A credit card is required for many modern transactions, particularly when renting a car or booking a hotel room. Obtaining a credit card without a job is dangerous, especially if you have no income. However, some customers do have a regular consistent income, even if it is not from work.
Having a Job Is Not a Credit Card Requirement
Many credit card applications merely need a general occupation or work history, as well as income details. You may only have to select between being a student, a government employee, a housewife, a self-employed worker, or jobless. Some applications may ask for your employer's name, but if you don't have one, you can put "None." Some applications may not ask for any employer information at all. If job information is requested on the credit card application, you are legally obligated to provide truthful answers.Income Is More Important
Even if you are not required to input work information, the credit card application will ask for your total yearly income. You may include alimony, child support, or any other income that you like to be considered for repayment of your credit card amount. College students may be allowed to use any financial help remaining after covering their tuition in their income when applying for a credit card. To calculate your total yearly income, multiply weekly earnings by 52, bi-monthly earnings by 24, money received every other week by 26, and monthly earnings by 12.Listing Someone Else’s Income
If you're over the age of 21, you can include someone else's salary on your credit card application if you can reasonably anticipate to be able to pay your payments with that income. For example, if your spouse routinely transfers money to your account, you can deduct the amount transmitted as income. You can also use frequent deposits as income if you share an account with someone else and have access to all of the funds. You cannot utilize someone else's income if they do not routinely send money to you and you do not have shared access to their account.Get a Credit Card With Someone Else
Another option for acquiring a credit card without a job is to apply for one with someone else, either as an authorized user or as a joint account holder. You have the right to use the credit card as an authorized user, but no legal need to pay. When you are listed as an authorized user, your income and credit history are not taken into account. As a joint account holder, you have both the privileges and obligations that come with using a credit card. Your income and credit history are assessed alongside the other candidates when you apply jointly. However, if the other applicant has a sufficient income, you may be authorized for the credit card even if you do not.Try a Secured Credit Card
While secured credit card applications frequently inquire about your work and income, because you're providing a security deposit as collateral, you're more likely to get approved for one of these credit cards. For example, depending on your creditworthiness, you may submit a security deposit as low as $49 for a $200 credit limit with the Capital One Secured MasterCard. The more your security deposit, the greater your credit limit. Others may offer you benefits for using your credit card. Consider your capacity to repay the credit card bill carefully before applying for a credit card without first obtaining a job. If you are authorized for a credit card but lack the financial means to repay your charges, you will encounter credit problems: payments that are late, charge-offs, and debt collections stemming from your ability to repay.Frequently Asked Questions (FAQs)
How old do you have to be to get a credit card?
Minors cannot obtain their own credit card, but they can be added as an authorized user to the account of an adult. When you reach the age of 18, you may be allowed to obtain a credit card if you can demonstrate an independent source of income. Once you reach the age of 21, the restrictions governing credit card ownership loosen.How do you get a business credit card?
If you are self-employed and do not have a job, you may be eligible for a business card. Each credit card issuer determines whether your self-employed activity qualifies as a business, but you may improve your chances by establishing consistent revenue and boosting your business credit score.