Chosen by Asker

To check your credit.

by Kandy

2 years ago

Asker's Rating: 

A social security number is what credit bureaus use to identify an individual credit history. That's the way they can tell if you will pay on time, have any bankruptcies ect. You can't possibly get a credit card with out giving your social security number. Sorry!

by gingy gal- 2 years ago

All financial institutions will ask for you social security number. It is used to obtain your credit report and for security purposes.

by Inquisitive125- 2 years ago

Ain't you hate that!!! I think they should give you the card and get over with it. After all you didn't owe anything yet. I think Chase credit card need to trust people, so they can enjoy burn their card more. I agree with you.

by Hopeithelps- 2 years ago

they neerd your soc, as well as your adress and your date of birth to look at your credit history on a system known as the fico system. this system tells the banks and credit institutions anything you borrowed in your life on credit, and gives the pay histories and balances left on your c.c's and loans. it also shows monthly payments, and if you ever filed bankruptcy. this gives the credit card company an idea of how much of a risk you are!

by minesbay- 2 years ago

Because they are using it as identification. Every transaction that you make goes into your computer file, along with every other action you take when you give your social security number. It is all recorded. Do yourself a favor. Get rid of all your credit cards. You don't need them. They let you spend money that you don't have, and then charge you exorbitant interest. You can have fraudulent charges put against your card number. And you loose your financial privacy. All of your transactions are recorded, under your social security number. Use cash whenever you can. Otherwise, use a check.

by iraqisax- 2 years ago

Supposedly, the SSN is unique to you and you alone, which makes it an ideal identifer to index a database, if it were in fact unique. It isn't. Illegal immigrants get forged documents which result in duplicates. The credit agencies which keep track of your credit, use this number as the primary key identifier to keep records. By asking for other credit card information, they can check the record they get back and see if it is really you by validating other information in addition to the SSN so they have a reasonable assurance they have the correct record for you personally, instead of another with the same name out there. The Fed (IRS) also uses this number for tax purposes. Think about just using a name, "John Smith" for example. How many "John Smith's" are out there and how would you keep records for each which are separate and unique? The SSN is the best we have at the moment, however, the FED, Dubya and Co, are pushing for a national ID card (Dubya cites terrorists as to why) with biometric data embedded, the same also applies for passports by the way. At the moment, recent federal legislation has made it a mandatory requirement to have a passport to leave the country. I am not sure when this goes into effect, but soon, you will not be able to leave the country and everyone without a passport will in effect be a prisoner within the United States...

by rowlfe- 2 years ago

Your Social Security number is obviously another piece of sensitive data you should protect. It says right on the card, “not to be used for identification purposes”. You should never be asked for your social security number unless its for tax purposes or for credit purposes. Don’t be afraid to ask why someone is asking your for your social security number, or refuse to give it to them. There is a new scam going around where criminals already have your credit card number. The tricksters then call you posing as the credit card company, claiming there has been a security breach on your account number. Then they ask you to verify your 3 digit security code found on the back of the card. DON’T FALL FOR THIS ONE. A credit card company should never call you and ask you for personal information. read more from: www ...

by lacy k- 2 years ago