Update Tenant Credit Info during occupancy?

[Lois S.]

I received a notice of changes to a credit card account, which includes a statement that 

"the issuer may, from time to time, obtain employment and income data from third parties to assist us in the ongoing administration of your account."

This seems like a good statement to add to my rental application form, with a statement that applicant consents  to this practice by signing the form.

Does anyone do this and would it be legal?