Australian banknotes with credit card

Low income credit cards

Compare credit cards for low income earners in Australia and find a card that suits your financial situation. 

Although credit cards play a significant role in many people’s day-to-day transactions, it can be a challenge for individual’s with a low income to find the right card for them. However, there are still a number of valuable cards on offer to those in the lower income bracket. Most low income cards also keep fees and charges to a minimum, and some even come with introductory interest rate offers. Use this guide to compare your options and find a card that is eligible with your income today.

What are the features of a low income credit card?

  • Lower minimum income requirements. As the name suggests, low income credit cards usually have lower minimum income requirements starting at $15,000 p.a.
  • Lower annual fee. Low income credit cards usually come with lower annual account keeping fees than more premium cards. You might even be able to find a low income card that doesn’t charge ongoing annual fees or has a $0 annual fee promotional offer.
  • Lower interest rate. Low income cards tend to double as low rate cards, and there’s a good possibility of finding a card that charges a purchase rate of less than 12% p.a. Look out for low income cards with low or 0% promotional interest rates as well.
  • Interest-free days. Most low income cards offer interest-free days on purchases, though the number of days (such as up to 55 days) would vary from card to card. To take advantage of these interest-free days, you have to pay your account’s closing balance completely every month.
  • No frills features. Since such cards keep the fees and interest rates low, most don’t offer extras like rewards, access to a concierge service, travel benefits, and complimentary insurance covers.

What are the benefits of using a low income credit card?

  • Realistic eligibility requirements. Your annual income is one of the many factors a lender will consider when reviewing your credit card application. So, you’ll have increased chances of approval when applying for a card that you meet the income requirement for.
  • Lower fees and rates. Low income credit cards usually come with fewer extra features, so it’s likely the card will also come with lower fees and rates, helping to keep your card costs to a minimum.
  • Global acceptance. Most low income credit cards in Australia come with Visa or MasterCard affiliations, so you can look forward to using any such card when travelling overseas. When you use your card overseas, you would, in all likelihood, have to pay international transaction fees.
  • Transfer balances. If you’re struggling to repay a debt, many low income credit cards come with 0% balance transfer offers for up to 18 months.
  • Build credit. If you’re using a low income credit card with low interest rates, you could use the card to build up a healthy credit rating if you pay off your debt each statement period. With good creditworthiness, you’ll have increased chances of approval when applying for other loans in the future.

What should I consider when comparing for a low income credit card?

Applying for a low income credit card requires that you pay attention to certain important aspects, and here’s what you need to know:

    • Minimum income requirements. Not all cards have the same minimum income requirements. While some allow applications from individuals who earn $15,000 p.a. or more, some others increase this requirement to $20,000 or $25,000.
    • Earnings. If you don’t meet the minimum income requirement of any given credit card, you still have options. You can, for instance, add your spouse’s income to your income as the total household earning, and this is something banks can work with. If this is not an option, start by opening a transaction account and try to increase your work hours for a few months so you can meet minimum income requirements.
    • Credit history. If you suffer from a poor credit history, work on repairing your credit before applying for a credit card. You can consider getting a temporary part-time job to increase your monthly income. Making sure you provide all the required information in your application also increases chances of approval.
    • Affordability. Before you apply for the card, make sure you’ve confirmed if you can afford it. If you end up borrowing more than you can repay and build up debt, this will have a negative impact on your credit rating. Use the reviews on finder and read the relevant product disclosure statement to make sure you understand the costs of the card before applying.
Westpac Low Rate Card

Low Minimum Income Credit Card Offer

The Westpac Low Rate Visa offers low interest rates on balance transfers and purchases, plus a competitive annual fee. You can also use paperless eStatements to have your bills electronically delivered, saving paper and time.

  • $59 p.a. annual fee
  • 1% p.a. for 12 months (reverts to 13.49% p.a.) on purchases
  • 0% p.a. for 16 months on balance transfers
  • Cash Advance Rate of 21.49% p.a.
  • Up to 55 days interest free
  • Minimum Income Requirement of $15,000 p.a.

