Chip Lupo, Credit Card Writer
@CLoop
No, you cannot get a credit card with no money because the law requires credit card issuers to verify that applicants have the ability to make monthly payments before approving them for an account. Still, you may be able to get a credit card without a paycheck from a job if you have reasonable access to other income. This can include shared household income (for applicants 21 and older), retirement income, unemployment benefits and more.
Tips for Getting a Credit Card With No Income
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Report any shared income
Even if you don’t have the personal funds needed to get a credit card, you may still qualify if you’re at least 21 years old and you have access to someone else’s income. Money earned by someone else qualifies if you have reasonable access to the funds – for example, if a household member’s income is deposited into a joint bank account that you can access.
This rule changes for applicants under 21, however. If you’re under 21, you can’t include shared income from a relative, friend, partner or other third-party on your credit card application. But you can include an allowance you are given, for example. -
Sign on as an authorized user on someone else’s account
Income is not a factor for you to become an authorized user, though you may have to meet certain age requirements, depending on the issuer. You’ll have your own credit card with your name on it, but the primary cardholder owns the account. The primary cardholder is financially liable for all charges made on the card, so you should work with them to maintain the account in good standing.
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Look into getting a cosigner or submitting a joint application.
You could open a credit card with a co-signer, which is someone who agrees to assume liability for the debt if you are unable to pay. You can also try to sign up for a joint credit card account if both you and the co-owner meet the card’s approval requirements. Unfortunately, these options are not common right now.
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