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When I apply for a loan/credit card, can the bank request income information?

Yes. A bank that offers you a credit card account is required to consider your ability to make the minimum payments required. A bank must consider your income or assets and debts in deciding whether you are able to make these payments.

If you are not yet 21 years old and cannot show an ability to make payments, the bank will also request financial information about a cosigner.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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