On the Credit Card Issue

I did find this little tidbit :

Building individual credit

Addressing the issue of building of an individual credit history, the board suggested another path for stay-at-home spouses and other consumers without sufficient incomes to open their own credit card accounts -- becoming authorized users on the account of a spouse. In most cases, credit bureaus will note the participation in that account of the nonworking spouse, a process that will create a credit history, though one that may not be particularly robust.

 

Okay, so what this tells me is that a stay at home mom or dad has to get their spouse's  permission to sign on their spouse's credit card.  Oh how progressive!

Never fear because if you live in a community property state, this may not affect you.  From the same source:

The Federal Reserve also pointed out that in community property states -- including California and Texas -- nonworking spouses can assert joint ownership of property (including income) acquired by a working spouse. In those cases, issuers can consider the spouse's income when considering a credit card application solely in the name of the stay-at-home spouse, the board said.

Whew, well I'm glad they cleared that up (not).

There are so many things that a stay at home mom or dad will not be able to do without a credit card...  buy and airline ticket, rent a car, etc. etc.

Yep, stay at home parents, you have now been lowered to second class citizen in the eyes of the Fed because the work you do (in their eyes) isn't worth squat.  Might as well cart your kids off to daycare and public school so that the government can have more control over the raising of your kids.....  yay!