Key takeaways
- Thanks to the CARD Act of 2009 and an updated ruling from the CFPB, credit card applicants can list their spouses income on their applications — provided that they have reasonable access to that income and are age 21 or older.
- Credit card applications aren’t always clear on what counts as income, however, so you might not see this information explicitly stated when you apply.
- Whether a card application includes this information or not, it’s still legal to list your spouse’s income on your application so long as you meet the requirements.
If you’re concerned about meeting income requirements when applying for a credit card, you can use your spouse or partner’s income on the application. This option is made possible by the CARD Act of 2009 and a ruling from the Consumer Financial Protection Bureau (CFPB) in 2013, allowing individuals to include household income on their credit card applications as long as they have reasonable access to that income and are at least 21 years old.
This flexibility in listing household income can benefit families, especially those with a stay-at-home parent or caregiver. Previously, individuals with no personal income may have struggled to get approved for credit cards, but now they can leverage their partner’s income to qualify.
Credit cards that accept household income
Major credit card issuers now consider household income during the application process, following the CFPB ruling. While the wording may vary, credit card applications like Chase Sapphire Reserve®, Citi Double Cash® Card, and The Platinum Card® from American Express allow applicants to include income from others if they have reasonable access to it for bill payments.
Regardless of the credit card you choose, you have the option to list household income on your application, as long as you meet the CFPB requirements of being 21 or older and having access to funding from a spouse or partner.
Why do credit card issuers ask for income?
Credit card issuers consider various factors, including income, when evaluating credit card applications to determine the applicant’s ability to repay debts. By allowing household income to be listed, couples can access credit without needing a joint account, providing more financial flexibility.
Do credit cards require proof of income?
Unlike other financial products, credit card issuers typically do not require proof of income during the application process. This streamlined approach allows for quick approvals, but applicants should always provide accurate information to avoid potential consequences like bank fraud.
Reasons to get your own credit card
Having your own credit card account offers benefits such as building credit history, independence in financial matters, privacy for personal expenses, and earning rewards. While being an authorized user has its advantages, having your own credit card provides greater control and opportunities for financial growth.
The bottom line
Individuals who rely on a spouse or partner’s income can still qualify for a credit card by listing household income on the application. This inclusive approach benefits a wide range of individuals, ensuring access to credit and financial opportunities based on shared income within the household.