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Bank retention of applications for credit cards
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Posted by orange dog
(150.159.224.8) on August 23, 2002 at 10:32:02:
Does anyone know if there is a general "rule" (for lack of a better term) or practice on how long credit card issuers (Citibank, Fleet, Chase, etc.) retain their original CC applications? I've noticed that in almost every case that asset accet. corp files, they state that "the original application has likely been lost or destroyed" by the original creditor. Do they usually destroy their old applications after x number of years from the time of charge off or the closing of the account? Also, are photo copies (from microficsh) of the signed application admissable as evidence, or is the original app with the original signature the only thing that can be used in court?
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