Stay-at-home parents are voicing their opposition to a provision in the Credit CARD Act that they say denies them fair access to credit.
Holly McCall, a stay-at-home mom from Vienna, Va., who started the campaign on Change.org in partnership with the grassroots advocacy group MomsRising, plans to deliver more than 30,000 petitions to the Consumer Financial Protection Bureau Tuesday.
Her movement asks the CFPB to change the regulation that prohibits non-working spouses from using household income when applying for credit cards.
McCall says she has “an impeccable” credit score and manages the majority of her family's finances, including 95% of household purchases. She started her petition after she was denied her own credit card, because she has no individual income, and was told that in order to be approved for a card she would need her husband's permission.
“Because I'm a stay-at-home mom, I can't get my own credit card. My husband has to give me permission to get my own line of credit. This is demeaning and flat out unfair. This isn't 'Mad Men', it's 2012,” McCall said.
According to tracking on change.org's website, McCall's petition current has 33,200 signatures with a goal of 35,000.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
