credit applications

Should Retailers Verify Customer Income Before Extending Credit?

Should Retailers Verify Customer Income Before Extending Credit?

One provision of the CARD Act requires credit issuers to verify income and debt load before issuing new credit, and the Federal Reserve is now looking at how to enforce that. That’s scaring retailers, who have come to enjoy the benefits of pushing “instant credit” offers at the register. [More]

9/11 Ruins Another Customer Experience

9/11 Ruins Another Customer Experience

Angela can’t get a new American Express card because Amex can’t verify her Social Security number. They have to verify it because of 9/11. Since they can’t, they’ve canceled her application. Because of 9/11.