Originally Posted by
opus2002
That's interesting. How would most non-working spouse get credit cards then with essentially zero income? Makes you wonder what all these regulations really do.
This provision does seem to counter the Equal Credit Opportunity Act which in part targeted the income status of stay at home partners.
The new provision does not only affect non-working spouses, but affects anyone where one souse makes a lot more than the other. What stinks is any debt (mortgages, car notes, etc) listed on your credit reports count 100% against the lower salary spouse and it may look like the lower-earner has a high debt-to-income when, in fact, that is not the case when both incomes are counted.