Stay-at-home spouses and partners should soon find it easier toget a credit card, according to the Consumer Financial ProtectionBureau.

The CFPB on Monday sent to the Federal Register a rule proposedin October that allows credit card issuers to consider income thata stay-at-home applicant, age 21 or older, shares as a third partyif it's reasonable to assume the person has access to it.

The rule will take effect upon publication and credit cardissuers will have six months to comply with the new regulation, theCFPB said.

“Stay-at-home spouses or partners who have access toresources that allow them to make payments on a credit card can nowget their own cards,” said CFPB Director Richard Cordray.

CUNA and NAFCU had both expressed their support for the changeto Reg Z in the 2009 Card Act, which until now generally allowedonly the applicant's own income or assets to be considered whenapplying for a new card or increased credit limit.

“Information received from industry participants suggests thatotherwise credit-worthy individuals have been declined for creditcard accounts under the current regulation, even though they havethe ability to manage the debt,” the CFPB said.

“The data suggests that a significant number of theseindividuals may be stay-at-home spouses or partners with access toincome from an employed spouse or partner,” the bureau said, addingthat it considered more than 300 comments that were submitted afterthe final rule was proposed.

The CFPB said census data indicates that over 16 million marriedpeople – or about one of out of every three married couples – maynow have easier access to credit cards.

“Today's final rule is an example of the bureau's commitment toworking with consumers and financial institutions in order toensure responsible access to credit for American families,” Cordraysaid.

The final rule is available online.