C&P from MM: WDYT? SAHP & credit cards

[Deleted]

If you can't afford to work, you probably can't afford a credit card. YWIA!

I mean, I get it. SAHM's should have some way to built credit as to not get stuck like a fucking duck tied to a douchebag of a husband and only staying because you can't see a way out but please, no jobbie, no credit card. Why is this so terrible?

[ttt]

I don't understand why household income isn't considered anymore. Or how they even verify this.

[Deleted]

Also, no one is making judgements on your worth, stupid. Creditors are simply saying, how the fuck are you going to pay us back if you have no job? And I'm sorry, asking for your husband's permission? Yeah, she doesn't want to do that for a credit card but she's okay with using his money to pay the bill?

I'm not saying she's slave to her husband's wishes. I just want to understand the dicotomy in her mind that she feels like she's "asking" her H for a credit card when she's sharing credit with him but not when she's depending on him for an income.

[judgejudy]

May 17, 2012 8:40:07 GMT -5 @habbsies said:

If you can't afford to work, you probably can't afford a credit card. YWIA!

I mean, I get it. SAHM's should have some way to built credit as to not get stuck like a fucking duck tied to a douchebag of a husband and only staying because you can't see a way out but please, no jobbie, no credit card. Why is this so terrible?

As a SAHM I'm torn on this because I would hate to think I would be denied a cc. However, when I get over myself I'm inclined to agree with the above.

[ttt]

This is stupid, though:

"I used to be CEO of a small software consulting business and am now staying at home to take care of a toddler and first grader. If you had to pay someone to do what I do now, it would cost you at least $120,000, which is a lot less than what I used to earn," one stay-at-home mom wrote on the online petition. "BTW, it's a 24x7, not a 40 hour per week job. Don't you think I should be allowed to get a credit card on my own?!"



Yeah, but you *don't* get paid for it, and you can't pay your credit card bill with "but if I were getting paid...!"

[Melissa W.]

Places like Target- I don't think they verify.

Places like a local bank/credit union- It is regular loan app.

This screams entitlement to me. Credit cards are not a need. You can get a open a checking account as a the sole account holder and get a debit card that allows you to shop on line and make reservations for things etc.

The lender is taking a risk and doesn't want the risk of a non payment if you have no documented way to pay the card on your own.

[Deleted]

May 17, 2012 8:44:44 GMT -5 judgejudy said:

As a SAHM I'm torn on this because I would hate to think I would be denied a cc. However, when I get over myself I'm inclined to agree with the above.

SAHMs UNITE!

[Deleted]

I SAH and I can't summon the outrage for this, as long as there is a way for me to easily get said cc when I need it (just a matter of registering it jointly?).

But overall, the treating people like children thing is what annoys me. Instead of enacting law after law to protect people from themselves because they have no grasp of personal finance, why not actually teach this when they are in high school? I graduated in the mid-90's, there was nothing like this at the time. I think some sort of personal finance class should be a req. to graduation -- which includes learning about credit cards, bills, checking, loans, insurance, etc.

[jlt19]

Since when does it cost $120k to have someone care for a toddler and 1st grader (who should be in school anyway?

I understand her wanting a Target CC though, you get 5% off and free shipping online! Though she could have just gotten the Target debit card with the same perks.

[Deleted]

Vanessa, I don't agree that this treats people like children. I think it sets of reasonable checks and balances on greedy ass banks.

These women might be bitching about not having a target card in their very own little name but it's also keeping the bank Target uses from giving housewives the ability to rack up a shitton of debt they won't be able to pay off when their husband kicks the bucket or they leave his troll ass after catching him in bed with another woman.

I'm not sure how we ended up in a society that feels a credit card is absolutely necessary to everyday life that we're throwing hissy fits when banks can't give people who don't have a reliable source of income one all by their little lonesome.

[emmybean]

I felt demeaned when I couldn't get that $500,000 mortgage on my part time, single income. DON'T THEY KNOW IM RAISING A CHILD!!!! MY WORTH, LET ME SHOW IT TO YOU!

:::eyeroll:::
This is some horseshit.

[judgejudy]

May 17, 2012 8:52:30 GMT -5 @vanessadoof said:

I SAH and I can't summon the outrage for this, as long as there is a way for me to easily get said cc when I need it (just a matter of registering it jointly?).

