Errors on Your Credit Card Application?

An error in a credit card application can be the result of a simple mistake on your part, a  mistake in information provided to you, information omitted or willful deceit. Regardless of how an error occurs, once you discover it, move quickly to notify the institution that issued you the card. You could save yourself time and trouble, including even criminal charges if the credit card application is deemed fraudulent.

Your Errors

The typical credit card application requires extensive personal and financial information from you, and all require your signature attesting that all the information you provided is correct. The most common credit card application errors are simple mistakes. You can easily transpose a number in your Social Security number, a bank account number or addresses. You can misspell names of people, places or institutions.

There also are easy to make mistakes that concern important information, such as getting numbers wrong in bank account balances, your income or the amount of outstanding loans.

Errors by Others

On almost any credit card application, you will have to research to get personal financial information detailing your present financial condition. It is possible to receive incorrect information about your assets from a bank or credit union and innocently include that information on your credit card application.

Additionally, you will be required to provide current pay information and, if you have been at your current job a short period of time, you might need information from previous employers. This information could be provide incorrectly to you.

Finally, the balance on outstanding loans could be provided incorrectly to you as well.

Willful Errors

Remember, you are signing that credit card application information is correct. If you purposefully overstate your income or understate your obligations you could be liable for criminal penalties if you receive credit or use it or default on it.

Omission

Your credit card application can be incorrect even if you don’t include erroneous information. If you withhold or omit information - such as outstanding loans or other credit card balances - when it is requested, this is an error as well.

When You Find a Problem

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