Reply to Enlighten me about SAHMs and credit cards

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[quote=Anonymous][quote=Anonymous]I didn't read the law, but I could easily see where a SAHP would be upset.  I would imagine that for those families that have decided that one parent stay at home, they have viewed it as a partnership where one parent brings home income and the other manages the household.  I know lots of families where the SAHP manages the finances.  So to tell that person that they can't get a credit card is insulting.  They have "income" in that they made a decision that their partner would earn the income.  They are allowing that person to earn the income by taking care of everything else.  While not a SAHP, I do take on more at home to allow my spouse to thrive at his work.  I imagine this would be multiplied if I were a SAHM.

While I do see the need to crack down on credit, [b]I do feel that most of the responsibility falls on the credit card holder[/b].  While I can understand there may be instances where the government needs to step in to safeguard those who may not know better, I do think it is easy to go too far in the other direction.  I would think the law would have a way of taking into account marital status and just look at household income.  [/quote]

And when you, as the SAHP credit card holder, don't have an income, exactly how is the bank going to be assured they'll recoup their money?

I'm all for stricter controls. The banks aren't telling SAHPs how to spend their money, but they are asking for reasonable assurances that customers aren't going to default. If you don't have an income, then there's no way you can assure them of that. I applaud the stricter regulations and hope this goes some way toward getting us out of the mess we've gotten ourselves into.[/quote]

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