The government has taken one of our (stay at home moms and dads) greatest rights, the ability to build and have credit in our name.

As of Oct 2011 stay at home moms and dads can no longer use household income when applying for a credit card. They need to use their own income/salary when applying for a credit card.

What? We have no income (or very little) we quit our salaried jobs to stay at home and raise our children.

I do all the finances in my house. I have always been the one to get out the credit cards, signing my husband up as a secondary card holder. My credit score is above 750 and I am no longer eligible to take out a credit card. Applying for a new credit card and not being eligible is how I found out about the new “rule”.

Based on what this law says stay at homes have  to use their  “individual income".  

Well, in most cases that income would be zero. If we were to use our "individual Income"  when filing taxes we would qualify for, the low income tax credit, subsidized housing ……etc.

FEDERAL RESERVE press release

Release Date: March 18, 2011
For immediate release
The Federal Reserve Board on Friday approved a rule amending Regulation Z (Truth in Lending) to clarify aspects of prior Board rules implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit Card Act). This rule is intended to enhance protections for consumers who use credit cards and to resolve areas of uncertainty so that card issuers fully understand their compliance obligations.
Consistent with the act, the Board's rule addresses practices that can result in extensions of credit to consumers who lack the ability to pay.

Specifically, the rule states that credit card applications generally cannot request a consumer's "household income" because that term is too vague to allow issuers to properly evaluate the consumer's ability to pay. Instead, issuers must consider the consumer's individual income or salary.