When unemployed, a few options for credit card approval exist. The CARD Act of 2009 requires credit card companies to analyze an applicant’s “ability to pay” before approving a consumer for a credit card. When unemployed, other income can be listed on a credit card application. Get a CosignerFor applicants with trusted friends or family members, some credit card issuers allow cosigners. Bottom LineConsidering all risks before applying for a new credit card while unemployed remains imperative, as it would be when applying for any line of credit under any circumstances.

Source: Forbes April 02, 2021 13:03 UTC