Jamie is 19 years old and wants to apply for a credit card in the same bank where he is an account holder. In the context of the Credit Card Accountability, Responsibility and Disclosure Act of 2009, Jamie must:
A) provide proof of his sources of income every three months to prove his repaying ability.
B) have his parents or guardians cosign the credit card application.
C) submit legal papers of his family assets to satisfy credit card application requirements.
D) provide proof that he does not have accounts in other banks.

Question

Quizplus · Accepted Answer

The Credit Card Accountability, Responsibility and Disclosure Act of 2009 requires individuals under 21 to have a cosigner or show proof of sufficient income to obtain a credit card.

Jamie Is 19 Years Old and Wants to Apply for a Credit