Low Income Credit Cards

Rates and Fees verified correct on March 31st, 2015

Credit cards for low income earners do not require a high salary to apply

Low income credit cards are available to applicants who are unemployed, receive government benefits or those on a retirement income.

There are certain credit cards aimed at low income earners. Generally speaking, to apply for a credit card you need to be earning more than $15,000 per year. You can find the minimum income application criterion listed at the bottom of each credit card’s review and application page. If there is no minimum income requirement listed, then anyone is able to apply for the product, the important thing is that you have some form of income.

St.George Vertigo Visa

Low Income Credit Card

The St George Vertigo credit card is a simple low rate credit card for making everyday purchases on. It features a low ongoing rate on purchases, a low balance transfer offer and a low annual fee. Minimum income for credit card application is per annum.

  • $55 p.a. annual fee
  • 0% p.a. for 3 months (reverts to 13.24% p.a.) on purchases
  • 0% p.a. for 18 months on balance transfers
  • Cash Advance Rate of 21.49% p.a.
  • Up to 55 days interest free

Low income credit cards with a minimum $15,000 income

Rates last updated March 31st, 2015

Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
St.George Vertigo Visa
St.George Vertigo Visa
Low ongoing rate on purchases, introductory balance transfer offer, plus a low annual fee. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info
Westpac Low Rate Card
Westpac Low Rate Card
A simple low interest rate card featuring a low ongoing rate on purchases and balance transfers. 0% p.a. for 3 months (reverts to 13.49% p.a.) 0% p.a. for 16 months $59 p.a. 21.49% p.a. Go to site More info
Bankwest Breeze MasterCard - Exclusive Offer
Bankwest Breeze MasterCard - Exclusive Offer
Exclusive Offer to finder.com.au
Enjoy interest-free shopping for 13 months with 0% p.a. on purchases.
0% p.a. for 13 months (reverts to 12.24% p.a.) $59 p.a. 21.99% p.a. Go to site More info
ANZ Low Rate
ANZ Low Rate
Save with a low rate on purchases and balance transfers with a low annual fee and ongoing purchase rate. 13.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $58 p.a. 21.74% p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low rate on your everyday purchases with a low balance transfer deal. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info
HSBC Credit Card
HSBC Credit Card
No annual fee for life, plus a low balance transfer offer. 17.99% p.a. 0% p.a. for 6 months $0 p.a. 21.99% p.a. Go to site More info
Bankwest Breeze MasterCard
Bankwest Breeze MasterCard
Low interest rate on purchases and balance transfers. 12.24% p.a. 0% p.a. for 4 months $59 p.a. 21.99% p.a. Go to site More info
Coles No Annual Fee MasterCard
Coles No Annual Fee MasterCard
Enjoy a $10 off your Coles Supermarket shop for new customers plus no annual fee for the life of the card whist earning flybuys points. 19.99% p.a. $0 p.a. 19.99% p.a. Go to site More info
Citibank Rewards Credit Card - Classic Card
Citibank Rewards Credit Card - Classic Card

The Citibank Rewards Classic Card gives you automatic benefits and a security guarantee.

20.99% p.a. 0% p.a. for 18 months $89 p.a. 21.74% p.a. Go to site More info
Coles Rewards Mastercard
Coles Rewards Mastercard
Get $10 off your Coles Supermarket shop every time you redeem 2,000 flybuys points, plus a low annual fee of $49. 19.99% p.a. $49 p.a. 19.99% p.a. Go to site More info

Has your credit card application been declined? Check out some of the common reasons why credit card applications get rejected.

Owning a credit card has become a necessity of modern life. Whether you want to make online purchases or reservations at a hotel or pay bills for instance, credit cards are as vital as they are handy. Don’t let a low income mean you miss out on owning a credit card. If you’re a low income earner, here are some tips you can use to get your credit card application over the line.

Remember the following when completing a credit card application on a low income

We will start by saying that it is illegal to lie about your income when you apply for a line of credit. But it’s important that you have a think about the forms of income you may be able to list when you apply for a low income credit card. Think laterally about all your possible forms of income.

Joint applications

Consider a joint credit card application with your spouse. Joint credit card applications are based on the household’s combined income. If you were unable to meet the minimum income requirement, the earning power of a spouse may be enough to put you above the minimum requirement.

Too much debt?

The ratio of assets to debts plays an important role in the success of an applicant’s credit card application.

