The credit granting process?

Discussion in 'Credit Talk' started by Troy, Feb 2, 2001.

  1. Troy

    Troy Guest

    I am trying to find out what the process is when a credit issuer recieves a new credit application. I mean, Im trying to find out everything! What is most important to me though, is the precautions they take to prevent identity theft. I think I remember reading something that said if the address on the application is different than the address on the persons credit report, they call directory assistance to verify that the person actually lives at the new address. I dont know. This would only apply if the person recently moved and decided to apply for a new account. Im just doing research and would appreciate anyones help...thanks for reading
  2. roni

    roni Well-Known Member

    RE: The credit granting proces

    I'm not too sure what you are asking. But I when they verify address that is mostly for scoring purposes. Besides your overall fico or credit score which is a 3 digit # from 300-900, the credit card companies keep their own score card.

    You get points for certain factors which make you more creditworthy. This includes
    -lenght of time on job
    -type of work/professional etc.
    -years at address
    -rent or own
    -having a phone in your name
    and their are other factors.

    They assigns point values to the factors and use that to determine if they will give you the card along with your credit score.

    I hope this info helps. There is alot more to it but my fingers are a little tired. I will get back to you later.


  3. John Shimm

    John Shimm Guest

    RE: The credit granting proces

    They're not going to use THEIR dime to call Directory Assistance ... pah-leeze. Many people have unlisted phone numbers and addresses, anyways.
  4. sam

    sam Well-Known Member

    RE: uh yes they will.

    citibank certainly will!

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