Saturday, February 24, 2024

Applying For Credit Card Unemployed

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A Job Is Not A Prerequisite For A Credit Card

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The good news is that most credit card applications typically will only ask for general information about your employment, this means youll have to choose from titles like student, homemaker, government worker, self-employed or unemployed. There will probably be a section that asks for your employers information but most will allow you to leave it blank if you do in fact have no employer. You may get lucky and your application wont require any information about your employer at all. Keep in mind though that you are legally required to be honest and fill in the application with all the correct information.

Listing Someone Elses Income

If youre an adult over age 21, you can use someone elses income on your credit card application if you can reasonably expect to have access to that income to pay your bills. For example, if your spouse regularly transfers a certain amount of money to your account, you can use the amount thats transferred as your income. Or, if you have shared an account with someone else and have access to all the funds, you can use the regular deposits as your income.

You can’t use someone else income if that person doesn’t regularly transfer money to you and you do not have joint access to an account with them.

How To Handle Credit Card Debt When Youre Unemployed

Here are a few ways you can manage your credit card debt when youre unemployed:

  • Talk to your credit card company. Contact your credit card issuer to see if itll work with you, especially if youre struggling to make the minimum payments. It may be willing to defer payments or reduce your interest rates temporarily, especially if you have a positive payment history.
  • File for unemployment. If you were let go from your job, you might be able to file for unemployment. These benefits typically pay a percentage of your previous wages, though the exact amount will depend on where you live. Visit the Department of Labor website to look up unemployment benefits in your state.
  • Free up money. You can also look for ways to minimize other budget items to put more money toward your credit card debt. For example, you could cancel subscriptions that you no longer use and put that money toward your credit cards instead.
  • Look for temporary income. Try to find ways to bring in some supplemental income that you can put toward your credit cards. For example, maybe you could take on a part-time job or drive for a rideshare company while you look for more permanent work.

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Become An Authorized User On Someones Credit Card

A friend or family member can make you an on their account. Youll get a card with your name on it thats linked to their account. They will be responsible for making the payments. You can work out an agreement with them to decide on a spending limit and payment plan. Stick to the plan to avoid hurting the primary cardholders credit score. You’re now tied to their credit score, so it could affect you, too. Some card issuers report an authorized user’s credit activity to credit bureaus.


In recent years, several so-called “alternative credit cards” have come to market, advertising nontraditional underwriting policies to assess creditworthiness . While these cards may be good options for those with limited or no credit, you’ll still have to meet income requirements, as you would with traditional credit card issuers.

Become An Authorized User

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Becoming an on someones credit card account can help you build your credit score, while accessing someone elses line of credit. As an authorized user, you will have access to a credit card through the primary cardholder. Before you do this, take some time to learn how being an authorized user affects your credit.

While youre not legally obligated to pay any balances on the credit card, you will likely have an agreement with the primary cardholder about how payments need to be made. You should make sure the primary cardholder is responsible about making payments on the account in full and on time. You wont be legally obligated to pay, but missed payments could negatively affect your credit score.

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Become An Authorized User On Someone Elses Card

Potentially the easiest way to get access to a credit card without having any income, becoming an involves convincing a friend or family member to add a user to their own card. Having income is not a requirement to be an authorized user. The authorized user gets their own credit card with their name and information on it, but the person who owns the account is responsible for all payments. If the authorized user spends more than agreed to or doesnt pay everything back, it puts the account holder at risk . For that reason, its advisable to come up with a responsible spending limit and a payment plan with the account holder.

What To Report As Income For Stay

An amendment to the Credit CARD Act in 2013 made it possible for stay-at-home spouses and partners to qualify for credit cards. Based on this, credit card companies consider household income when a stay-at-home spouse/partner over 21 years of age applies for a credit card. Other than the income of your spouse or partner, you may also include:

  • Income from independent or part-time work
  • Alimony and child support payments
  • Gifts and allowances
  • Military or public assistance payments

Select a credit card based on which one you stand to qualify for more easily, and take advantage of our ranking methodology to zero in on the best alternative.

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Apply For Unemployment Benefits And Other Government Assistance

If you qualify for jobless benefits, apply for them.

