Filling out a credit application is serious business and proper care needs to be taken to ensure all details are filled out clearly. The credit application form you filled out will directly effect on whether you will get a good financial product.A credit application is usually divided into several sections and each of these sections is discussed separately. All this sections should be carefully regard.

General tips

1. Fill all fields. The more details, the easier it is to get a credit approval.
2. Ensure no fictitious information is provided.
3. Make anything clarified before filling out.
4. Unless otherwise specified, fill all fields in bold, capital letters.

Personal information

This section will have the following fields: (i) Full name, including first and last names, middle name or initials; (ii) date and place of birth; (iii) name of father or spouse; (iv) current residential address with zip code; (v) permanent residential address (if different from the current address); (vi) telephone numbers – landline and mobile, home fax (if available); (vii) personal email address; (viii) highest educational qualifications; (ix) number of dependants; (x) type of residence and whether it is owned, leased or rented; (xi) number of years at current residence; (xii) details of identifying proof – driver’s license, passport or social security number and validity where available.

Work information

This section covers the following information: (i) Salaried or self-employed; (ii) name of the company/business; (iii) present designation/title; (iv) full address of the company/business with zip code; (v) telephone and fax numbers with extension, if any; (vi) official email address, if available; (vii) number of years at current employment; (viii) previous employment/business details (if current employment period is less than two years); (ix) declared income; (x) industry, segment or type of business.

Financial information

This section will usually have the following fields: (i) details of bank account – type, bank/institution where account is held, number of years and account number, debit card details; (ii) details of other financial products such as credit cards, loans, etc – account numbers, lending institution/bank, expiry dates on credit cards, credit limits or loan amounts and loan tenure.

While filling a credit application is often quite simple, you should ensure adequate care and caution is taken in filling out all the details as discussed here.