These new rules infuriate many stay-at-home moms, who argue that they shouldn’t be forced to give up their financial independence just because they choose to stay home to raise their children. One mother of two, Holly McCall of Vienna, Va., started a petition on Change.org called, “Don’t set us back half a century! Give stay-at-home moms credit.” Almost 35,000 people have now signed it.
Having a credit card is a big part of moving in the contemporary North American economy.
It can be empowering to people who need help leaving an abusive situation. Sorry if that's not clever and lulzy enough of a topic for mefi. I mean, SAHMs should already know how fucked they are anyway, amirite?
Say your sister can give you a place to stay and a job that would but she lives in Cleveland and you're in Denver. Or you finally got a spot in that subsidized daycare but you have to pay them upfront and then be reimbursed when the subsidy gets processed. Oh and they need a month up-front to hold the spot. Or say your child needs a special formula and you can't qualify for WIC because of your husband's income...
I think that this is primarily industry astroturfing but the lack of empathy here is shocking and angering nonetheless.
‘A card issuer may not open any credit card account for any consumer under an open end consumer credit plan, or increase any credit limit applicable to such account, unless the card issuer considers the ability of the consumer to make the required payments under the terms of such account.’
3.) Having credit in your own name does far more to build your credit history than being listed as an authorized user on someone else's card.
What alternate Congress in what fantasy version of the United States is going to pass this hypothetical law?
Being without a credit card is sometimes a very large logistical problem in America
I am a stay-at-home mom. I have a credit card. (More than one!) I do not run up debt. I use it to buy groceries and pay it off at the end of the month. My credit report is pristine. I am not, contrary to what a lot of posts in this thread suggest, a FUCKING MORON.
But her husband's ability to pay hasn't gone down due to his increased support obligations?
Or, if both parents remain working and they now pay more in childcare costs every month than the second spouse earns, and the family's income would be higher if the second spouse stayed home (a very common scenario!), why should their creditworthiness remain the same if both parents keep working?
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