But overall, the treating people like children thing is what annoys me. Instead of enacting law after law to protect people from themselves because they have no grasp of personal finance, why not actually teach this when they are in high school? I graduated in the mid-90's, there was nothing like this at the time. I think some sort of personal finance class should be a req. to graduation -- which includes learning about credit cards, bills, checking, loans, insurance, etc.

Because people are dumb and act like children. FACT! YIA.

[Deleted]

May 17, 2012 8:58:32 GMT -5 judgejudy said:

Because people are dumb and act like children. FACT! YIA.

And banks are greedy bastards who take advantage of the dumb who act like children.

Also, let's face it. Learning something in high school isn't a guarantee. I learned Russian in high school. I wouldn't be able to tell Putin to put his shirt back on if I met him today.

[Melissa W.]

May 17, 2012 9:00:36 GMT -5 @habbsies said:

May 17, 2012 8:58:32 GMT -5 judgejudy said:

Because people are dumb and act like children. FACT! YIA.

And banks are greedy bastards who take advantage of the dumb who act like children.

<b>Also, let's face it. Learning something in high school isn't a guarantee. I learned Russian in high school. I wouldn't be able to tell Putin to put his shirt back on if I met him today </B>.

This made me erkel laugh.

[ECB]

May 17, 2012 8:55:56 GMT -5 @habbsies said:

Vanessa, I don't agree that this treats people like children. I think it sets of reasonable checks and balances on greedy ass banks.

I agree. I can remember how in college, banks would flood students mailboxes w/ CC offers. DH never took advantage of this (took his dads advice), but when he graduated and GOT A JOB, suddenly the only thing he would qualify for was a $500 secured card.

That's messed up! College students w/ no income??? HERE_ take a CC. A new graduate w/ an income? Um, no, you can't ge4t a card.

I think this is part of the problem our country has w/ debt!

[judgejudy]

May 17, 2012 9:00:36 GMT -5 @habbsies said:

May 17, 2012 8:58:32 GMT -5 judgejudy said:

Because people are dumb and act like children. FACT! YIA.

And banks are greedy bastards who take advantage of the dumb who act like children.

Also, let's face it. Learning something in high school isn't a guarantee. I learned Russian in high school. I wouldn't be able to tell Putin to put his shirt back on if I met him today.

You no likey

[Melissa W.]

May 17, 2012 9:04:16 GMT -5 ECB said:

May 17, 2012 8:55:56 GMT -5 @habbsies said:

Vanessa, I don't agree that this treats people like children. I think it sets of reasonable checks and balances on greedy ass banks.

I agree. I can remember how in college, banks would flood students mailboxes w/ CC offers. DH never took advantage of this (took his dads advice), but when he graduated and GOT A JOB, suddenly the only thing he would qualify for was a $500 secured card.

That's messed up! College students w/ no income??? HERE_ take a CC. A new graduate w/ an income? Um, no, you can't ge4t a card.

I think this is part of the problem our country has w/ debt!

I remember being called in my dorm room by a Visa card company. Stupid me actually got the card.

As far as the high school class on personal finance, I feel it is too late in the process. It should be something talked about early and often.

[Deleted]

Back in 2008, weren't we all laughing at how stupid banks were to approve mortgages for people with little or no income? How is this any different? I think it only makes sense that if you are not earning income, you cannot get credit without a cosigner.

[marie427]

May 17, 2012 9:19:44 GMT -5 @mjmksb04 said:

Back in 2008, weren't we all laughing at how stupid banks were to approve mortgages for people with little or no income? How is this any different? I think it only makes sense that if you are not earning income, you cannot get credit without a cosigner.

This. And I find it obnoxious that this woman thinks she deserves a credit card because she is doing worthwhile work and expects companies to take that into consideration. Banks are not in the business to say, "Well, this lady makes no money on her own but she is an SAHM and that is so wonderful, so let's give her the credit card since she is valuable to society." Um, no. Yes, SAH is very worthwhile and it *is* work, but just happens to be work that doesn't give you a paycheck from which you can pay your bills. Co-signing for the card is a reasonable solution.

