Contact 13
Qualifying for credit
Help could soon be on the way for some people being denied a credit card because they don't have their own income.
The Consumer Financial Protection Bureau is expected to propose a rule in the coming months to make it easier for people without personal income to qualify for credit cards. Currently, the law requires credit card issuers to consider applicants' individual income, instead of household income, when making lending decisions.
That means a lot of stay-at-home parents have a hard time getting their own credit cards, even if they have perfect credit.
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