Food stamps and school lunch assistance can also save money that youll need for other critical expenses. Though many of us resist seeking government help, if you have a genuine need, remember that the programs were designed to help people like you navigate rough patches.

Avoid taking cash advances or signing up for financing plans during your time out of work and avoid using your credit cards, especially if you have unpaid credit card debt.

List Household Income If Appropriate

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Remember that credit card companies just want to see that youll be able make payments on your card, even if that money comes from a spouse. As long as you have access to money to pay your balance, you can generally list your spouses income or combined household income on your credit card application.

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Is It A Good Idea To Get A Credit Card If Im Unemployed

While you can find a credit card for unemployed applicants, that doesnt necessarily mean you should apply for it. If youre having trouble paying bills, for instance, adding on yet another bill may not be ideal.

Plus, carrying a balance on a credit card from month to month means fees stack up pretty quickly. And if you fall behind, youre hit with late payment fees and credit score damage.

On the other hand, sometimes credit cards can help without adding to the problem. For example, if your non-employment income only comes in once a month, but you need to make purchases in the meantime, a credit card for unemployed consumers could be useful.

The important thing is to make sure you can pay off the balance before the due date every month. If youre unsure whether youll keep up with credit card payments, a card may not be a good decision. Only you can decide whether or not its a good idea for you to get a credit card without income.

Apply For A Joint Card

You can apply for a joint credit card with your spouse or a loved one. When you apply with someone else, your income and job status will be considered but it may not matter if your co-applicant is in a very good financial position. Just keep in mind that if you go this route, you and your co-applicant will both be liable for credit card payments. You can also apply for a card with a co-signer if you want your own account but youd like to get approved without a job.

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Best Prepaid Cards With No Employment Check

Prepaid cards operate on credit card networks, but not every card includes a line of credit. Depending on your credit history, a lender might limit you to a debit card that allows you to make direct deposits of your paycheck or another source of income.

Variable Monthly Fee Not applicable

The Pink Netspend® Visa® Prepaid Card has two cardholder plan types: monthly and pay-as-you-go. With a pay-as-you-go plan, you pay $1.95 every time you use your card. The monthly plan charges a varying fee that can be waived with qualifying direct deposits.

Can You Apply For A Credit Card Without A Job

Apply for Unemployment

Yes, you can definitely apply for a credit card without a job but youll usually need to have a source of income from somewhere else. Credit card issuers simply want to ensure you have the means to pay back any balance accrued on your card. So as long as you can prove that you have access to enough money to pay your card balance, you should be eligible to apply for cards.

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Best Secured Cards With No Employment Check

If youre working to rebuild poor credit after making a few mistakes, you may have to turn to a secured credit card to get back on track. These cards typically require a refundable security deposit that matches your credit limit. Other than that, a secured card works exactly like its unsecured brethren.

$35 Poor

Not only does the OpenSky® Secured Visa® Credit Card not require an employment check, but its one of the rare secured cards that doesnt even require a credit check. OpenSky® will set your credit limit equal to your refundable deposit. It comes with a competitive interest rate but does charge a small annual fee.

Can You Get A Credit Card With No Credit History

You may be able to get approved for a credit card with no credit history however, credit card approvals are at the card issuer’s discretion. If you apply for a credit card with no credit history or limited credit history, you will likely need to provide proof of income or other documentation. Becoming an authorized user on a family member or friend’s credit card account can be a great way to build your credit just make sure that you both work together to ensure payments are made on time each month. You may also want to consider applying for a secured credit card that caters to consumers with limited or no credit history.

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What Qualifies As Income

Your income does play a part in your credit application, but income is not just the paycheck you receive from a job. Income may be more loosely defined as any money you receive consistently.

This means there are other forms of income you can provide to help you qualify if you are currently unemployed. The 2009 Credit CARD Act allows anyone over the age of 21 to list any income to which they will have reasonable expectation of access, including income from your spouse or partner, funds accessed through a shared account and unemployment benefits. If you have investments, those returns may count towards your income. And if you receive Social Security payments, those can be included, as well.

Having A Job Is Not A Credit Card Requirement

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Many credit card applications only ask for generic occupation or employment and income information. You may simply have to choose whether youre a student, government worker, homemaker, self-employed worker, or unemployed.

