2023-06-17 15:15:48
Although not all allow them and the requirements may vary from one bank to another, you should know that YEAH, the ITIN I could use instead of the Social Security number (SSN) to apply for a credit card or bank loan.
We know that having an irregular immigration status can discourage many migrants from applying for a credit card, however the law does not prohibit it.
What do I need to apply for a credit card with my ITIN?
First of all, it is important to clarify that each institution has its own criteria to issue credit cards, however, these are the main policies:
- ITIN
- Proof of address
- Foreign passport or other government-issued identification
Some banks can make you go directly to their branch to process the credit card with your ITIN.
On the other hand, you must bear in mind that, legally, issuers they can’t demand you to provide an SSN if you do not have one. The Individual Taxpayer Identification Number (ITIN) counts as an identifier and works similarly to a Social Security number.
What banks issue credit cards to people without an SSN?
Here we give you one small list of banks that carry out this procedure, note this list does not include all banks:
- American Express
- Bank of America
- Chase
- Citi
- Capital One
However, your request may be denied. for lack of credit historyIf that is your case, you can try secured credit cards.
Keep in mind that credits earned abroad do not transfer to the US, so you will need to start create one zero.
Why is it so complicated to obtain a credit card with the ITIN?
Since 2001, the patriot act of the United States holds each bank responsible for the individual accounts it opens.
The purpose of this law is prevent illegal activitiessuch as money laundering or identifying potential terrorist threats.
That is why most banks and credit card companies prefer a valid SSN over the ITIN.
What is the ITIN?
The Internal Revenue Service (IRS) issues the ITIN to foreigners who need taxpayer identification but are not eligible for an SSN.
An ITIN does not give you valid immigration status, nor is it employment authorization, nor does it make people eligible for Social Security benefits.
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