Can a living trust apply for a credit card?
Can a living trust apply for a credit card? Assistant at Ascent Law LLC Assistant at Ascent Law LLC One of the most common questions I hear is, "Can a living trust apply for a credit card?" In order to understand why this question is asked so often, it is necessary to understand the difference between a revocable trust and an irrevocable trust. A living trust is a legal document that offers a degree of protection in case you become incapacitated or die without a will. It can be an important thing to have, but it's not the same as, say, signing up for a line of credit at the bank. So, can you apply for a credit card with a living trust? The short answer is no. A credit card requires that your identity and credit history be verified by the issuing company. That doesn't mean you can't use your living trust to access some lines of credit—it just means that applying for a line of credit isn't the same system as applying for a credit card (and even if it were, you...