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credit cards faq/glossary
The most common questions asked about Credits Cards.
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Credit Card Glossary
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A
 
Application
definition
What does Application mean?

When a consumer or consumers decide they need a credit card they usually have to fill out a credit or debit card application. This application typically requires the applicant to give his or her personal information like Social Security number, income , address. It also asks for the type of card the user or users want to apply for along with some other standard information. This information is required in order to facilitate the card issuer in deciding whether or not to extend credit and to decide what the optimal rate would be.

The application is validated by several people’s signature, first you need the cashier’s signature or whoever is helping the applicants fill out the application and works for the appropriate financial institution, then there is the customer’s signature which is equally important. If there are more than one customers they are all required to sign the application. If for instance a husband and wife apply for a credit card, they are both required to sign the same application, and are both individually responsible not only for the credit card charges but the entire debt as well.
Application fee Next Word
Previous Word Annual percentage rate (APR)
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