Impact to FICO score of applying for new credit card while unemployed

[Anonymous]

Hi, all.  First time posting.  I'm currently unemployed and have a good FICO score over 750.  I would like to apply for another card to take advantage of an offer and to increase my available credit.  Will applying require me to disclose that I am unemployed and will that negatively impact whether I am approved, and, more importantly, my credit standing with other card companies and my current FICO score?

Thanks!

[Anonymous]

The card application is going to ask what your current yearly compensation is... if you're putting a zero into this field I don't see how they'd give you a card?  Then again... college kids with no credit or job can get one...

[Jazzzy]

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@Anonymous wrote:

Hi, all.  First time posting.  I'm currently unemployed and have a good FICO score over 750.  I would like to apply for another card to take advantage of an offer and to increase my available credit.  Will applying require me to disclose that I am unemployed and will that negatively impact whether I am approved, and, more importantly, my credit standing with other card companies and my current FICO score?

Thanks!

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Hi...and welcome.

Sometimes you can apply using household income. Are you single? Live with anyone? Some credit card companies ask you to prove income by faxing in pay stubs, so don't try to improvise on income.

I'm a grad student, so right now we apply using household income.

[marty56]

In order to save an INQ, I would contact the CCC and ask them what they require in income verification.  Instant store cards seem to go just on FICO scores (Target gave DW a 7500 card) but IMHO a high limit Visa/MC card would require you to give your annual income and possibly how long you were at your current job.

Not to pry but why are you trying to increase you availbale credit?  What is your short term goal here.

[Anonymous]

Thanks, all, for the quick feedback.  This is a great forum that I will use again.

I'm wanting to increase available credit because BofA lowered my CC limit by 50% in mid 2009 (they did it to my father-in-law, too; we weren't using much of our available lines).  I'd like to keep a good FICO score and I understand that CC utilization is important.  I also am learning that the average amount of time that you have had all your cards is another measure; getting a new card would impact that.   So, I'm going to stay put, continue to manage my cards well, and consider building up more available credit once I get a job.  

Thanks!