Can I Get a Credit Card Without a Job?

Can I Get a Credit Card Without a Job?

Credit cards are necessary for various transactions today. But can you get a credit card without a job? Yes, you can. However, it’s not going to be easy because you only have a few options. Here are some ways on how you can apply for a credit card if you are unemployed.

• Authorized User

You can become an authorized user on your family member or friend’s account. If you’re an authorized user, any purchase you make with the card will appear on the monthly statement of the main cardholder. The cardholder must give your information to his bank and request to add you as one of the authorized users. Don’t forget to discuss the payment plan and spending limit with the cardholder. Follow the plan to avoid harming the credit score of the main cardholder. And since you are not linked to the cardholder’s credit score, any changes to their score would affect you as well.  Some credit card providers report the credit activity of authorized users to credit bureaus.

• Student Credit Card

If you’re a student, you can apply for a student credit card. This kind of credit card has low fees and reward programs designed exclusively for students. If you’re over 21 years old, you may get your application approved. But if you’re under 21 years old, your application for a student credit card won’t get approved if you don’t have a job. However, you can ask someone to co-sign your credit card application if it’s allowed by the bank.

• Co-signer

Another option to get a credit card without a job is to ask someone to co-sign your credit card application. Your application will get approved faster as the bank will assess the co-signer’s current employment andcredit history as well. You will get monthly statements from the bank and you have to pay the bills every month. Your co-signer has to pay your bills if you were unable to do it.

• Secured Credit Card

If you don’t want to have a co-signer, you can apply for a secured credit card. This kind of card requires you to give a deposit, which is normally equal to the credit limit of your card. Your application may be approved faster because this arrangement lowers the risk for the bank. Aside from this, some secured credit cards don’t require applicants to have a job, credit card, credit score or income. With this kind of card, you can either switch to a non-secured credit card or increase the credit limit once you have shown that you’re capable of paying your monthly bills on time.

Conclusion

You can still get a credit card even if you are currently unemployed. So if you want to get one right now, consider asking someone you trust to become a co-signer for you or add you as one of the authorized users on their card. But whether you have a job or unemployed, use your card wisely. Pay your monthly bills on time and buy only what you can afford to pay for. That way, you can improve your credit score.