answersLogoWhite

0


Best Answer

The purpose of a credit application is to give the creditor information on the person who wants them to extend credit to them in order to decide the best way to limit their risk in extending that credit.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is the purpose of credit application?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the most common purpose for a net worth statement?

loan or credit application.


Function of credit analyst?

A credit analyst is the one who evaluates the credit worthiness of individuals and businesses. They make decision about customer credit applications using different criteria that includes credit viability, customer payment history and purpose of application.


Will your last name show misspelled in your credit reports if you misspelled your last name in a credit card application but the application was denied?

If your credit card application was denied, you do not have a credit card. You are not in the credit company's system. Therefore, you will not receive a report.


What is the status of your BPI credit card application?

What is the status of my BPI credit card application? mayette garcia


How a general-purpose application package is different from a specialized application package?

Explain how a general-purpose application package is different from a specialized application package.


Is it illegal to lie on a credit card application?

Yes it's called FRAUD if the purpose of the lie is to defraud money - the company can refuse or revoke the card and demand payment in full. (See the fine print on the application.)


Where one can get visa credit application?

There are many places where one would be able to obtain a Visa credit application. One would be able to get a Visa credit application from their local Chase Bank.


Where can one get a Visa credit application?

There are many places where one would be able to obtain a Visa credit application. One would be able to get a Visa credit application from their local Chase bank.


What is the function of the business credit application?

The function of a business credit application is to help manage and screen out potential customers who are seeking approval for loans and credit cards. This application helps increase efficiency.


What is the function of a business credit application?

The function of a business credit application is to help manage and screen out potential customers who are seeking approval for loans and credit cards. This application helps increase efficiency.


What is the purpose of a credit rating?

The purpose of a credit rating is to determine a person's creditworthiness.


How do you follow up my credit card application at BPI?

i want to know my application true online credit card, how will i get it