Proof of Income & Debt can be requested with Credit Card applications.
Credit Card issuers will be allowed to request proof of income from anyone, at any age, who applies for a credit card. It used to be consumers would fill out a written or verbal application and whatever income was stated would be accepted no questions asked. Moving forward any issuer is supposed to request income verification, reviewing assets, and current obligations. One of the problems we have seen is various creditors had issued cards to consumers with no thought of other credit card obligations or limits. It will be interesting to see if this really happens and if there is any enforcement in place for creditors to actually use these procedures.
About Tracy Becker
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For over two decades, I have owned and operated a Credit Education and
Restoration Company. We can increase Fico Scores by hundreds of points and
our fee is billed based on success. I enjoy Public Speaking across the
Country where I work with all kinds of Professionals, helping them find
solutions to Credit Problems. I have Expertise in both personal and
business credit. I've worked with thousands of people leading them into
better credit and ultimately, financial health and more opportunity. I
educate Bankers, Realtor's, CPA's, and Finance Experts on Credit from A-Z.
I'm also publishing my second book "Credit Score Power". Lastly, I've been
interviewed on national Television and Radio as a Credit Expert. Feel free
to contact me if you have any credit questions or clients who wish to
increase their credit score.
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