Life can be difficult without the convenience of a credit card – but if you are just starting out on your own and have no job yet, or you’re down on your luck and currently unemployed, will you be able to qualify for a credit card? The answer is yes, within limitations.
When credit card companies evaluate your application, they are assessing the likelihood that they will be paid back. While the income from a job is an excellent predictor of solvency, there are other methods you can use to show the credit card issuer that you pose limited risk.
Without a job, what income sources will you use to pay the bills? If you have a predictable income stream such as alimony payments, Social Security/retirement benefits, or annuities, it will be easier to secure credit even with a lack of employment income. Assets such as savings accounts will also help, but without an obvious means of replenishing those savings, credit card companies may balk at extending credit to you.