If i’m a student and unemployed, what should I report as my income on a credit card application?

3 Comment(s)

1. Yes, a scholarship is considered income by the IRS. However, a loan is not income.

   If you can’t qualify for a regular credit card, you could look at getting a secured credit card; that’s the type where you put in some cash up front, and that amount of cash *is* your credit limit.

   sashazur | Sep 10, 2009 | Reply

2. You can’t report your scholarship or loans as income. If you lie and say you are working at a store and you earn $xxx.xx per week – this will be shown on your Credit Report. If indeed, some crazy credit card company is dumb enough to give you a credit line based on your lies, and you feeling so good about pulling one over on them, go on a buying binge, and go to your limit – only be paying 15.00 (minimum) per 500 per month on this card. Then you’re on the slippery slid into abject indebtedness, as you try to borrow your way out of it. Good Luck!

   dusty_titus | Sep 12, 2009 | Reply

3. You have no income and need to apply for the special Studen Credit Cards. (possibly only available if one of your parents co-signs).

   Reena | Sep 13, 2009 | Reply

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