Some applications may ask the name of your employer, but allow you to enter None if you dont have an employer. You may find that some applications do not ask for employer information at all. If employment information is requested on the credit card application, youre legally required to answer the information honestly.

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What To Put As Income On Credit Card Applications

Much of the income you may include on a credit card application remains largely the same, although some sources might apply to specific demographics. For example, only applicants over 62 years of age may include Social Security retirement benefits in their applications because people dont receive this support any sooner.

Remember that lying about income on a credit card application is a crime that can come with steep penalties and jail time. However, as long as your income comes from a legitimate and verifiable source, you may include it in your application. Credit card issuers accept income from various sources, which include, but aren’t limited to:

  • Income from any form of self-employment
  • Income from part-time/temporary work
  • Your spouses/partners income
  • Alimony and child support payments
  • Residual student financial aid
  • Withdrawals from retirement savings accounts

Bear in mind that those under 21 must show that they earn adequate independent income to repay their debt. Further, students may not include borrowed money or funds they receive through student loans as income. For adults, its important that you dont include garnished wages that go toward making alimony or child support payments.

You Can List Alternative Income Sources On Your Application

Employment income is an obvious illustration of your ability to pay your credit card bills. But if you don’t have a job right now, there are other forms of qualifying income that you could include.

Forms of non-wage income you can list include:

  • Your investment returns
  • Public assistance
  • Retirement distributions

If you have lost your job and you are collecting unemployment compensation, you can also count your unemployment benefits as income on your next credit card application. Because unemployment benefits are taxable, the IRS considers it to be income which means typically credit card issuers do, too.

The Consumer Financial Protection Bureau states that card issuers must consider “the consumer’s ability to make the required minimum periodic payments under the terms of the account based on the consumer’s income or assets and the consumer’s current obligations.”

This means card issuers are required to verify your ability to make payments, but you can list any of the above forms of income you are currently receiving. It’s not likely that the card issuer will ask for you to provide proof of income, such as tax forms, unless you are a young borrower. But the best practice is to be honest so that your credit limit is appropriate. You’ll want to make sure you can afford the minimum payments and stay out of debt.

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Improve Your Credit Rating With An Ocean Credit Card

You can use our card to help rebuild your credit score by making regular repayments on time and staying under your limit. Not using your card responsibly, however, may harm your credit score.

  • Up to £1,500 credit limit
  • Quickcheck won’t impact your credit rating
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What Happens If You Cannot Pay Credit Cards

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Paying your credit card bills on time may lead to additional late fees, lower interest rates, and credit rating damage. Several options could be used by the collector, including garnishing wages if you fail to pay, freezing your card, pursuing collection agencies, and selling the debt to collection.

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Applying For A Credit Card While Unemployed

You report your income and your rental/mortgage costs when you apply. So if you report no income, you’re not going to be approved. They aren’t usually in the business of giving out credit cards if they know you can’t pay them back!

Also regulation. CARD act requires banka to ask for income for ability to repay. If you have no income stated you will be declines by any bank in the US

Maybe with a cosigner with decent income. Expect a secured credit card like 500 dollar limit.

Ive gotten a cc while between jobs. If you were employed last year, it wouldnt be unreasonable to report last years earnings as your income. Not saying its a good idea to take on debt while unemployed, but getting approved for a card is totally doable.

This is fraud. They don’t ask for last year’s earnings. They want to know what you’re making now. They ask for your current employer. Go into default after lying on an application and you can end up with more problems.

Since I cant seem to reply directly to the fraud comment:

Bogdan Roberts Credit Cards Moderator

The best credit cards for unemployed people are secured credit cards like Bank of America® Unlimited Cash Rewards Secured Credit Card or Capital One Platinum Secured Credit Card. You dont need a job to get a credit card, but credit card companies are required to make sure you have enough income to pay your monthly bills. And most peoples incomes take a big hit when unemployed. So it makes sense to go for secured cards, since they offer the easiest approval of all credit cards.

Its important to note, though, that if youre receiving any kind of unemployment pay, you can report that as income on your credit card application. The same goes for money that comes from other non-job sources, like gifts, trust fund distributions and scholarships/grants. If youve built up good credit and still have a reliable source of income without a job, you can apply for a cash back credit card like Citi Double Cash Card.

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