Hi! I am looking for some… advice, perhaps, on what I should do about the fact that my “student loans outweigh my income.” I’m currently on my father’s credit card account, so I’ve been building credit, but upon trying to open a credit card with my bank they said I could not. (Luckily, they didn’t deny me, simply filed the application as incomplete, so my credit score is still good.) However, I don’t understand their reasoning. The woman on the phone said to me, “your student loans are greater than your income.”
To be clear, I am not currently paying off those loans, however, I do pay off the interest on the unsubsidized ones, so it doesn’t compound.
My income is less than my whole loan amount because I’m a student, but regardless, I’m not really sure what metric they’re using… calculated loan payments for after I graduate? monthly income? Yearly?
I want to apply for a credit card, and I don’t want this to stand in my way again. Any help would be appreciated.
P.S. It’s been suggested to me that I get a “student” credit card, but my credit score exceeds the range for those (at least, the ones on this site).