need advice: How can housewives get credit cards?

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seashell
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need advice: How can housewives get credit cards?

Postby seashell » Mon Jan 09, 2017 9:01 pm

Can a housewife get a credit card? If so, how? Can she count her husband's income toward "household" income or can her husband somehow co-sign for her so she can qualify? I know that wives can be authorized users on a husband's credit card, but what if she would like to apply for her own card? What is the best way to do so? Any advice or feedback would be greatly appreciated. Thank you!

FinanceGeek
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Re: need advice: How can housewives get credit cards?

Postby FinanceGeek » Mon Jan 09, 2017 9:07 pm

My wife is a SAHM. Over the years, she and I have applied for several credit cards as joint applicants, listing my salary income under the part of the application that asks about "household income". Got approved no problem, we each received cards, and the payment history shows up on both of our individual credit histories.

RudyS
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Re: need advice: How can housewives get credit cards?

Postby RudyS » Mon Jan 09, 2017 9:16 pm

My wife is retired, and so am I. I have great credit score (810). She went to CreditKarma to get her score - also 810! We thought it would be good for her to have a card in her own name. She applied through that site, got approval for a chase card in minutes with a huge limit. Kind of surprised.

seashell
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Re: need advice: How can housewives get credit cards?

Postby seashell » Tue Jan 10, 2017 12:09 am

Thanks so much for your replies! Much appreciated.

BW1985
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Re: need advice: How can housewives get credit cards?

Postby BW1985 » Tue Jan 10, 2017 12:43 am

Yes, for income you use household income.
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

*3!4!/5!
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Re: need advice: How can housewives get credit cards?

Postby *3!4!/5! » Tue Jan 10, 2017 4:24 am

BW1985 wrote:Yes, for income you use household income.
... even if the card is only for the non-working spouse.

Drew777
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Re: need advice: How can housewives get credit cards?

Postby Drew777 » Tue Jan 10, 2017 8:17 am

*3!4!/5! wrote:
BW1985 wrote:Yes, for income you use household income.
... even if the card is only for the non-working spouse.


Yes. As long as someone can pay the bills they don't care where the money comes from.

BW1985
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Re: need advice: How can housewives get credit cards?

Postby BW1985 » Tue Jan 10, 2017 9:49 am

*3!4!/5! wrote:
BW1985 wrote:Yes, for income you use household income.
... even if the card is only for the non-working spouse.


When you're married it can't be for only one person. It's marital income and marital debt.
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

seashell
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Re: need advice: How can housewives get credit cards?

Postby seashell » Tue Jan 10, 2017 8:57 pm

Thanks all. Really appreciate your replies.

munemaker
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Re: need advice: How can housewives get credit cards?

Postby munemaker » Tue Jan 10, 2017 10:32 pm

BW1985 wrote:
*3!4!/5! wrote:
BW1985 wrote:Yes, for income you use household income.
... even if the card is only for the non-working spouse.


When you're married it can't be for only one person. It's marital income and marital debt.


When I try to make a phone inquiry on my wife's account, they won't talk to me. To me, that means the account is for only one person.

guitarguy
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Re: need advice: How can housewives get credit cards?

Postby guitarguy » Wed Jan 11, 2017 12:19 pm

munemaker wrote:
BW1985 wrote:
*3!4!/5! wrote:
BW1985 wrote:Yes, for income you use household income.
... even if the card is only for the non-working spouse.


When you're married it can't be for only one person. It's marital income and marital debt.


When I try to make a phone inquiry on my wife's account, they won't talk to me. To me, that means the account is for only one person.


At most companies you can set yourself up to be able to inquire on her behalf with a quick phone call (from her).

guitarguy
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Re: need advice: How can housewives get credit cards?

Postby guitarguy » Wed Jan 11, 2017 12:20 pm

RudyS wrote:My wife is retired, and so am I. I have great credit score (810). She went to CreditKarma to get her score - also 810! We thought it would be good for her to have a card in her own name. She applied through that site, got approval for a chase card in minutes with a huge limit. Kind of surprised.


FYI, Credit Karma is not a good indicator of scores.

e5116
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Re: need advice: How can housewives get credit cards?

Postby e5116 » Thu Jan 12, 2017 8:20 am

BW1985 wrote:
*3!4!/5! wrote:
BW1985 wrote:Yes, for income you use household income.
... even if the card is only for the non-working spouse.


When you're married it can't be for only one person. It's marital income and marital debt.


Note that this was not the case from 2009-2014. Non-working spouses were having trouble getting credit cards because they couldn't put spouse's income on their applications and credit card companies largely eliminated "joint" cards (could still add authorized user, but that user isn't counted when evaluating credit worthiness). A law change in 2014 however changed things so that spouse's can once again list spousal income.

http://millionmilesecrets.com/2014/01/0 ... rds-again/

SouthernCPA
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Re: need advice: How can housewives get credit cards?

Postby SouthernCPA » Thu Jan 12, 2017 5:31 pm

My wife isn't a housewife (she works full time), but she is an authorized user on my card accounts and they issued her a card in her name. Credit reporting wise, it's all still on me though as her credit wasn't even used to open the account.

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Re: need advice: How can housewives get credit cards?

Postby LadyGeek » Thu Jan 12, 2017 8:37 pm

This thread is now in the Personal Finance (Not Investing) forum (credit card).
To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

Wellfleet
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Re: need advice: How can housewives get credit cards?

Postby Wellfleet » Thu Jan 12, 2017 9:24 pm

One spouse should never hold all the financial cards so stay at home spouse should certainly have accounts in their name in the event that they need their own credit at some point.

An example for me was that I got married my spouse and I used my credit cards because they had better rewards. When we checked our scores a couple years later my score was much higher so we had her open a few cards to balance things out.


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