cards in US and it was BoFA who gave me my first credit card. All they looked at was my offer letter from my company, my passport and my SSN. Is there fraud committed by me?. Do you mean no work visa holders or international students should get credit card?.

[longtimelurker]

I certainly got my first credit cards here before I became a perm resident.  Long dropped off my credit report, but I had $1,000 CL from Bay Bank, took me 9 months to get it.

You can't really run up huge debts with a small CL, and of course there is nothing to prevent a PR running up the same debts and going back to the home region.  (And even citizens can do it!)

[enharu]

Longtermgardener:
You seem to be mistaken about what I have been saying. You can apply for cards. Most banks just require non-immigrants to apply in branches.
Your BofA banker knew you are a non-immigrant and processed your application as such.

Most online applications are for permanent residents or citizens only. By applying and agreeing to those terms, you are fraudulently misrepresenting yourself as a permanent resident or us citizen. You are basically just doing the process the wrong way and filling in the wrong forms and agreeing to terms that you shouldn't have.
Some banks such as Barclays want to permanent residents and citizens only and therefore their doors are not open to non-immigrants

[longtimelurker]

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@enharu wrote:
Longtermgardener:
You seem to be mistaken about what I have been saying. You can apply for cards. Most banks just require non-immigrants to apply in branches.
Your BofA banker knew you are a non-immigrant and processed your application as such.

Most online applications are for permanent residents or citizens only. By applying and agreeing to those terms, you are fraudulently misrepresenting yourself as a permanent resident or us citizen. You are basically just doing the process wrong.

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Our confusion probably comes from your comment:

The banks require applicants to be residents and permanent residents not because of discrimination, but purely out of their own security. A non-immigrant can rack up tons of debt, pack his bags, leave the country, and the banks essentially cannot do anything about it

I didn't realize you meant that only for online applications.  But then it makes little sense from a security viewpoint, as the applicant might not be truthfully representing their status.

[100down0monthly]

IF a credit application specifically asked you to check a box stating that you are a US resident, and you checked it while NOT being a resident, then it's my guess that it could be considered fraud.  Think about it.  You KNOW you aren't a resident and check the box.  You can tell me that you honestly believe that this isn't a lie/fraud?

I can totally understand why some lenders would be hesitant to extend credit to non-residents.  Reason?  Well, if for example, an H1B holder were to be suddenly terminated from employment and required to return to their country, there is a very high chance that an uncollectible debt could be left behind.

[enharu]

Ok let me clarify again. Sorry for the confusion.

For some banks, they specifically ask for your status, or state that by applying, you are declaring that you are at least a permanent resident in the United States. You need to read the T&C to make sure you are not agreeing to things you are not supposed to.

For non-immigrants, some banks have other forms and a different process to apply for a credit card. Most of those banks require those people to apply in person at a branch. They can still get a credit card like everyone else. The process is just slightly different.

Some banks on the other hand, do NOT want to business with non-immigrants entirely.

[longtermgardener]

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@100down0monthly wrote:

IF a credit application specifically asked you to check a box stating that you are a US resident, and you checked it while NOT being a resident, then it's my guess that it could be considered fraud.  Think about it.  You KNOW you aren't a resident and check the box.  You can tell me that you honestly believe that this isn't a lie/fraud?

I can totally understand why some lenders would be hesitant to extend credit to non-residents.  Reason?  Well, if for example, an H1B holder were to be suddenly terminated from employment and required to return to their country, there is a very high chance that an uncollectible debt could be left behind.

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Not all online applications has this clause like Barclays. Check in Chase website, try applying online and if you find anything then post it here.

[100down0monthly]

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@longtermgardener wrote:

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@100down0monthly wrote:

IF a credit application specifically asked you to check a box stating that you are a US resident, and you checked it while NOT being a resident, then it's my guess that it could be considered fraud.  Think about it.  You KNOW you aren't a resident and check the box.  You can tell me that you honestly believe that this isn't a lie/fraud?

I can totally understand why some lenders would be hesitant to extend credit to non-residents.  Reason?  Well, if for example, an H1B holder were to be suddenly terminated from employment and required to return to their country, there is a very high chance that an uncollectible debt could be left behind.

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Not all online applications has this clause like Barclays. Check in Chase website, try applying online and if you find anything then post it here.

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By submitting this application, you are requesting us to open an Account in your name and to issue Card(s) as you direct. Only qualified individuals 18 or over may apply for an Account. This offer is available to US Residents, excluding Puerto Rico and the US Virgin Islands.

The above is from the T&C of the Costco Amex application..  You have one listed in your profile.

[longtimelurker]

This offer is available to US Residents

That is ambiguous and I would interpret it to mean "have a US address" especially as they then go on to exclude the VI and PR, where both US citizens and perm res might live.  So this is NOT the same as saying citizens and perm res only, as you seem to suggest.

[Mythreya]

Thanks for all your Valuable answers Guys i have posted More Questions that came in to my mind. HERE is the link 

Credit Questions