Lenders to guess your income from credit report
Posted by
Tiffany Chiles in
News U Can Use on
Feb 7th, 2010 |
8 responses
You may never know when it happens, but lenders may begin guessing your income before they approve your credit application when the new Credit CARD Act takes effect on February 22. The new law requires lenders to consider your ability to pay any new or additional debt before approving a credit card application. While they could do something as simple as ask you, they may want to verify what you tell them.
Since most people don’t carry around a pay stub when they go shopping, if you decide to apply for a credit card during a shopping trip, the stores may look for a clue about your income when they ask for your credit score. Consumers now need to show proof of income when they apply for a card, and not many of us carry this around when we are shopping in the mall.
8 Responses to “Lenders to guess your income from credit report”
Leave a Reply
Sarah xx
Very much loved this article, thanks! Will be adding you to my RSS for sure. Much love, Sarah xx
Thoroughly enjoyed this article, thanks! Will be adding you to my RSS I’m sure. Much love, Sarah xx
I usually agree with what you post here, but in this case I must say that I do not share your views.
Hello – just a brief note to say thank you for this entry. Very well-written.
Congrats for posting such a amazing post on your website. This blog happens to be not only helpful but also especially creative too. We come upon a restricted number of bloggers who can assume to write professional content that creatively. Many people continue searching for content on a subject like this. We ourselves went through a number of websites to come across knowhow relating to this. I will check back time and again ! If you have time, please check our buy resveratrol supplements blog.
Hi, i must say fantastic blog you have, i stumbled across it in Google. Does you get much traffic?
If I get the product and I dont like it how soon do i return it?