Can I sign up for a credit card to a company w/ no income other than student loans?

[KeikoTanaka]

Like, if they ask for your net income, can I say how much I was granted in loans?

I'm trying to get that 20% saving for something and i'm desperate haha.

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[pseud0]

technically i believe its not legal

technically i'm sure a lot of people do that

 

[sunshinefl]

You have to read what qualifies, but usually student loans don’t count as income. I haven’t opened any new loans or accounts during medical school besides federal student loans. Also, I have been limited as to what apartments will qualify me as “making 3x the rent” based on student loans.

 

[samac]

I claimed it.
The only one who asked me to verify was Capital One, so I’d avoid them.

 

[Scrubs101]

Depends on the company, if its not properly listed whether its acceptable call and ask. I believe one of my cards i listed it as non taxable income and one i did not

 

[Sardonix]

I claimed it.
The only one who asked me to verify was Capital One, so I’d avoid them.

Which is weird because I could warm my entire house with all the spam mail offers they keep sending me.

 

[samac]

Which is weird because I could warm my entire house with all the spam mail offers they keep sending me.

I could too. I was trying to get a couple different ones to have a couple different banks as I had a discover from college. Thought capital one would be easy to get and they shut me down, with a 780 credit score for not having proof of income
Ended up getting the citi double cash with 2% back on everything over the 1.5% capital one offers so they can fall down a deep hole for all I care.

 

[Dantes]

Your best bet would be a card through the bank that you have a checking/savings account with I would think.

 

[Wjldenver]

Applying for a credit card is like buying a lottery ticket, you really don't know what you're going to get. Chase just rejected my son for a card since they said his debt to income ratio was too high. Well, he has $229K in student loans and makes $54K as a resident. So I guess Chase must think most young physicians are a poor credit risk. And after he got rejected by Chase, he applied for a Capital One credit card and was instantly approved.

So it appears that applying for credit cards is like applying to medical school. Apply widely and just see what happens in regard to an acceptance.

 

[Neopolymath]

Applying for a credit card is like buying a lottery ticket, you really don't know what you're going to get. Chase just rejected my son for a card since they said his debt to income ratio was too high. Well, he has $229K in student loans and makes $54K as a resident. So I guess Chase must think most young physicians are a poor credit risk. And after he got rejected by Chase, he applied for a Capital One credit card and was instantly approved.

So it appears that applying for credit cards is like applying to medical school. Apply widely and just see what happens in regard to an acceptance.

I had a similar situation while securing a rental at one point. I had enough money in the bank to purchase the stupid house in full and they denied me for insufficient income. I'm convinced they just randomly approve people for everything these days and don't actually think about any of this stuff.