how long do we keep applications on file?
How long do we have to keep credit applications on file for rejected customers under the Equal Credit Opportunity Act? Answer: According to section 202.12 creditors must retain applications for 25 months for consumers and 12 months for business credit applications. The âclockâ on retention begins on the date that a creditor notifies an applicant of action taken on an application or of incompleteness. Web.