When you apply for a credit card, you can list income of your spouse as your income if you have access to that money on a normal basis. You may qualify for non-secured cards that place substantial emphasis on income based determinations.
Prior to the Card Act of 2009, you could only put down income on a credit card application that was your own (i.e., money that you independently earned). That often made it difficult or impossible for spouses who didn’t work to get their own credit card accounts. The Credit Card Act of 2009 broadly requires credit card companies to take “the ability of the consumer to make the required payments” into account when deciding whether to approve an application.
A 2013 amendment added by federal regulations surrounding the Card Act expanded the definition of one’s ability to pay so that people 21 and older can include any income to which they have a “reasonable expectation of access.” This can include income from a spouse, partner or other member of your household. It can also include non-wage income, such as savings, trust fund distributions, unemployment compensation and others, provided you have reasonable expectation of access.
The law now specifies that your spouse’s income is as good as your own independent income when it comes to applying for a credit card.
You need not inform them that you are a stay at home mom with no independent income.
