Applying for Credit Cards While Unemployed?

**Okie21** · Jan 31, 13, 10:20 am

I recently quit my job, and have yet to choose another. I only have one credit card, and i have great history, but my credit age is just over 2 years. I know its time i get 2 more credit cards to help my score in the long run. I was thinking about going for Chase Freedom and possibly Discover More, but i wanted you all's feedback on whether or not its worth applying when i dont have an income (and i'm not going to lie on the app!).

As mentioned, i have one card, it has a 5k limit, 5-10% util, and I have never had a negative of any kind on my report. My last set of scores that i paid to look at (thru Equifax in Nov 2012) were EQ:727, EX:710, TU: 748. Is it worth applying now, or should i wait?

**paparoach429** · Feb 1, 13, 1:19 am

Im not a genius but I can only assume when they see $0 income that will be an instant rejection! Also regardless of your current credit cards being 2 years old and it being a "good" time to add some more do you really think its wise while your not employed? I dont know how strong willed you are not to use the cards if you were to get them but I personally wouldnt do it.

**MemberSince99** · Feb 1, 13, 4:27 am

I agree with not lying on the app. If you do that, and it's caught, and they wish to press charges, you can go to prison for that. Google it - it's happened very recently. Ironically, they are pretty much free to make fraudulent statements at will and as far as I know, no banker has done jail time for anything related to the mortgage mess, so that's justice in America at work for you (the big guys can do whatever they please while the little guy can be made an example of).

Anyway, do NOT lie. If you're a banking executive, you can probably get away with it, but as the average joe, don't do it.

Also I can't think of any creditor who will see no income and approve you. It would be a wasted pull. Don't waste that inquiry when you have 0 chance. Wait until you get a job.

Think about it this way - would you loan money to someone who isn't a close friend or family member who has no job? Probably not, for the same reason they won't want to loan money to you.

Good luck with finding a great new job and then getting the card you're looking for.

**Okie21** · Feb 1, 13, 8:17 am

Thanks guys. I figured that would be the answer, but just wanted to check those "in the know". I have plenty of cash to live on, and more credit than i would use right now anyway. I wouldnt be getting them so i could spend, but just so i could get some more accounts open and let the aging process begin. I've never carried a balance or paid a dime of interest. I look at cards as tools to help sculpt your credit. I'm a saver not a spender. Thanks for the input and the words of wisdom!

**sakhalin** · Feb 2, 13, 2:04 am

What kind of card do you have? Maybe you can PC it to a rewards card (if your bank or institution has one).

**Okie21** · Feb 2, 13, 8:30 am

Its a Cabela's Club Visa card. It gets 1% on everything and 2% on Cabela's purchases, which is quite handy for me. But i would like some cash back cards too. What does "PC it" mean?

**MemberSince99** · Feb 2, 13, 2:10 pm

PC = product change. Basically convert it to a card with rewards, which he didn't realize you were already getting. Not sure if they can PC that card, but honestly I'd avoid calling them up and drawing any attention to yourself while you are between jobs. If that were to slip out, it's possible they would take AA (adverse action) against you to protect themselves. As long as you pay what you use and get another job there is no issue, but why poke the bear, nothing good can come of that.

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