[secretlyevil]

However, source of income = paying cc bills (in theory) so I don't disagree with the stance. In this situation the cc companies see this as very black and white issue and I don't fault them for that. Doesn't mean that as a SAHP, you're less valued. The bottom line is that you don't have a source of income in the traditional sense.

[shopgirl07]

May 17, 2012 9:27:46 GMT -5 sonrisa said:

May 17, 2012 9:19:44 GMT -5 @mjmksb04 said:

... people with little or no income? How is this any different?

Because, as I mentioned before, I don't have "little or no income." Until we are separated, I have a community property interest in the income of a certain psychiatrist. And he has a community property interest in the income of a certain contract attorney. Either of our wages can be garnished for debts of the community. If the credit card company can come after me for that money (regardless of who earned it), why can't they also give me credit based upon it?

I am not arguing that raising my daughter is a valuable source of income, puppies or rainbows which entitle me to credit. I am arguing that I have an income stream until DH quits or is fired, just like he does. If that income is sufficient guarantee for someone to extend him credit, then it should be grounds for me too.

This is the argument these women should be making because the community property thing makes sense. NOT you need to value me! I work hard! I'm important! What bothers me about this is they're not making a business case, they're making a case based on emotional stuff.

[heightsyankee]

I do like the law because people are idiots. However, as a SAHM I think I should be able to apply for a CC and not be turned down as long as I have a good personal credit history.

I do all the finances in my house. I pay all the bills, everything. My husband has no idea where our money goes, how much we have or don't have at any given time. I handle all necessary repairs, purchases, etc... There might be a day when I need to go to a store (Sears, home Dept) and can get a really good deal on some thing if I apply for their in store CC. I have an excellent credit history and an above average household income. I should be able to do this if I need to.

I don't feel like having my husband do it is belittling to me (he bought my car), but I think it also can inconvenience him, as well, and take him away from family or work when I could have handled it on my own...

[heightsyankee]

I do totally see the point there.

[jaylea]

May 17, 2012 10:14:32 GMT -5 sonrisa said:

Let me reiterate: His income belongs to me as much as it belongs to him. Not because he loves me. Not because he is a nice guy. But because legally it is also my income. And it will belong to me tomorrow, and the next day...

And, under the existing law referenced in the article, you are entitled to a joint credit card, to be paid with this joint income.

I think this is still reasonable. Sure, CA law may entitle all spouses to 1/2 of the household income, but as a national company, Target's policy seems reasonable.

[lyssbobiss, Command, B613]

I think it sucks that companies try to pressure people into getting a credit card by offering discounts. Like they WANT you to sign up for their stupid cards. But, let's be honest. It's your husband's salary that will be paying the bill, so the husband's name should be on the card. His money, his card.

[pamela]

As long as you are dependent on someone else for income, you shouldn't be allowed by a lender to take on debt in your name alone. It doesn't make sense. That's part of the deal with SAH, like it or not, you are dependent. It doesn't belittle the work or mean you don't have rights as an individual, but financially, you can't stand alone.

Sonrisa, we hear what you're saying about community property, but it's not that simple. Otherwise there wouldn't need to be so many high priced divorce attorneys in CA.

[charminglife]

May 17, 2012 10:10:18 GMT -5 asdfjkl said:

May 17, 2012 10:05:16 GMT -5 sonrisa said:

And she absolutely is asking to be treated as an independent financial entity. She wants her OWN credit card - apparently she doesn't want to have a joint one with her husband. She can't have it. She has no income and no job and, therefore, there is no plan for how she would repay the debt if her "decision-making power" were to abruptly change (or change without Target's knowledge) in the future.

Yeah, I'm on this train. I got the change.org petition emailed to me and it sparked a good conversation with a friend of mine. Regardless of whether or not SAHP are doing work - it is NOT work that brings in income. If you want to bring in income, go back to work!

The comment on fair and equal access to credit - what? Isn't access to credit fundamentally based on the ability to pay it back?

[ringstrue]

So what you are saying is.... Hab and SBP agree on something??

[basilosaurus]

Couldn't this argument that the man might right off tomorrow leaving you dry also apply to him losing his job? Having income now is no guarantee of any future income.

What if a woman has her own savings account? Do they ask about that? I haven't applied for a credit card since something like 2004 so I don't know.

[ringstrue]

Why can't her husband apply for the Target CC and put her on as a designated user?