Low Income Credit Cards Comparison

Rates last updated October 25th, 2016.

ME Bank frank Credit Card

Interest rate changed from 9.99% p.a. to 11.99% p.a. on purchases, balance transfers and cash advanc

September 19th, 2016

Virgin No Annual Fee Credit Card

Balance transfer offer has been extended to 31 October 2016.

September 26th, 2016

Westpac Low Rate Card

Promotional BT period has been changed from 18 to 16 months and is valid until 30 January 2017.

October 12th, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Min credit limit Max credit limit Minimum Income
Westpac Low Rate Card
Westpac Low Rate Card
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 16 months $59 p.a. $1,000 $25,000 $15,000 Go to site More info
ANZ Low Rate
ANZ Low Rate
0% p.a. for 6 months (reverts to 13.49% p.a.) $58 p.a. $1,000 $15,000 Go to site More info
ANZ First Visa Credit Card
ANZ First Visa Credit Card
19.74% p.a. 0% p.a. for 18 months with 3% balance transfer fee $30 p.a. $1,000 $15,000 $15,000 Go to site More info
ME Bank frank Credit Card
ME Bank frank Credit Card
11.99% p.a. $0 p.a. $1,000 $15,000 $25,000 Go to site More info
Newcastle Permanent Value+ Credit Card
Newcastle Permanent Value+ Credit Card
11.49% p.a. $49 p.a. $500 $20,000 Go to site More info
ANZ Frequent Flyer
ANZ Frequent Flyer
19.99% p.a. $95 p.a. $1,000 $15,000 $15,000 Go to site More info
ANZ Rewards Credit Card
ANZ Rewards Credit Card
18.79% p.a. $80 p.a. $1,000 $15,000 $15,000 Go to site More info
Virgin No Annual Fee Credit Card
Virgin No Annual Fee Credit Card
18.99% p.a. 0% p.a. for 18 months with 2% balance transfer fee $0 p.a. $6,000 $30,000 $25,000 Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) $6,000 $35,000 Go to site More info
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Frequently asked questions about low income credit cards

What eligibility criteria do I have to meet to apply?

Apart from meeting minimum income requirements, you should be at least 18 years old, a permanent Australian resident and have a healthy credit history.

How quickly can I complete the application?

If you wish to submit an online application and have the required information at hand, the process should take around 10 to 15 minutes, depending on the card provider.

Do low income cards provide rewards?

The norm is that they don’t, but the ANZ Frequent Flyer credit card is a low income card that comes linked to the Qantas Frequent Flyer program.

Do I have to pay a fee for balance transfers?

This depends on the credit card you choose. While some cards offer fee-free balance transfers, some others might require you to pay a one or two percent balance transfer fee.

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18 Responses to Low income credit cards

  1. Default Gravatar
    Mel | September 14, 2016

    I have been ill for the past 4 years and as a result sent me into bankruptcy. I am now out of my bankruptcy time. My only income is from government disability payments, which equate to approx $28000 pa. Yet I have tried to apply for a low credit amount and still being declined. What can I apply for that WILL be approved and give me a chance to redeem my unfortunate past circumstances.

    • Staff
      Arra | September 22, 2016

      Hi Mel,

      Thanks for your inquiry.

      Please note that is an online comparison service and is not in a position to recommend specific products, providers and services.

      You might want to check our guide about getting a credit card if bankrupt or repaying debt to give you some tips on increasing your chance of getting approved for a credit card in the future.

      I hope this has helped.


  2. Default Gravatar
    Aman | November 10, 2015

    my annual income is it possible to get credit card

    • Staff
      Jonathan | November 11, 2015

      Hi Aman, thanks for your inquiry!

      Please see this page for low income credit cards starting from $15,000.



  3. Default Gravatar
    dhan | October 12, 2015

    hi, i am looking for low base credit card, my monthly income14500/- is it possible get credit card??

    • Staff
      Jonathan | October 13, 2015

      Hi Dhan,

      Thank you for your inquiry.
      The minimum income required for a credit card application varies depending on the bank but is generally at least $15,000. You may want to check the eligibility requirements on your preferred credit card and speak to a bank representative.

