Chinese students in the United States fled back to China after maxing out their credit card for 1 million!

It is reported that a Chinese student studying in the United States maliciously overdrew multiple U.S. credit cards and cashed out about 140,000 U.S. dollars (equivalent to 1 million yuan) before graduating and returning to China. He proudly declared that this was his "first pot of gold" and threatened to teach American banks a lesson.

Afterwards, the student quickly left the country and returned home. Now, there is the latest development in this incident.

International students cash out 1 million before returning home

This American student posted online that he was leaving after graduating from college, and before leaving, he maxed out all the credit cards of various banks (a total of $140,000 on personal and business cards, which is equivalent to 1 million yuan in RMB!!!)

He also claimed that he was teaching American capitalists a lesson and "generously" showed off the balance in his bank account.

What a great "Cixi helped me pay it back", others were just joking, I didn't expect you to be serious!? ?

He also claimed that he would use this "first pot of gold" in his life to return and contribute to his motherland.

Once the post was published, it quickly spread to the outside world and attracted heated discussions among foreign netizens.

"It's very confusing, don't these banks have limits, especially for people who don't have permanent visas, so everyone can do this and cross the border to Mexico."

Some netizens also analyzed the reasons why he did this. Although his reputation in the United States was ruined, other places would not be affected. It would not even affect his entry into the United States again, nor would he be denied a visa due to debt.

So, did these American banks and "capitalists" learn anything from this "lively and educational" course?

This year, the sequel came.

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The Federal Reserve released the latest data, and it is becoming increasingly difficult for Chinese students to apply for credit cards

According to the latest data from the Federal Reserve, the continued rise in U.S. consumer debt has caused concern. In the fourth quarter of 2024, mortgage balances increased by $11 billion to $12.61 trillion, achieving 11 consecutive quarters of growth.

More notably, total credit card debt reached $1.21 trillion, a surge of $45 billion in a single quarter and a 4% year-on-year increase. This data reflects the widespread phenomenon of "borrowing consumption" in American society.

However, behind this set of macro data, a special group is facing unexpected difficulties. Since the "million-dollar credit card swipe" incident of a Chinese student in 2023, more and more Chinese students in the United States have found it extremely difficult to apply for a credit card.

A large number of rejection cases have emerged on social media, and the reasons for rejection are somewhat nonsensical, such as "current or past defaults, negative public records and/or collection accounts", but this international student has just arrived in the United States...

There are even reasons such as "there is a risk of identity theft."

Recently, more and more people have reported difficulties in applying for credit cards, and posts describing experiences of multiple rejections or even "total failure" are not uncommon.

It can be said that "the previous generation cut down trees, and the next generation will suffer"...

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Final Thoughts

In short, the impact of this credit card overdraft incident is not limited to the damage to the reputation of the person involved, but will also affect the image of the entire Chinese student group, causing many law-abiding students to be unreasonably suspected of "lack of credit".

Although human nature is hard to escape the pursuit of profit, we should also remember: when drinking water, we should remember its source, and a single tree cannot make a forest. The improper behavior of an individual may become a burden to the group. Only when everyone is united in mind can we move forward steadily.