Low Income Credit Cards

Posted February 3rd, 2010 and last modified March 26th, 2014

Getting approved for low income credit cards does not have to be challenging. Once you know which cards you meet the criteria for all you have to do is apply for them. In some cases you may need to reduce your monthly expenses in order to gain approval.

Low income credit cards can be a very good thing for those people who have a small income but still want the convenience that comes with credit card ownership. It is nearly impossible to get through life without a credit card in your wallet. Even people on a tight budget want or need to make on line purchases or reservations, which can often only be done with a card. Owning a credit card has become a necessity. Do not think that your income is too low for most credit cards, there are some specifically made to suit your financial constraints.

ANZ Low Rate

Low Income Credit Card

The ANZ Low Rate 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 $15,000 per annum.

  • $58 p.a. annual fee
  • 13.49% p.a. on purchases
  • 0% p.a. for 12 months on balance transfers
  • Cash Advance Rate of 21.74% p.a.
  • Up to 55 days interest free
  • Minimum Income Requirement of $15,000 p.a.

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

Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
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 12 months $58 p.a. 21.74% p.a. Apply Now For The ANZ Low Rate
Read More About The ANZ Low Rate
Commonwealth Bank Low Rate Credit Card
Commonwealth Bank Low Rate Credit Card
A credit card with a low ongoing purchase rate. Receive up to $200 cash back when you apply between 1 March 2014 and 30 April 2014. 12.99% p.a.* 5.99% p.a. for 5 months $78 p.a. ($48 for qualifying customers) 21.24% p.a. Apply Now For The Commonwealth Bank Low Rate Credit Card
Read More About The Commonwealth Bank Low Rate Credit Card
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. Apply Now For The HSBC Credit Card
Read More About The HSBC Credit Card
Commonwealth Bank Low Fee Credit Card
Commonwealth Bank Low Fee Credit Card
A credit card with a low interest rate. Receive up to $200 cash back when you apply between 1 March 2014 and 30 April 2014. 19.74% p.a. 5.99% p.a. for 5 months $24 p.a. ($0 for qualifying customers) 21.24% p.a. Apply Now For The Commonwealth Bank Low Fee Credit Card
Read More About The Commonwealth Bank Low Fee Credit Card
St.George Vertigo MasterCard
St.George Vertigo MasterCard
Low ongoing rate on purchases, introductory balance transfer offer, plus a low annual fee. 13.24% p.a. 0% p.a. for 14 months $55 p.a. 21.49% p.a. Apply Now For The St.George Vertigo MasterCard
Read More About The St.George Vertigo MasterCard
Aussie Classic Low Rate MasterCard
Aussie Classic Low Rate MasterCard

With Aussie's low 0% p.a on balance transfers for the first 9 months, you may be able to save on interest repayments.

12.49% p.a. 0% p.a. for 9 months $49 p.a. 20.99% p.a. Apply Now For The Aussie Classic Low Rate MasterCard
Read More About The Aussie Classic Low Rate MasterCard
Bankwest Breeze MasterCard
Bankwest Breeze MasterCard
Low interest rate on purchases and balance transfers. 11.99% p.a. 0% p.a. for 13 months $59 p.a. 21.99% p.a. Apply Now For The Bankwest Breeze MasterCard
Read More About The Bankwest Breeze MasterCard
Bank of Melbourne Vertigo Credit Card
Bank of Melbourne Vertigo Credit Card
Enjoy a low rate on your everyday purchases with a low balance transfer deal. 13.24% p.a. 0% p.a. for 14 months $55 p.a. 21.49% p.a. Apply Now For The Bank of Melbourne Vertigo Credit Card
Read More About The Bank of Melbourne Vertigo Credit Card
Westpac Low Rate Card
Westpac Low Rate Card
A simple low interest rate card featuring a low ongoing rate on purchases and balance transfers. 13.49% p.a. 0% p.a. for 14 months $45 p.a. 21.49% p.a. Apply Now For The Westpac Low Rate Card
Read More About The Westpac Low Rate Card
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. 0.9% p.a. for 12 months $44 p.a. annual fee for the first year ($89 p.a. thereafter) 21.74% p.a. Apply Now For The Citibank Rewards Credit Card - Classic Card
Read More About The Citibank Rewards Credit Card - Classic Card
Coles Rewards Mastercard
Coles Rewards Mastercard
A low annual fee credit card with a low interest rate. 19.99% p.a. $49 p.a. 19.99% p.a. Apply Now For The Coles Rewards Mastercard
Read More About The Coles Rewards Mastercard

If you are concerned that you might still not meet the criteria for low income credit cards you may not be looking at your income in the right way. It is illegal to lie about your income in order to get a line of credit, so you should always be truthful. That said it is important that you include any income in ways that you do not realize.

