How to answer whether I own a home or rent, if I do neither?

Question by DC Skater: How to answer whether I own a home or rent, if I do neither?
I was filling out an application for a credit card when the question of whether I own a home or rent came up. I am a student and still live at home with my parents while I work and go to school. What would be the best way to answer that since you have to choose one or the other.

Best answer:

Answer by Aragorn
Tell them you rent. That way they don’t expect that you’ll be carrying a mortgage. Otherwise (if you said you own a home) they would expect to see proof and records of that in your credit history.

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4 Responses to How to answer whether I own a home or rent, if I do neither?

  1. bdancer222 says:

    Don’t lie on the application. The correct answer would be “live with parents”. But if you can’t write that in, leave it blank or insert N/A.

  2. andy says:

    I would put down that you rent your home especially if you help your parents out.

  3. cainvest1 says:

    You rent. Your rent is 0.

    You will need a parent to co-sign the application if you are under 21 years of age.

  4. florida keys taken may 2010 says:

    Then you won’t qualify. So don’t waste your time on it