Skip to main content
No. of Recommendations: 3
In two posts now, someone is asking about obtaining credit one way or another without current work or a short work history. Doesn't employment history(along with income) figure into the approval of new or different credit ?

Work history can impact a lending decision. What's most important is that you have verifiable current income that's expected to continue. Many lenders will take confirmed work history of at least 2 years in the same industry or the same employer as an indicator that the income should continue. (Whether that's a good decision or not is debatable.) For those currently without work, or who are on a short term contract, the lender is likely to require some other assurance that they will get paid, like a lower LTV level on a house for an equity loan.

AJ
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.