Puerto Rico Credit Application

State:
Multi-State
Control #:
US-134-AZ
Format:
Word; 
PDF; 
Rich Text
Instant download

Description

This form is a business type form that is formatted to allow you to complete the form using Adobe Acrobat or Word. The word files have been formatted to allow completion by entry into fields. Some of the forms under this category are rather simple while others are more complex. The formatting is worth the small cost.

How to fill out Credit Application?

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FAQ

Visa and MasterCard are accepted most widely throughout Puerto Rico.

Since the average household in Puerto Rico consists of less than three children, few families could receive any benefit at all. Now the credit is available to families in Puerto Rico beginning with their first child. They can claim it by filing form 1040, the federal income tax form.

Puerto Rico residents can apply for Chase's consumer and business credit cards if they're age 21 or older.

You can't get your own credit card if you're under the age of 18. But you can become an authorized user (more on that below). Even after you turn 18, the Credit CARD Act of 2009 states you'll need to have either proof of independent income or a cosigner over the age of 21.

You can get a credit card at 14 as an authorized user, but you have to be at least 18 years old to open a credit card account in your own name. When you turn 18 years old, you'll also need to show that you have your own independent income in order to qualify for your first credit card account.

No, you cannot get a credit card at 15. Anyone under the age of 18 is prohibited from entering into a legally binding contract such as a credit card agreement. But there are some credit cards that permit minors to become authorized users on a parent or other adult's credit card account.

Standard & Poor's credit rating for Puerto Rico stands at D with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Puerto Rico thus having a big impact on the country's borrowing costs.

Some, like Capital One, Chase, Citibank and Wells Fargo have no minimum age, while American Express and Barclays require authorized cardholders to be at least 13 years old. Discover has a minimum age of 15, while US Bank's requires authorized cardholders to be 16.

Residents of Puerto Rico now can receive the same Child Tax Credit benefit as residents of the 50 States and the District of Columbia. The American Rescue Plan, signed by President Biden in March 2021, expands the Child Tax Credit to get more help to families in Puerto Rico.

If you are a bona fide resident of Puerto Rico during the entire tax year, you'll file the following returns: A Puerto Rico tax return (Form 482) reporting your worldwide income. A U.S. tax return (Form 1040) reporting your worldwide income.

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Puerto Rico Credit Application