Credit Application

What is a credit application?

Credit Application Definition: A credit application refers to a process by which a company or an individual applies for a product such as a loan, credit card, line of credit, or an account where they can purchase items with a promise to pay in full at a later date.

Businesses that buy items regularly through vendors may qualify for the credit, which allows them to purchase office supplies, equipment, and materials for a store or business location on credit. A credit application can be completed in writing, online, or orally, based on the nature of the agreement and the relationship between the parties involved.

The application process often includes the need for additional documents based on legal requirements. Most applications for credit products are completed online, which is one of the fastest ways to review information from potential borrowers.

Aug 13 - Comparewise Personal Loan Banner

Other credit report terms:

Credit Report Help Centre:

BlogBrandsCards
How to Avoid Car Loan Debt
How To Shop For A Car In Canada
How To Save On Car Financing
How To Lease A Car
ShortPixel
QuickBooks
Outgrow
Oribi
Silver Gold Bull
Mogo
Melio
MarketerHire
National Bank World Elite Mastercard
National Bank Syncro Mastercard
Capital One Low Rate Guaranteed Mastercard
American Express Aeroplan Card

comparewise

Didn’t find the information you were looking for?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!