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> your income This is no longer true. == Before 2013, the CARD Act required that card issuers take into account only the individual card applicant’s income o
by cjbprime 7y ago
> your income
This is no longer true.
==
Before 2013, the CARD Act required that card issuers take into account only the individual card applicant’s income or assets. However, the Consumer Financial Protection Bureau put in an amendment in 2013 that allowed card issuers to also consider any third-party income and assets that an individual card applicant of at least 21 years of age has a “reasonable expectation of access to.”
- citilife 7y agoThat's fair, some places are explicit and still lay out "individual", but legally you don't have to. In either case, I'd also note here, because they are a married couple they are counting that income twice. Which, for offering credit is a bit dangerous as this income "secures" the credit line. I'm more surprised it didn't result in an outright decline if they didn't seperate their income when applying.