      To understand how other eligibility requirements can affect your application, you can refer on this page.

      I hope this helps.



  4. Default Gravatar
    Jason | September 1, 2015

    I earn 20k a year, and am looking for a 4k credit card. What are my chances?

    • Staff
      Jonathan | September 2, 2015

      Hi Jason, thanks for your inquiry!

      Your eligibility for being approved for a credit card depends on the specific bank’s lending requirements and minimum income requirement. The income requirements/ application requirements are available on each review page.



  5. Default Gravatar
    Tricia | February 18, 2014

    Hi im looking for a transfer balance credit card! I have two I would like to put together to make it easier for me this is the amount of 5,000! I am a low income earner of about 19,,000 per year! Can you please point me in the right direction! :)

    • Staff
      Jacob | February 19, 2014

      Hi, Tricia.

      Thanks for your question.

      This page features cards that are suitable for people with a low income. You may also want to have a look at our low rate credit card comparison page.

      You can enter your details into the calculator at the top of the comparison table to see which card offers what in terms of savings when you transfer a balance. You can also use the check boxes to the left of the card name in the table (and then click compare) for a side by side comparison of credit cards. This will allow you to compare multiple credit cards and easily view things like income requirements and fees.

      Let us know if you have any further questions about finding a credit card and I hope this has answered your question.

  6. Default Gravatar
    Judith | June 14, 2013

    Hello. I attempted to do a balance transfer from my Citibank mastercard to Bendigo basic black. I did try several times online only for those applications being terminated half way through. I then went to my local Bendigo branch and started the process there. My aim was to a have a lower interest rate and better manage my credit card debt. I earn $900 a fortnight gross and own my own home. Bendigo have finally advised after much stuffing around that I do not meet their lending criteria. Please advise what are my options now and does that fact that I have made several applications have an effect on future applications? Thank you cheers Judith.

    • Staff
      Jacob | June 14, 2013

      Hi Judith. Thanks for your question. If you’ve applied for credit a couple of times in the recent past this may have some bearing on your future applications. There is no hard and fast rule about how many times you can apply for credit in a certain time frame before it negatively affects your application, but try to think about it from the lender’s perspective. If they can see that you’ve applied for credit six times in the last month, it would appear to them that you are a credit hungry customer and may be grounds for declining your application. But it’s not all bad if you have had a few applications on your credit file in the past. If you’ve been able to successfully manage the products you’ve applied for then there no reason why you shouldn’t be able to keep applying for credit (within your ability to repay). One possible action is to order a copy of your credit file. This will let you see what the lender sees when you apply for credit. You may want to consider waiting to apply for more credit. Hope this has helped and let us know if you need anything else. Jacob.

  7. Default Gravatar
    Dawn | April 3, 2013

    I earn 5000 a year can I get a low interest credit card

    • Staff
      Jacob | April 3, 2013

      Hi Dawn. I’m not sure. If you would like further clarification, speak to the lender directly. People on low incomes do get approved though, your credit limit won’t be high. Jacob.

  8. Default Gravatar
    Jitendra | March 15, 2013

    Hi I want credit card but my salary is low only 9000 thousand in hand per month so please suggest

    • Staff
      Jacob | March 19, 2013

      Hi Jitendra. Thanks for your question. With an annual income of only $9,000, it will be difficult to get a credit card. You should check this page, it’s our low rate credit card comparison page, it has information on low rate cards, which have the lowest entry requirements out of all the cards on the market. You can still try and apply for a low fee or low rate card, but if you’re approved, your limit is likely to be only approx. $500.

  9. Default Gravatar
    Megan | September 28, 2012

    Hello I was just wondering if I can get a credit card on a single parenting income and if so what one ?

    • Staff
      Jacob | October 3, 2012

      Hi Megan. Thanks for your question. Each credit card has a minimum income requirement that will show how much you must be earning before you can apply. If you do not meet the minimum income requirement, you can try a prepaid credit card, although with these cards you will only have access to your own money. Cheers.

Credit Cards Comparison

Rates last updated October 25th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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