No job, should I even bother?

[Anonymous]

I am debating whether I should apply for a new card or not. I recently left my job and have no income at the moment. I just got out of 5/24 hell and am looking to get a new chase card!! Scores are between 800-815 depending on bureau. Total CL is 67,000 and 19000 of that is on my chase freedom. I have a small checking account with chase but the rest of my money is with another bank. I’m fearful that if I apply with no income that I won’t only be denied, chase might be spooked by their 19k exposure to me and lower the CL. Does anyone have any experience with this? I’ve been with chase for about 2 years and depth of credit is 10 years with AoA of 4, utilization is <2%. Thanks!

[Brian_Earl_Spilner]

First, why would you want to apply to borrow money if you have no job? Second, it will most definitely spook chase as income is a huge factor for them.

[rbentley]

I can easily see how you might want to borrow money if you had no income.  You need money to survive.  That being said, going into debt is rarely the answer, especially if you don't have a realistic means of paying it off.  I fully agree that disclosing no income would severly "spook" a prospective creditor.

[Pikaboo-icu]

Welcome to My Fico... 

No offense but unless you have one heck of a savings, I would be filling out job apps not credit cards.

Why don't you reward yourself with a new Chase card after you get a new job. That way you have something to look forward to and wont spook them into AA. 

CHEERS

[Meanmchine]

I agree with the above posters but you came here for advice and not a sermon

Try another bank besides Chase.  Synchrony bank relies very heavily on score so you might be able to pass the application scrutiny. 

Try the prequal sites

[pipeguy]

I suspect you will have a problem when you get to the question as to gross annual income on the card application or ANY credit application. I would suggest that your best course of action is to wait for the answer to that question to not be $00.00 before applying for a new credit card - note too that if you answer that question falsely and subsequently "default" this could be cause for an act of fraud, not just a debt collection.  

I would strongly advise that now is not the time to be applying for new credit of any kind, at least until you secure employment first (or hit the lottery).

[Anonymous]

Do not poke the bear!

Wish the best for you.

[Cookiegrabber]

I'm not judging, there are tons of reasons you may not have a job atm. Been there!

I also wouldn't apply now if at all possible, as having no job is an automatic denial at post-college age, and lying on an application is serious stuff. At <2% util you're probably not super strapped for cash yet, so I'd try to hang in there with what cash/savings/credit you have while you try to get things normalized.

If it's a serious medical issue you're having that could cost tons of $$$, I'd also advise comparing costs with Asian countries, as the trip + hospitalization + treatment could end up far cheaper than the big hospital nearby. The Philippines, Thailand, Hong Kong, Korea, and Japan all have some big advanced hospitals that can take international patients at much more sensible prices than in the US.

[Anonymous]

Thank you all for the advice and concern. Unfortunately I have been without a job since February and have run out of savings. I am looking toward a new card to benefit from the signup bonuses since I am going to have to start putting living expenses on credit. Might as well be earning more on my spend if I am going to be paying the interest anyway, no? Is it definitely an auto denial? I’ve got good credit and good relationships with the banks I’ve done business with. I would think they’d jump at the chance to make some interest $ off me for once!

[Pikaboo-icu]

Your scores, history & uti as posted are all great for approval but one of the things lenders look at is income.

The box is there, you'll have to put something in it. Right now, it's zero and legally you need to enter zero.

One of the things you asked about (or technically expressed concern over) is AA from Chase.

You may get approved- but if you don't or even if you do, you need to be very wary of informing Chase you have no income at the moment.

By apping for a new card, you're volunteering that up- just sayin'.

It's all up to you- we're just giving our opinion and as you know, everyone has one. lol

GOOD LUCK, whatever you decide to do.