Your Personal Information and the Credit Card Application
Information You Do Not Have To Provide On Your Credit Card Application
When You fill out your credit card application, there is certain information that is required and other information that is not. You do not have to provide any information about your marital status, religion, race, or familial status. They shouldn’t even ask about this.
Almost all credit card applications will ask for your income information. You don’t have to provide any information about child support or alimony, unless you are planning to use it to pay the bill. Generally, your income information is used to consider your line of credit. Many credit card companies allow income information to be left off. I would advise against this though, you may end up with a lower line of credit than you wanted or more credit than you need.
Many people are uncomfortable giving out their social security number. Most of the time this can be left off the application. Keep in mind though that not providing your social security number may cause the processing of the application to take longer. You also need to be sure that you do provide enough information that your identity can be verified.
Information That Is Required On Your Application
You do have to provide a physical street address. If you get your mail at a post office box, you can provide that for a mailing address, but they still need your physical address too. The reason for this is that financial institutions are required to obtain and keep a record of your physical address.
Your date of birth is also required. There are two reasons for this. First, they need to verify that you are at least eighteen years old. The second reason, is to verify your identity. They need to verify that you are who you say you are and also to run a credit report.
What Is Done With The Information On My Credit Card Application?
The information on your credit card application will first be used to check your credit and to determine whether or not you will be approved for the card and what amount your credit limit will be. It is also used to determine your interest rate.
Often times, the information you provide is used to send you offers about other products and services. Sometime it is used within the company, other times, it is sold to other companies. You can always opt out of this particular use of your information. You can call the credit card company to find out how. Sometimes they print it on the application.
Whenever you apply for a card, read the fine print. There are often several pages. Nobody wants to read it, it’s not an exciting read, but it contains important information. It usually contains information about the terms and conditions of the card as well as information about how your information will be used. Make sure that you are comfortable with everything it says before you send in the application.