A credit application is a request for an extension of credit. The information on the application, such as credit score, credit history, and debt to income ratio, is used to determine the borrower’s ability to repay the loan. Lenders will use an applicant’s Social Security Number to check their credit score. Most lenders look for a score of 650 or higher when deciding whether or not to extend credit to an applicant. You can check your own credit score on sites like Credit Karma. Lenders will also consider the applicant’s debt to income ratio or the amount of debt the applicant has to the amount of income they make. Most lenders look for debt to income ratios of 35% or less. What’s the process like to apply for a credit card? Usually, you’ll have to provide your name, birth date, address, Social Security number and annual income. As long as you’re over 21, you can submit your household income, including income from your spouse, partner or other family member, or non-wage income (savings, trust fund distributions, unemployment compensation). If you are younger than 21, you must have your own income. Want to apply for a personal loan? Lenders may ask about your housing payments, whether or not you own your home, and the name of your employer and how long you’ve worked there. They will also check your credit score.