Answers:
1. What information is required when applying for a credit card?
Answer:
You need to provide personal information, including your - Full name
- Social Security number
- Date of birth
- Physical address (No P.O. Box)
- Estimated gross annual household income. If you're under 21, you will need to provide your personal income.
2. Why do banks need my personal information for my credit card application?
Answer:
Banks need your personal information for two reason: - Federal law require banks to obtain, verify and record information that identifies each person that opens an account.
As a result, your personal is required and used for identification purposes. - Banks use your personal information, like Social Security number, to pull your credit report, which in turn is used with other information like annual income in processing your application.
3. Why can't I use a P.O. Box as an address in my credit card application?
Answer:
Banks need a physical address in order to process your application. However, if your application is approved, you can change your mailing address to a P.O. Box.
4. Can I apply for a credit card with a co-applicant?
Answer:
No, Most banks do not have the option for co-applicants on the application, but you may add an authorized user after your account is opened.
5. Do I need to complete all the information on the credit card application?
Answer:
Yes, although banks will try to process your application without the requested information, but you may experience delays or even be adversely affected by the omission of information.
6. Will I get an instant decision when I apply on line for a credit card?
Answer:
Banks will usually attempt to provide a decision in 60 seconds or less, However, in some cases more information may be needed to make a decision.
