Question about spouse CC applications
Feb 12, 2012 | 10:33 pm
#1
Original Poster
Join Date: Jan 2012
Posts: 8
Question about spouse CC applications
Hi folks - apologies for the newbie questions..
I'm looking at having my wife apply for a few offers. Her credit score is 760. She has a long credit history (all good), however currently a stay-at-home-mom with some minor part-time paid volunteer work.
1. Is she likely to get approved in this situation?
2. I got a Chase Sapphire Preferred on 1/19/2012, and got her an "Additional" card. We're looking at her applying for the Chase BA card. If she does apply, will the 90 day rule apply since she was added as an additional card holder?
Thanks in advance!
I'm looking at having my wife apply for a few offers. Her credit score is 760. She has a long credit history (all good), however currently a stay-at-home-mom with some minor part-time paid volunteer work.
1. Is she likely to get approved in this situation?
2. I got a Chase Sapphire Preferred on 1/19/2012, and got her an "Additional" card. We're looking at her applying for the Chase BA card. If she does apply, will the 90 day rule apply since she was added as an additional card holder?
Thanks in advance!
Feb 13, 2012 | 7:16 am
#2
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
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Feb 13, 2012 | 7:53 am
#3
Join Date: Feb 2012
Location: Ohio
Programs: Marriott Gold, Hilton Gold, UA Silver; 800K+ points 2012
Posts: 115
I'm in the same situation-- just signed my wife up on Saturday.
One of the questions I did a bit of research on was how to state "Total Annual Income" in the application given the situation. From looking around in FT & other forums, the undertone of this question seemed to be focused around "Total Annual [Household] Income". Since my wife is a stay-at-home mom, her personal income is 0, but our overall household income is much greater. We put the total household income in for her app, and it was approved (still stating her as a HomeMaker for occupation).
- John
One of the questions I did a bit of research on was how to state "Total Annual Income" in the application given the situation. From looking around in FT & other forums, the undertone of this question seemed to be focused around "Total Annual [Household] Income". Since my wife is a stay-at-home mom, her personal income is 0, but our overall household income is much greater. We put the total household income in for her app, and it was approved (still stating her as a HomeMaker for occupation).
- John
Feb 13, 2012 | 9:04 pm
#5
Suspended
Join Date: Apr 2011
Location: Usa
Programs: mgsetleGD
Posts: 297
Hi folks - apologies for the newbie questions..
I'm looking at having my wife apply for a few offers. Her credit score is 760. She has a long credit history (all good), however currently a stay-at-home-mom with some minor part-time paid volunteer work.
1. Is she likely to get approved in this situation?
2. I got a Chase Sapphire Preferred on 1/19/2012, and got her an "Additional" card. We're looking at her applying for the Chase BA card. If she does apply, will the 90 day rule apply since she was added as an additional card holder?
Thanks in advance!
I'm looking at having my wife apply for a few offers. Her credit score is 760. She has a long credit history (all good), however currently a stay-at-home-mom with some minor part-time paid volunteer work.
1. Is she likely to get approved in this situation?
2. I got a Chase Sapphire Preferred on 1/19/2012, and got her an "Additional" card. We're looking at her applying for the Chase BA card. If she does apply, will the 90 day rule apply since she was added as an additional card holder?
Thanks in advance!
2. The additional cardholder thing shouldn't matter at all, since it is your account.
good luck!
Feb 13, 2012 | 10:21 pm
#6
Join Date: Mar 2006
Location: Near ORD
Programs: AA LT Gold, Hyatt Diamond, HH Gold, SPG Gold, PC Plat Ambassador
Posts: 739
I am currently unemployed and have been for the past 2 years (have had a few odd jobs and volunteer work but only a sporadic income) and always list our household income. I have had no issues getting any credit cards in the past 2 years and have been able to take advantage of all of the good bonus offers. In fact my husband and I typically sign up for our own cards at the same time, when we see a good bonus offer (or we'll each do an app-o-rama on the same day).
Feb 14, 2012 | 10:56 am
#7
Join Date: Sep 2011
Location: IAH
Posts: 362
Actually, effective Oct. 1, 2011, you're now required to give individual income, not household. The exception is if you live in a community property state (Texas, California, etc).
Link
(Thanks to CVG_Kid to enlightening me recently.)
The Federal Reserve's rule told credit card companies that they no longer can consider household income when assessing the creditworthiness of an individual who applies for his or her own card. Under the rule, only an individual's own salary or other income -- rather than combined household income -- can be considered.
(Thanks to CVG_Kid to enlightening me recently.)