Also, they can't really verify what you give them. Income verification is already "hopefully they aren't lying" for low-risk credit cards and "we have to call t

Also, they can't really verify what you give them. Income verification is already "hopefully they aren't lying" for low-risk credit cards and "we have to call their employer to verify this income" for high-risk loans like housing loans. Verifying this amongst dozens of auto loan departments and credit card operations, likely with different hours of operation, would be extremely labor intensive which is why everyone gets to pull applicant credit history from a central database to determine creditworthiness if they also contribute to that database.