Creating An Application Form That Needs to be Completed & Then Returned by E-Mail

Yes. You can add form fields and a Submit button to send the completed form back to you.

As mentioned above, though, you should consider if a file attached to an email is the appropriate way to get this information, especially if it's sensitive.

Email is not appropriate, if I understand "prospective card holders". This is personal info, you are potentially exposing yourself to very large fines. You must have a professionally set up https based web system.