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by runako
1754 days ago
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A person may open a credit card at 18 and be given a limit of $2,000. That card may still be open 10 years later, when the issuing bank raises the limit to $20,000. Many banks do not even require attestation of income to raise limits like this. This is what I mean by no meaningful income verification. Income verification is what happens when you buy a mortgage. It has nothing in common with the credit card process. |
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