Question

Why do you think the credit card company wants the employer’s name and phone number

Answer 1

The credit card company may ask for the employer's name and phone number for verification, contact information, and identity verification purposes.

Step-by-step explanation:

The credit card company may ask for the employer's name and phone number for several reasons:

1. Verification: The company wants to verify the employment status and income of the credit card applicant. This helps them assess the applicant's ability to repay the credit card debt.
2. Contact information: In case the applicant defaults on their payments, the company may need to contact the employer to discuss repayment options or garnish wages in accordance with legal procedures.
3. Identity verification: By contacting the employer, the credit card company can confirm that the applicant's identity is legitimate and that they are not using false information.

Providing the employer's information helps the credit card company make informed decisions and minimize financial risks.