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Why does my bank ask for so much personal information before being able to make a decision about issuing a card or increasing the limit on a card?

April 26, 2017able Bank card decision issuing

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Why does my bank ask for so much personal information before being able to make a decision about issuing a card or increasing the limit on a card?

1 Answer

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Your bank must be assured that you are capable of repaying your debt. To evaluate if you are credit worthy, we request information concerning such things as your income, the loans you currently have, and your permission to check your credit history.