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From: vu0425@bingvaxu.cc.binghamton.edu (vu0425)
Newsgroups: comp.dcom.telecom
Subject: Re: Credit for Non U.S. Citizens
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Date: 25 Oct 90 12:06:21 GMT
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In article <13969@accuvax.nwu.edu> AAT@vtmsl.bitnet (Asif Taiyabi)
writes:

>Since there was a posting some time back whether Non U.S citizens
>could be denied credit legally, I am posting the information I
>received on one of the Universal Card brochures --

As far as I recall, a federal judge ruled that non-US citizens could
be denied credit legally, and that the Equal Credit Laws did not apply
to them.

But then again, I'm a permanent resident, and I've never had a problem
getting any credit. I've got a whole slew of high interest credit
cards, an auto loan (as of yesterday morning!).

However, look at it from the point of view of the creditor. I could,
if I wanted, skip the country tomorrow, stick my car on a ship, take
it back to my country of origin; take all my credit cards to their
limit. What're my creditors going to do? Try to have me extradited for
owing them between 3000-10000 dollars each? Sounds rational, but it's
pretty impossible. In the meantime I could be zooming around in the
streets of Bombay in my shiny new Ford Taurus, spending all the
hundreds of thousands of rupees that I ripped of these "foreign"
credit card companies.

Therefore, until there exist better international agreements on such
matters, I have no problems with the fact that Equal Credit laws do
not apply to non-citizens.