Can you get a credit card without a job?
Credit card companies in the U.S. usually ask people if they have a job before giving them a credit card with money on it. They want to be sure that person has money for their monthly payments. But everyone has their own job or business. If you are one of them, then how can you get a credit card without a job?
There is a common myth that credit card companies do not give you a credit card if you are unemployed. However, you can still get one especially if your parents have the income to provide for your monthly payment. It is important that they should be the ones who will put their name as cosigners of your application.
In this article, I’ll tell you how you can get a credit card without having a job. So, without any due let’s get started.
Who is eligible to get a credit card?
For getting a credit card, you need to fulfill some legal requirements. Otherwise, the credit card company will not approve your application. Besides, you will not be eligible to own a credit card. Let’s see what are the requirements below:
(i) You must be 18 years old or older.
(ii) You must be a U.S. citizen.
(iii) You must have a government-issued photo ID.
(iv) Your credit score should be good.
(v) Your monthly income should be more than your expenses.
The first three requirements are obvious that you need to fulfill. However, the fourth and fifth requirements may vary from one credit card company to another.
Special Facilities for a Few Freelancers
If you are a freelancer and you don’t have any job, then there are some credit card companies who will provide you with a special facility. But, the main thing is that you must be able to prove that you will be able to make your monthly payments on time.
Besides, you must also have a good credit score. Your annual income must be more than $35,000. If you are able to fulfill these requirements then only you might get a credit card without having a job.
Moreover, you also have the option to get a secured credit card. To get a secured credit card, you need to have a good credit score. You also need to put some money down on the card. The amount of money will be equal to your credit limit.
How can you get a credit card without a job?
There are a few ways that you can get a credit card without having a job. Here are some of them:
#1. Get a credit card with your parents.
If you have a good relationship with your parents and they are able to make your monthly payments on time, then you can get a credit card with their help. In this case, you will be an authorized user of your parents’ credit card. Your parents need to be the cosigners of your application.
This is the easiest way to get a credit card without having a job. And, you will also improve your credit score by using a credit card responsibly.
#2. Get a secured credit card.
If you are not able to get a credit card with your parents then you can try to get a secured credit card. In order to get a secured credit card, you need to deposit some amount of money on the credit card company. Usually, you will be asked to set up your initial payment for your first month’s bill on time. Moreover, you will also receive a monthly fee for holding such cards.
#3. Get a co-signer credit card.
A co-signer is like a guarantor for you and your credit card company. This means they will pay for your monthly bills if you do not make it on time. However, the main condition of getting such cards is that you must have an excellent score. You also have to have a low utilization percentage of the available credit limit. In this way, the co-signer will not have any financial responsibility.
If you are not able to get a job, then you can try to get a credit card with one of the methods mentioned above. But, make sure that you are able to make your monthly payments on time. Else, this will damage your credit score. So, be careful while making such payments.
Benefits of a credit card.
Credit cards are one of the most important things in our daily life. So, it has huge benefits. Let’s see some benefits:
(i) You can shop any time you want.
(ii) There is no restriction on the amount of money that you can spend. However, make sure to pay it back in full within the grace period.
(iii) You cannot get cash advances from a store or outlet. But, through credit card companies, you can get such facilities easily.
(iv) There are many reward programs for credit customers.
(v) Credit cards can be used to make online purchases from anywhere in the world.
In a nutshell, there are lots of benefits to having a good credit score and using your credit card responsibly. Therefore, you must take maximum advantage of these cards and improve your score.
Frequently Answer Question(FAQs)
Question: Is credit card safe?
Answer: Yes, credit card safe. Actually, it depends on the bank’s security system. If the bank has a very good security system then the credit card will be safe. Moreover, it also depends on the customer. If the customer is using his/her credit card in an authorized way then it will be safe for them. The customer should not share his/her card details with anyone.
Question: Is it possible for me to have my credit card hacked?
Answer: Yes and NO both. Yes, it is possible for someone to hack your credit card and get all the information. They can use this information to make fraudulent purchases. On the other hand, if you are using a good security system on your computer and also keeping your card details safe. Then, it will be difficult for hackers to get access to your card. So, it is totally up to the customer how they use their credit card.
Question: How long will it take for me to get a credit card?
Answer: It depends on the bank and also your credit score. If you have a good credit score then you can easily get a credit card from any bank. But, if you have a low score then it will take much time to get one. For example, you have applied for a credit card today but the bank is not processing your request. It may take weeks or months before you get one after applying.
Getting a credit card without having a job is not impossible. You can use one of the three methods mentioned above to get a credit card. All you need is to be careful while making your monthly payments. Moreover, make sure that you are using your card in an authorized way. Else, this will damage your credit score permanently. So, use your credit card wisely and enjoy its benefits! I hope now you will get a credit card and use it in a wise way. Thank You!