Billing Addresses & College Students

[simplynoir]

I'm probably over-thinking this but going to ask anyways to be sure

One of my younger sisters applied for a credit card earlier this week. She used our parent's house as her home/billing address, but she plans to live where she's going to college at at another city for the next two years at the minimum. Do new apps AND current cards she and my other sister are holding need to have their current living address on file or do bank not care? If it matters they changed the address on their driver's license to reflect their stay at condo they're living at right now

[FinStar]

They 'care' in the sense that any financial institution needs to have a verifiable address per Patriot ACT and KYC guidelines. So, in the event of an address viariance during an application, they would need to furnish proof of the address they used. If DL or other docs match to the condo or college location that should be fine.

[simplynoir]

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@FinStar wrote:

They 'care' in the sense that any financial institution needs to have a verifiable address per Patriot ACT and KYC guidelines. So, in the event of an address viariance during an application, they would need to furnish proof of the address they used. If DL or other docs match to the condo or college location that should be fine.

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Her DL reflects new home persay, all her credit cards show parent's address. Better to change it to match DL basically from what you're saying. Guess it couldn't be the worse thing to do especially with everything paperless already

[FinStar]

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@simplynoir wrote:

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@FinStar wrote:

They 'care' in the sense that any financial institution needs to have a verifiable address per Patriot ACT and KYC guidelines. So, in the event of an address viariance during an application, they would need to furnish proof of the address they used. If DL or other docs match to the condo or college location that should be fine.

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Her DL reflects new home persay, all her credit cards show parent's address. Better to change it to match DL basically from what you're saying. Guess it couldn't be the worse thing to do especially with everything paperless already

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Sometimes it can be tricky with dual residency, but not impossible so as long as the CRAs, LN, and other sources reflect both addresses on file. I sometimes run into those situations, but as long as there are docs that can prove identity and it's verifiable with docs like DL, utilities, vehicle registration, passport, or other official documents then it should pose no issues.

[simplynoir]

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@FinStar wrote:

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@simplynoir wrote:

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@FinStar wrote:

They 'care' in the sense that any financial institution needs to have a verifiable address per Patriot ACT and KYC guidelines. So, in the event of an address viariance during an application, they would need to furnish proof of the address they used. If DL or other docs match to the condo or college location that should be fine.

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Her DL reflects new home persay, all her credit cards show parent's address. Better to change it to match DL basically from what you're saying. Guess it couldn't be the worse thing to do especially with everything paperless already

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Sometimes it can be tricky with dual residency, but not impossible so as long as the CRAs, LN, and other sources reflect both addresses on file. I sometimes run into those situations, but as long as there are docs that can prove identity and it's verifiable with docs like DL, utilities, vehicle registration, passport, or other official documents then it should pose no issues.

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I was pretty sure it wouldn't be a big deal but I also didn't want their cards to run into trouble when they really needed them either like in an emergency for instance. It is why I had to ask be safe