cc with no income?

Discussion in 'Credit Talk' started by carl, Mar 19, 2001.

  1. carl

    carl Guest

    This is a question from a friend of mine (not a computer user)
    Is it possible to get a credit card that either requires no income or that doesn't check
    on income?
    He is AU on two accounts. On one account, its been 6 months
    On the other account its listed as 10 years, although he's only been on for 1 years.
    By Equifax, he's completely clean-no negatives , no nothing except the 2 AU accounts,
    all paid as agreed (no lates ever).
  2. Dani

    Dani Well-Known Member


    You give some really wonderful advice, but I have to disagree with you concerning the income issue. Even if the credit card companies do not verify income it seems dishonest. If the person applying for the card does not want to report their income it means either two things - 1)he/she has no income to report and therefore has no means to pay for the card or 2) they do not make enough to satisfy the credit card company's requirement of minimum income and still could not pay for the card. Offering my two cents worth. Feel free to disagree me. I just feel it is a moral issue.

  3. sam

    sam Well-Known Member

    Why would someone with no income want a credit card? Thats a sure way to get yourself in trouble. Now if you mean they have no "legal-verifiable" income, thats different.

    Say (just a whim, no offense) he's a drug dealer, he makes $50K a year but has does not file w-2's on his stuff. (again no offense just an example)

    He could legally and morally state he makes 50k/year to the credit application.

    99.9% of the credit cards out there do not verify your income. It is used to determine debt-to-income level, and qualifying credit line, once approved.
  4. Mike

    Mike Well-Known Member

    You can always mention the income from your spouse or any family members who are living with you. If you are a college student then you can mention your parent's income to help get approved. The key word here is TOTAL HOUSEHOLD INCOME, not necessarily individual income.
  5. carl

    carl Guest

    well, my friend is not a drug dealer. He lives with his girl friend, she works, he works on her fixer upper house. They've been doing this for 3 years. Hence he has no income.
  6. Dani

    Dani Well-Known Member


    I agree with Mike. Have your friend apply and report the Household Income as income. Many credit cards applications ask for that anyway. Best of luck to your friend. Do you know what credit cards companies he was considering?


    GEORGE Well-Known Member

    A lot of my credit was obtained when I was a "HOUSE-HUSBAND W/KIDS" (real income $0)

    I looked for applications that said "TOTAL GROSS HOUSEHOLD INCOME" !!!

    Now my oldest is working..."TOTAL GROSS HOUSEHOLD INCOME" went up...

  8. carl

    carl Guest

    suggested credit cards?

    Dani, I don't think he has any idea of which cards to apply for, except he wants them to pull Equifax (florida)
    And now I know to tell him to look for Household Income.
    Any suggestions? I'm a novice, he and his girl friend know even less....

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