Can I Include My Spouse’s Income on a Credit Card Application?

When applying for a credit card, lenders primarily consider your financial standing. Credit card issuers assess an applicant’s ability to repay borrowed funds, a requirement under the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. Your reported income significantly influences both approval decisions and the credit limit extended.

Including Spousal Income on Your Application

Applicants aged 21 and older can include their spouse’s or partner’s income on a credit card application. This is permissible if the applicant has a “reasonable expectation of access to and control over” that income. This guideline, established by the Consumer Financial Protection Bureau (CFPB), amended the CARD Act to allow individuals, such as stay-at-home spouses, to access credit by recognizing their contribution to shared household finances.

“Reasonable expectation of access” means the applicant can readily use the income to pay the credit card bill. This condition is commonly met when spouses or partners share joint bank accounts or have regular transfers for household expenses. In community property states, income earned by one spouse is often legally considered property of both. Always accurately report income you genuinely have access to, as providing false information can lead to serious consequences, including legal penalties for fraud.

Understanding What Qualifies as Income

Credit card issuers consider various sources when determining an applicant’s total annual income. Beyond traditional employment wages and salaries, this can include income from self-employment, commissions, tips, and bonuses. Other common sources that qualify are retirement benefits, such as Social Security and pension payments, and distributions from investment accounts like interest and dividends.

Non-traditional income sources, provided the applicant has consistent access, can also be included. These may encompass allowances or gifts received regularly, public assistance, disability payments, and workers’ compensation. Alimony and child support payments can also be reported. Conversely, borrowed money, such as student loans, should not be listed as income, as these funds represent a debt obligation rather than an ability to repay.

Credit Card Account Types and Spousal Income

Spousal income consideration varies by credit card account type. For an individual credit card account, an applicant can include their spouse’s income if they meet the “reasonable expectation of access” rule. While spousal income helps qualify for the card and potentially a higher credit limit, the primary applicant remains solely responsible for all debt incurred.

Joint credit card accounts make both parties equally responsible for the debt and combine both applicants’ incomes. However, true joint accounts are less common today, with many issuers preferring individual responsibility. If a joint account is not available, adding a spouse as an authorized user is another option. An authorized user can make purchases but is not legally obligated to repay the debt; this responsibility lies with the primary cardholder. An authorized user’s income is not considered when the primary cardholder applies for the account.