Ways You can Obtain a Credit Card Without a Job
The necessity of credit card is not something that shouldn’t be emphasized in recent transactions, especially if you want to rent a car or book a hotel. Having access to a credit card without a job is very risky, precisely lack of a stream of income. But then, there are a few consumers with a steady income, income not as a result of working for someone.
A job is not a basis for credit card qualifications
Most credit card applications only request for hereditary occupation or employment and income details. You will be required to choose whether you’re still in school, social worker, homemaker, self-employed worker, or unemployed. The name of your employer may be required by some applications. But you will be allowed to fill in nil in such spaces if you’re not employed by anyone. Most applications do not request for employer details and if your employment details are requested on the credit card application, you’re legally mandated to be truthful in answering.
Income is more significant | Obtain a Credit Card Without a Job
If your employment details are not required, you will be mandated to enter your yearly. Things like child support, and money authorized by courts to be paid or any other income you deem fit to be considered for repaying your credit card balance. To ascertain what your total annual income is: you have to multiply weekly income by 52; multiply bi-monthly income by 24; multiply income you receive every other week by 26, and then multiply monthly income by 12.
Submitting another person’s Income information
As long as your bills can easily be paid, and you’re above 21years of age. Then u can make use of someone else’s income statement on your credit card application. For instance, if your partner often makes transfer a certain amount of money to your account, that amount can be used as your income. Or, better still a joint account.
You and that person are eligible to access the whole funds, the regular deposit can be used as your income. However, when there is no record of the above I.e. funds from either spouse or family member, coupled with the fact that u hold no joint account, you will be denied from having access to their income on your credit card application.
Share a Credit Card with Someone Else
You can make use of a credit card without a job by sharing with another person who is an authorized user or as a joint account holder. As an authorized user, you’re eligible to use the credit card, but without the legal right to make purchases. Your income and credit history will not be required when you’re added as an authorized user.
Make an effort to use a Secured Credit Card | Obtain a Credit Card Without a Job
A secured credit card applications will always require your employment and income information, however, it’s possible you get an approval for one of these credit cards because of the Security deposit made as collateral. Let’s take the Capital One Secured MasterCard for instance, you can make a security deposit as low as $49 for a $200 credit limit, depending on your creditworthiness. When your security deposit increases your credit limit will automatically increase. Another very good option for a secured credit card is the Discover it Secured.
Prior to your application for a credit card with no job at hand, examine your ability to repay the credit card balance. If you’re approved for a credit card and you don’t have the means to repay your charges, you’re likely to face credit difficulties like late payments, charge-offs, and debt collections.
Obtain a Credit Card Without a Job