Take this example. ‘Person A’ has a credit card with a debt of $5,000. When ‘person A’ applied for the credit card, they took the maximum credit limit made available to them ($5,000). ‘Person A’ is unhappy with the amount of interest they’re paying on the $5,000 balance so they decide to transfer the balance to a new credit card. ‘Person A’ applies for a credit card (all application criteria including the minimum income requirement are met), but is declined due to an insufficient income. In the time between the first and second credit card applications, ‘person A’s’ income has not increased, their debt level has increased. The relationship between your assets and your debts is know as your debt serviceability ratio. Eliminate your debts, pay off and close other credit cards or personal loans for example, if you’re having trouble getting approved for a credit card.

Not enough money?

An obvious one, but must one that must be said. A second income (or full time employment) may be enough to get approved for a credit card. Even if it’s something as small as mowing someone’s lawns on the weekend. It can be included in the application.

Renting?

Be sure to just put down your share of the rent. Don’t enter the combined rent for the household.

Low income credit cards are available. You simply have to find the one that is best for you. It may mean paying off some debts or reducing your expenses in order to gain approval. But, once it is done you will have the convenience of credit card use while also establishing a good credit file.

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This page was last modified on 18 February 2015 at 15:39.

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32 Responses to Low Income Credit Cards

  1. Default Gravatar
    kabu | February 13, 2015

    my present salary is 10000 i can get credit card

    • Staff
      Jonathan | February 13, 2015

      Hi Kabu, thanks for your inquiry!

      Generally speaking, to apply for a credit card you need to be earning more than $15,000 per year. There are credit cards which have no minimum requirements, rather you will be assessed on your ability to service the minimum credit limit. This can be found in the application requirements table at the bottom of the card’s review. The minimum income requirement for each card is available in the table of the page.

      I hope this helps!

      Cheers,

      Jonathan

  2. Default Gravatar
    soumya | January 28, 2015

    hai,
    i have an income of $8600 per month,whether am i eligible to apply for a credit card?

    • Staff
      Jonathan | January 29, 2015

      Hi Soumya, thanks for your inquiry.

      Generally speaking, to apply for a credit card you need to be earning more than $15,000 per year. There are credit cards which have no minimum requirements, rather you will be assessed on your ability to service the minimum credit limit. This can be found in the application requirements table at the bottom of the card’s review. The minimum income requirement for each card is available in the table of the page.

      I hope this helps!

      Cheers,

      Jonathan

  3. Default Gravatar
    roshan | December 24, 2014

    Hi I want to have a credit card , but I have been Australia for just a month but I have start doing a job and I earn like 500 per week after tax. MY question is am I eligible to get card now. iam a part time worker as iam student

    • Staff
      Elizabeth | December 24, 2014

      Hi Roshan,

      Thanks for your question.

      There are some card providers who offer cards to temporary residents. You can find these lender on this page. Just browse through the cards they have available and ensure you meet the eligibility requirements, and it may also be worth getting in contact with the provider before you apply to ensure your eligibility. As long as you meet the minimum income and employment criteria, though, it shouldn’t matter that you are a student.

      I hope this has helped.

      Thanks,

      Elizabeth

  4. Default Gravatar
    claudia | December 23, 2014

    I WOULD LIKE TO APPLY FOR A CREDIT CARD…MY INCOME FOR 2013 WAS 15,000 BUT IT HAS INCREASED TO APPROX 20,000 2014…HOW WILL MY CREDITORS KNOW ABOUT THIS AMOUNT IF LAST YRS INCOME WAS LOWER BUT THIS YRS INCOME HAS INCREASED..THE ONLY WAY THEYLL KNOW IS WHEN I FILE MY INCOME TAX WHICH WONT BE FOR ANOTHER FEW MONTHS…WHEN THEY CHECK MY INCOME TAX STATUS THEYLL ONLY SEE LAST YEARS AMOUNT OF EARNINGS NOT THIS YRS..

    • Staff
      Elizabeth | December 23, 2014

      Hi Claudia,

      Thanks for your question.

      When you fill out a credit card application you’re required to list your current income, so you would list $20,000 p.a. if that’s how much you’re making per year. As long as you have documents to prove that you earn this much then you will be able to claim this as your income. This doesn’t have to be your tax return but can also be payslips, etc.

      I hope this has helped.

      Thanks,

      Elizabeth

  5. Default Gravatar
    sagar | December 17, 2014

    I want to credit card my salary is 15000 per month

    • Staff
      Elizabeth | December 18, 2014

      Hi Sagar,

      Thanks for your question.

      Your income ($15,000 per month) will make you eligible for a wide range of credit cards. You can start your search on this page and decide what credit card features are important to you – rewards, low fees, low interest, etc. – and then check you meet the eligibility criteria for the card you’re interested in. This is listed on the bottom of the credit card review pages.

