A credit application is a standardized form that a customer or borrower uses to request credit. The form contains requests for such information as:
- The amount of credit requested
- The identification of the applicant
- The financial status of the applicant
- The names of credit references
- Standard boilerplate terms and conditions
The credit application form is issued by a supplier orcredit rating agency and information received from the credit references supplied by the applicant.lender with the intent of standardizing the information it uses to make credit decisions. Additional information may be used in making a credit decision, such as a credit report from a
Based on the information in a completed form, a credit analyst may elect to grant or deny credit, or may impose additional conditions, such as a personal guarantee or collateral.