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Question about applying by phone

New Contributor

Question about applying by phone

On most credit applications or websites, it says you have to 21 to apply for a credit card by phone. 

My question is why is that? Also, what could be the consequences to the applicant and to the credit card company if they let someone under 21 apply by phone?

Message 1 of 29
28 REPLIES
Senior Contributor

Re: Question about applying by phone

You can only geta card if you have a co signer over 21, due to the credit card reform act or if you show proof of sufficient income

Message 2 of 29
New Contributor

Re: Question about applying by phone

Didnt really answer my question but ok...

Message 3 of 29
Contributor

Re: Question about applying by phone

Because of the law. http://credit.about.com/od/consumercreditlaws/a/credit-card-rules-for-young-adults.htm

US Bank Cash+ -- Chase Freedom -- Citi Dividend -- Citi Double Cash -- AMEX BCE -- Discover It
Message 4 of 29
New Contributor

Re: Question about applying by phone

so is it illegal for an 18 year old to apply by phone?

Message 5 of 29
Contributor

Re: Question about applying by phone


drewrico wrote:

so is it illegal for an 18 year old to apply by phone?


Apparently

"Prohibition on issuance.—No credit card may be issued to, or open end consumer credit plan established by or on behalf of, a consumer who has not attained the age of 21, unless the consumer has submitted a written application to the card issuer that meets the requirements of subparagraph (B)"

http://en.wikisource.org/wiki/Credit_Card_Accountability_Responsibility_and_Disclosure_Act_of_2009/T...

US Bank Cash+ -- Chase Freedom -- Citi Dividend -- Citi Double Cash -- AMEX BCE -- Discover It
Message 6 of 29
New Contributor

Re: Question about applying by phone


slippy84 wrote:

drewrico wrote:

so is it illegal for an 18 year old to apply by phone?


Apparently

"Prohibition on issuance.—No credit card may be issued to, or open end consumer credit plan established by or on behalf of, a consumer who has not attained the age of 21, unless the consumer has submitted a written application to the card issuer that meets the requirements of subparagraph (B)"

http://en.wikisource.org/wiki/Credit_Card_Accountability_Responsibility_and_Disclosure_Act_of_2009/T...


 

 

so if a credit card company lets an 18 year old apply by phone what could be the consequences to the credit card company? I applied for chase freedom, denied of course, but i did it over the phone. I'm only 18 so i dont know if i can get in trouble or if I could possibly get the ing taken off my credit reports.

Message 7 of 29
Contributor

Re: Question about applying by phone


drewrico wrote:

slippy84 wrote:

drewrico wrote:

so is it illegal for an 18 year old to apply by phone?


Apparently

"Prohibition on issuance.—No credit card may be issued to, or open end consumer credit plan established by or on behalf of, a consumer who has not attained the age of 21, unless the consumer has submitted a written application to the card issuer that meets the requirements of subparagraph (B)"

http://en.wikisource.org/wiki/Credit_Card_Accountability_Responsibility_and_Disclosure_Act_of_2009/T...


 

 

so if a credit card company lets an 18 year old apply by phone what could be the consequences to the credit card company? I applied for chase freedom, denied of course, but i did it over the phone. I'm only 18 so i dont know if i can get in trouble or if I could possibly get the ing taken off my credit reports.


Uh you need to go back and re-read the quoted part. Were you issued a credit card? No. You were denied.

US Bank Cash+ -- Chase Freedom -- Citi Dividend -- Citi Double Cash -- AMEX BCE -- Discover It
Message 8 of 29
Valued Contributor

Re: Question about applying by phone

I don't believe you can get trouble. Most regulations are directed towards the practices of banks and other financial institutions, and not the actions of individuals. It is somewhat unreasonable for a person to know every law guiding financial activities, but it isn't unreasonable for a bank to understand the laws surrounding the practices for which they engage. 

 

Sorry to hear you we're denied. 


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 9 of 29
New Contributor

Re: Question about applying by phone


slippy84 wrote:

drewrico wrote:

slippy84 wrote:

drewrico wrote:

so is it illegal for an 18 year old to apply by phone?


Apparently

"Prohibition on issuance.—No credit card may be issued to, or open end consumer credit plan established by or on behalf of, a consumer who has not attained the age of 21, unless the consumer has submitted a written application to the card issuer that meets the requirements of subparagraph (B)"

http://en.wikisource.org/wiki/Credit_Card_Accountability_Responsibility_and_Disclosure_Act_of_2009/T...


 

 

so if a credit card company lets an 18 year old apply by phone what could be the consequences to the credit card company? I applied for chase freedom, denied of course, but i did it over the phone. I'm only 18 so i dont know if i can get in trouble or if I could possibly get the ing taken off my credit reports.


Uh you need to go back and re-read the quoted part. Were you issued a credit card? No. You were denied.


 

 

Was not asking for sarcasm, thanks...

 

but if there are laws that did not allow issuance of credit cards to people under 18 over the phone, or without a written application, why would the credit card company process the application and do a hard inquiry. 

Message 10 of 29