If you are unemployed, obviously it would make sense that obtaining credit would be difficult, since you have no means of repaying. But what about if you're on disability? Or Social Security? Is there any difference in applying for credit or a mortgage, according to how you receive your income? I'm having a hard time wording this, but I guess what I'm trying to ascertain is whether or not you are penalized either with not being able to obtain credit or a mortgage, or paying a higher rate, if you don't have a regular job. Just wondering. Ozzy.
I think it depends on the amount of income. Someone getting $800 a month from social security with no other income would not qualify for any card. A disabled surgeon drawing his disability income insurance benefit would qualify. So it's the amount, not the status.