      I hope this has helped.

      Thanks,

      Elizabeth

  6. Default Gravatar
    suryakumar | October 10, 2014

    Dear sir/madam

    my name is suryakumar i earning monthly 15500.00 i need credit card can i apply please give me reply i am getting cheque every month of salary

    Regards
    suryakumar

    • Staff
      Elizabeth | October 13, 2014

      Hi Suyakumar,

      Thanks for your question.

      You can compare a range of credit cards using this page. You can click on the individual cards to read reviews and to see the eligibility criteria, which will usually list a minimum age, income and employment requirement.

      Hope this has helped.

      Thanks,

      Elizabeth

  7. Default Gravatar
    Aakash | September 13, 2014

    I m earning monthly 8 00 0 rs is my take home so may I able to get a credit card

    • Staff
      Shirley | September 15, 2014

      Hi Aakash,

      Thanks for your question.

      Unfortunately the cards on creditcardfinder.com.au are only available to Australian residents, or in some cases, temporary residents.

      Cheers,
      Shirley

  8. Default Gravatar
    Grace | June 18, 2014

    I am extremely low income. I make only $6,420 a year. I live in a low income apartment where I only pay $50 a month in rent. I am a single mother of 2 children. And I am going to online school. Would I qualify for anything?

    • Staff
      Shirley | June 19, 2014

      Hi Grace,

      Thanks for your question.

      Unfortunately we can’t comment on whether you may qualify for anything, you may find a product suitable on our low income credit cards page.

      Cheers,
      Shirley

  9. Default Gravatar
    Chris | April 4, 2014

    Hi there. I’m currently a college student and recently applied for a student credit card through Capitol One. However, I was denied due to insufficient income. I tutor on campus and grade for a professor for some income, but it’s not a large amount, definitely not $15,000. But I don’t have much extra time to pursue an additional job to make more money. I knew this would be a problem before I applied, but this is the first student card I’ve applied for, and I figured that if any card wouldn’t care about income, it’d be a student card. Apparently I was wrong.

    So is there a better card I can choose out there? One without a minimum income? Or maybe there is just something I can do to bypass the income requirement? Please help! Thanks!

    • Staff
      Jacob | April 4, 2014

      Hi, Chris.

      Thanks for your question.

      The minimum income criterion is a solid requirement for a credit card. The Commonwealth Bank also offer a student credit card, which may be suited to your purposes. There is no minimum credit limit with this product. The important thing to note here is that you have to earn enough to service the minimum credit limit on the card. You can find this information listed on the page.

      An alternative is a prepaid Visa or MasterCard. Obviously, as you’re using your own money, there’s no minimum income requirement and no credit. But you’re able to do many of things you can do with a credit card, like shop online and so on. You can compare prepaid cards on this page.

      I hope this helps.

  10. Default Gravatar
    | March 13, 2014

    Hi,

    I have an annual income of around $16000. However (because we have not reached the end of the financial year yet) the Year To Date figure on my payslips is under $15000. Would I still be eligible to apply for a credit card that has a minimum income requirement of $15000?

    Officially, I’m employed on a ‘casual’ basis, however my weekly hours and income are very regular. Is this something that a credit card provider would be wary of?

    Thanks for your help.

    • Staff
      Jacob | March 14, 2014

      Hi, M.

      This won’t be a problem.

      If you meet the eligibility requirements, including the minimum income requirement, you can apply for a credit card product.

      Please let us know if you require any further information.

Related Posts

Credit Cards Comparison

Rates last updated March 31st, 2015
Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
St.George Vertigo Visa
St.George Vertigo Visa
A low annual fee and low interest rate offer on balance transfers. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info
Virgin No Annual Fee Credit Card
Virgin No Annual Fee Credit Card
Take advantage of the 0% p.a. for 14 months balance transfer offer 18.99% p.a. 0% p.a. for 14 months $0 p.a. 20.99% p.a. Go to site More info
Citi Simplicity Card
Citi Simplicity Card
$0 annual fee credit card with a long term balance transfer offer. 19.99% p.a. 0% p.a. for 12 months $0 p.a. 19.99% p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 10,000 Velocity Points when you spend $5,000 or more in first 3 months. 0% p.a. for 16 months on balance transfers. 20.74% p.a. 0% p.a. for 16 months $129 p.a. 20.99% p.a. Go to site More info
American Express Qantas Discovery Card
American Express Qantas Discovery Card
Receive 7500 Qantas Points and pay no annual fee ever. Plus earn 1 Qantas Point per $1 spent on all your everyday purchases. 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au 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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