The Truth About Credit Cards.com

It was reported by the Wall Street Journal Tuesday that Bank of America will begin offering credit cards without the need for a social security number or credit history.

The no credit history credit cards are likely aimed at illegal immigrants, mainly Hispanics who lack citizenship, but whose population continues to grow exponentially in the United States.

The terms of the credit card are unknown, but according to the Wall Street Journal, the credit card is available only to current Bank of America customers who have had a checking account open for at least three months, and who have avoided an overdraft during that time.

The program was first tested last year in five Los Angeles Bank of America branches, and is due to expand to 51 branches in Los Angeles County this week, and nationally by the end of the year.

Illegal immigrants are likely seen as an untapped demographic that could increase credit card accounts for Bank of America, and see them back on top in the U.S. market after Chase recently stole their crown.

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