You won’t be able to do many things if you’re unemployed. But can you get a credit card with no job?

Most financial products will require proof of income. But not every credit card requires a job. Keep reading to understand how this is possible.

The short answer to this question is: maybe. It is not a solid answer, but let’s see how to unfold this peculiar situation.

Yes, it is possible to get a credit card if you don’t have a job. That’s because you must prove you have money in your bank account.

It doesn’t mean necessarily being employed. If you have any other monthly source of money, you may qualify for a credit line.

But know that this is not unanimity. Actually, this is an exception. Most credit card issuers will ask for a steady source of income.

Consider getting a job and a high credit score before applying for a credit card if you want o make sure you’ll get approved.

This will definitely help you to get a credit card with no job. The credit score is one of the main factors in checking your creditworthiness.

That’s because many factors will impact and compose your credit score. So if you have a high credit score, it means:

In other words: the higher your credit score, the higher your chances of getting approved for a credit card.

So if you have no job but your credit score is good or excellent, you can get your credit card.

Some issuers allow you to bring a bank statement instead of a paycheck to prove your monthly income.

So, let’s say you receive money from your parents, or maybe you have investments. You can get a credit card in this situation.

Therefore, having no job is different from having no money. You cannot get a credit card if you have no money coming into your bank account.

After all, your credit card balance will not pay itself. If you have no source of income of any type, how will you cover your credit card expenses?

Getting a credit line is serious business; you must know it before applying.

Saying that you can is not the same as saying that you should. After all, why would you want to compromise your finances?

Remember that you can get trapped in a snowballing debt if you can’t pay your credit card balance.

Each month you carry a credit card balance will increase your debt more and more. And the bigger your debt, the deeper you’ll fall into a financial crisis.

But if you have the perfect plan to get out of this situation unharmed, you can try to get a credit card with no job.

Let’s say you have tried to get a credit card with no jobs, but you were unsuccessful in your mission. What can you do now?

Don’t worry; you have a few options:

Secured credit cards are just what they promise to be: secure. This is by far the best solution for you and credit issuers.

If you’re unfamiliar with secured credit cards, know they are perfect for building credit scores. Most people will start their credit history with one of these.

To get one, you only have to place a security deposit. The amount you deposit will be your credit limit.

For example: deposit $300, and you’ll have a $300 credit limit.

More than using a credit card, you are also saving money. You can get your security deposit back once you fully pay your credit card balance. 

If you’re not alone in this world, that’s the moment to ask for help for your employed friend – or an unemployed friend who already has a credit card.

By becoming an authorized user, you can get a credit card. However, you will be dealing with someone else’s finances.

Being an authorized user requires double attention and responsibility. Otherwise, you might end up with no credit card and no friends.

A credit card can become an excellent financial tool if you have a plan and can manage your finances.

But if that’s not the case, a credit card can put you in a worse situation than when you had no credit card.

It all depends on your ability to deal with credit and if you have an alternative source of income and do not depend on your employee.

Remember to keep improving your financial knowledge to deal with these situations like a pro!

To help you with your journey, the following article will explain if a 650 credit score is good! Read on for more!