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Can you ask an applicant about marital status if the applicant requests secured credit?
Yes, you can ask an applicant about their marital status when they request secured credit, as this information may be relevant for assessing their financial situation. However, it's important to ensure that such inquiries comply with applicable laws and regulations, such as the Equal Credit Opportunity Act (ECOA) in the U.S., which allows for this question in certain contexts. It's advisable to clearly explain why the information is needed and to handle it sensitively.
What else can I help you with?
It is legal for a creditor to deny an applicant credit based on marital status or age?
is it legal for a creditor to deny credit based on age or marital status
What are four parties to the letter of credit?
The four parties to a letter of credit are the applicant, the beneficiary, the issuing bank, and the advising bank. The applicant is the buyer who requests the letter of credit from their bank. The beneficiary is the seller or exporter who receives the payment upon fulfilling the terms of the credit. The issuing bank is the financial institution that issues the letter of credit on behalf of the applicant, while the advising bank is the bank that communicates the letter of credit to the beneficiary, often located in the beneficiary's country.
Who is the applicant in lc docs?
In LC (Letter of Credit) documents, the applicant is the party that requests the issuance of the letter of credit, typically the buyer or importer of goods. They provide the necessary documentation and information to the bank to facilitate the transaction. The applicant is responsible for ensuring that the terms of the LC are met and may also bear the financial obligation to reimburse the bank upon completion of the transaction.
Will secured credit card improved my credit?
Will secured credit card improve my creddit
What is all of the information on a credit card application used for?
The information given by the applicant is not only used to verify the applicant's identity, but also to obtain their credit score, which will determine if the applicant is accepted as well the credit line offered to the applicant.
What types of information are asked for on a typical credit application?
A typical credit application requests personal information such as the applicant's name, address, Social Security number, and contact details. It also asks for financial information, including income, employment status, and monthly expenses. Additionally, the application may require details about existing debts and credit history to assess the applicant's creditworthiness.
If you use MBNA Cleansweep for 10K debt but need a co-applicant can the co-applicant's credit be hurt?
Yes. The debt will appear on the co-applicant's credit reports
Will a co-applicant who has bad credit hurt the chances of the primary applicant getting approved for a loan assuming the applicant has good credit?
yes unfortunatly i think so.
Which credit cards are secured?
Secured credit cards require that you supply a cash deposit as collateral that becomes the actual line of credit. When first establishing credit or reestablishing credit secured credit cards are an excellent method to use and most banks will be able to provide information on the secured credit cards they offer.
How do you know if your credit card is secured?
A secured credit card is a card on which you load money to be used by you. You will know if your credit card is secured if you must put money on it to use it.
What is a secured credit card?
a credit card that is secured by a deposit of your own money
Will a secured credit card help to build or restore your credit score?
A secured credit card is one issued by any financial institution that have a certain amount guaranteed by you. Secured credit cards will help to restore your credit ratings and scores.
