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Contributor
Posts: 83
Registered: ‎12-24-2012
0

Re: Question about applying by phone


drewrico wrote:

Didnt really answer my question but ok...


Oh whoops I thought you weren't asking for sarcasm

US Bank Cash+ -- Chase Freedom -- Citi Dividend Platinum Select (in 45-day wait period for Dividend Mastercard World EliteSmiley Happy) -- AMEX BCE
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: Question about applying by phone


drewrico wrote:

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. 


Here's some sarcasm!   Because banks don't go to jail for breaking the law! 

 

The law was changed because too many young people got into credit trouble from aggressive marketing of CC.  

 

 

New Contributor
Posts: 116
Registered: ‎01-02-2013
0

Re: Question about applying by phone


slippy84 wrote:

drewrico wrote:

Didnt really answer my question but ok...


Oh whoops I thought you weren't asking for sarcasm


 

 

Unfortunately my statement was taken as sarcasm, but it wasnt meant to be sarcasm... dot dot dot

New Contributor
Posts: 116
Registered: ‎01-02-2013
0

Re: Question about applying by phone


Wolf3 wrote:

drewrico wrote:

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. 


Here's some sarcasm!   Because banks don't go to jail for breaking the law! 

 

The law was changed because too many young people got into credit trouble from aggressive marketing of CC.  

 

 


 

 

Extremely unnecessary. I wasnt asking if they would go to *jail*. Was asking if they could possibly get fined or anything else. 

 

 

Established Contributor
Posts: 756
Registered: ‎01-20-2012
0

Re: Question about applying by phone

[ Edited ]

drewrico wrote:

 Was asking if they could possibly get fined or anything else. 



Honest question here;   Would you be asking this question if they had approved you or would you have kept quiet, accepted your card and started spending?

Would you have cared about it then, or are you just wanting them to get a slap on the wrist because you didn't get your card?

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: Question about applying by phone


drewrico wrote:

Wolf3 wrote:

drewrico wrote:

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. 


Here's some sarcasm!   Because banks don't go to jail for breaking the law! 

 

The law was changed because too many young people got into credit trouble from aggressive marketing of CC.  

 

 


 

 

Extremely unnecessary. I wasnt asking if they would go to *jail*. Was asking if they could possibly get fined or anything else. 

 

 


They could get fined.   Fines are often so low as to be a slap on the wrist.

Frequent Contributor
Posts: 346
Registered: ‎02-01-2012
0

Re: Question about applying by phone


drewrico wrote:

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?


Honestly, don't stir the pot and create trouble. You never know how good their memory is and once you have established credit and you would like one of their products it may just come back to bite you. 1 inq doesn't matter so if you are trying to establish credit history simply move on and come back here for advice as to which cards you should apply for/qualify for Smiley Wink

New Contributor
Posts: 116
Registered: ‎01-02-2013
0

Re: Question about applying by phone

I was just trying to see if i could get the inq taken off because i didnt get approved. either way it goes, one less inq would be nice.

New Contributor
Posts: 116
Registered: ‎01-02-2013
0

Re: Question about applying by phone

Main reason im asking this is one of two reasons.

 

1. if i could possibly call them and say im 18 and instead of paying a fine, see if they would rather extend a credit line to me. 

 or 

2. if no credit line, get the inq taken off credit reports via dispute.

Established Contributor
Posts: 756
Registered: ‎01-20-2012
0

Re: Question about applying by phone


drewrico wrote:

I was just trying to see if i could get the inq taken off because i didnt get approved. either way it goes, one less inq would be nice.



At 18yrs old, how many inq's do you have right now?   How did you apply for the other cards (if their are other inqs) was it online/in writing etc

 

Have you been added as AU on any of your parents cards?

 

Any open TLs on your report, student loans etc? 

 

Have you looked into getting a secured card to start out with instead?

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
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