Student Racks Up $140K Credit Card Debt, Thumbs Nose At Banks ‘A Lesson for American Capitalists’ [Roundup]

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Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Comments

  1. Why do we allow Chinese students to come study here, when they’ll also just walk away from any student loans, and use the expertise they learn against us. Now why banks will give foreign students money secured credit cards is beyond insane.

    I hope this punk is never allowed to set foot in the US again.

  2. How does a foreign strudent, presumably with no credit history, get $140k of credit? I’d guess he probably just unintentionally screwed over whoever initially co-signed his credit card applications.

  3. Foreign students can’t get student loans. They either pay full freight or get scholarships/aids from the schools.

  4. Mind you these are the same idiot credit card companies with their 5 /24 rule or other similar rule
    So not ok to get another sign up bonus after having perfect credit history and never been bankrupt etc
    But ok to extend credit to some international deadbeat and eat 6 figure losses repeatedly
    If I ran a bank I’d say get your loan and credit in Gina and have it secured or have collateral of some kind
    In the end we all pay for these losses

  5. @ Mantis
    Slow clap…….
    I’m wondering how they pulled this off. My daughter graduated with her masters and set off to work. She applied for a credit card and got turned down. No student loans or any issues other than just part time jobs while in college. I had to co-sign for her to get a card. Had to be some fraud involved but that is something the Chinese are really good at. That and stealing technology from other countries.

  6. Boeing shareholders must think Boeing is going in the right direction. The whistleblower sounded conflicted. Praying doesn’t sound compatible with suicide.

    The Natalie Hage story was from 2017.

  7. I can understand the maintenance cycle bit–it’s a lot easier to change them at X interval than to go around inspecting. But I strongly suspect they are cheating.

    And what’s that international student going to do to future international students? How much credit can the next one get?

  8. Mantis this is NOT new and NOT just Chinese student. When i was getting buy BS. When I was getting my BS in 1984. A South Africa graduate student got multiple credit cards including radio shack filenes etc. then moved home after graduation. So they know the game 30 yrs later.

    Meanwhile my 22 yr old nephew needs mommy as a co signer on his credit card.

    So I am leaving this to be fake alternative facts

  9. Revolving lounges ought to speed up the revolutions … they are usually too slow .

  10. This “hack” (foreign nationals using CCs to get US university degrees for free) has worked for at least 25 years.

  11. I’m genuinely stunned that Boeing reelected any board member, let alone all of them.

  12. There is nothing new in foreign students getting credit card approval and then just failing to pay off the credit card debt and ruining their credit score for many years. US students do this kind of thing too, but US students with big credit card debts don’t as frequently permanently relocate out of the country after running up the charges and skipping town — or actually the country. People of all sorts of political dispositions have run up big credit card debts without paying them off.

  13. He should have gotten student loans, the democrats would have forgiven them. This is brilliant though.

  14. Better to forgive US students’ student loans used for school tuition in the US than to use the same money and way more than that to fund counterproductive wars which risk putting a target on the backs of Americans because of criminal excesses committed by government actors that are not held accountable enough fast enough for justice to be justice rather than a sham that does the powerful and more privileged a favor not given to those far down on the socio-economic ladder and lacking those privileges.

  15. Airport CEO Phillip Washington did an outstanding job of running RTD into the ground, and seems dead set on burying DIA well under the dirt. They can’t even figure out how to clean the water stations.

  16. I know a libertarian in TX who won’t pay incomes taxes, cc bills, etc. because he doesn’t believe in that. Amex sued him for cc debt. He chose to go to trial in the middle of nowhere TX, and the lawyers for Amex never showed. His case and debt were dismissed . He strictly uses cash now, but I find it interesting.

  17. @ Anonymous – If someone sues you, you don’t get to pick the venue for the lawsuit. Ask our last president.

  18. @ Anonymous – Amex has lawyers everywhere, Amex does not show up a local lawyer from that area goes to court for them.

  19. I’m not surprised more people don’t have this attitude with our federal government showing the way with $35 trillion of debt and no intention to ever pay it back.

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