Credit Application

Credit Application: Definition:
The paperwork that a credit-issuing institution will require a prospective borrower to file in order for a them to obtain credit. Generally a credit application will give the lender a picture of the applicant's credit history and current financial situation in order to decide if that person is credit-worthy (i.e. their income/assets are high enough and their outstanding debts low enough to reasonably assume they will be able to repay the loan for which they're applying).

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