Q:

What is an online credit application form?

A:

Quick Answer

An online credit application form allows a consumer to ask a bank, retailer, credit card company or other entity for funds over the Internet, according to Discover. After examining the information on the application, the lender decides to approve or deny the request.

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Full Answer

Lenders ask for such information as the applicant's complete name, date of birth, Social Security Number and employment status. Income, current time at a position, housing status and whether or not the applicant has a checking or savings account are also questions on many applications. The lenders have frequently established automatic parameters so that the decision can take place online in a matter of minutes, notes Discover.

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