Reply to Enlighten me about SAHMs and credit cards

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Maybe because marital assets are owned equally by a husband and wife, regardless of who received the pay check.  This type of inquiry sets married spouses on different footing from each other if they have different earnings, even though the law otherwise generally recognized spouses as a financial unit that works collectively in its best interest, including in choosing distribution of labor, such as who works, how much, in what kind of job and with what flexibility, who takes care of childcare, family stuff, etc.  Undermining the treatment of the marital couple as a single financial unit (though, again, assets to pay off credit card bills, etc. are owned equally) shifts financial power toward the person who received the pay check.  People are not otherwise required to ask permission essentially to use money (marital property) that it theirs.  [/quote]

SAHM can use assets to receive credit cards. For example, if you have $200K equity in your home you can claim $100K as equity and get a credit card.

When you do not have assets you can only claim income. Income is not "marital property" until it becomes an asset. So if you H is a jerk and he has his pay check go into a savings account in his name only and gives you an "allowance" to run the family he has full rights to the money in his account and you have no rights to that money - unless you file for divorce, then you have a right to 1/2. But he could "shelter" that money or spend it and there is nothing you can do about it.

A person with $0 income and $0 assets can not get a credit card. This makes sense to a credit card company because if you get divorced and you truly have no income they are at risk of default. Companies have the right to protect their interests.

A SAHM could ask the husband to create an account in her name and create a credit score that allows her to have a credit card. That make sense.

Here is my problem - I don't think the law goes far enough. A H can get a credit card based on his income - run up the debt - divorce and the wife is strapped with 1/2 the debt. I think the law needs to protect SAHM more and that debt should not be her responsiblity.
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Not sah but work pt wih minimal income. I was rejected for credit recently. Just applying for the amazon card's discount so I didn't really need the card but was surprised about the new law. I was only asked about income not assets. I suppose I could just split our hhi next time and claim half for myself but wouldn't that be dishonest and couldn't I get caught during credit check? Thankfully I have plenty of my own credit from before the law was enacted. [/quote]

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