  • Apply jointly with your spouse – Credit cards are offered based on household income. If you and your spouse apply together you will likely meet the minimum requirements.
  • Understand your debt ratio – If it is high, meaning you spend almost all of the money you make you are a risk for the credit card issuer. Try to eliminate some of your expenses in order to improve this number.
  • Make more money – Taking on extra work in the form of a second job or even odd jobs like mowing lawns or childcare can help to boost your household income. If you already do these things be sure to include them in your credit card application.
  • Open a cheque account – Even low income credit card issuers look favorably on someone who is able to maintain a cheque account. To further increase your chances open a savings account too.

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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16 Responses to Low Income Credit Cards

  1. 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.

  2. 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.

  3. Default Gravatar
    basavaraj | November 16, 2013

    I currently earn $10,500, take home salary. Can you provide me with a credit card?

    • Staff
      Jacob | November 16, 2013

      Hi Basavaraj.

      Thanks for your question.

      Please have a look at each credit card’s review page. On the review page you can find eligibility requirements for each card, including how much you have to be earning each year before you can apply for the card.

      I hope this helps.

      Jacob.

  4. Default Gravatar
    Shelly | September 25, 2013

    Hi ,

    Just want to know if I’m wasting my time applying for a small credit card?? I have been employed for 10yrs with the same employer. I was working 7 yrs full time but now am part time working 15hrs per week getting a net income of $630 per fortnight approx 19K p/annum. I am married and we have no dependents. I would like to apply for a credit card in my name but it’s now been a year since I was discharged from bankruptcy. Should I wait until the 7yrs are up or is it just an impossibility. Thanking you…Shelly

  5. Default Gravatar
    Lucky | August 10, 2013

    Hey, can I get a credit card with my monthly earning of $150? And if yes, what can be my maximum limit?

    • Staff
      Jacob | August 12, 2013

      Hi Lucky.

      Please look at the card’s review page. At the bottom of the review, you will find a minimum income requirement for each card. You can choose a specific credit limit or you can elect to get the maximum credit based on your financial information provided during the application.

      Cheers.

      Jacob.

  6. Default Gravatar
    Paul | April 12, 2013

    my daughter applied for a credit card on line and was refused. I told her not to continue with on line applications as I believe the applications will appear on her credit report and make it more difficult to get approved. Is that correct?
    she is 19 and 5 months has held a full time job for 2 years after being a casual for 12 months in her last year of school.
    she clears $520 / wk has a car loan of $58 per week on a new vehicle she bought in November. Do you have any suggestions as to which bank is best to approach for her to obtain a credit card with a maximum of $3000 approved.
    Thanks

    • Staff
      Jacob | April 12, 2013

      Hi Paul. Thanks for your question. Provided that your daughter met the application requirements set out on the review and application page, there should be no reason why her application wasn’t accepted. Having said that though, it’s a mystery why some lenders will reject an application and others will approve it – applications are assessed through the lender’s internal systems, and this information is not available to the public, or even us. I wrote this article after I had my own credit card application rejected by Bankwest a year ago – and it goes through some of the common reasons why applications can get knocked back. In terms of suggesting a bank that will approve her application, my only suggestion is to try the lender that she holds her transaction and savings account with – and to apply in person. Face to face applications are generally the way to go if you’re unsure about your chances of approval. Online applications are assessed in a matter of minutes by computer systems,and if something doesn’t match up, it can be grounds for rejection.
      Yes, every time your daughter applies for credit, she will be marked with a credit enquiry on her credit file. Although not a bad thing, having too many credit enquiries on your credit file can raise red flags for lenders when you go to apply for a credit product. Think about it like this. If a lender can see that you’ve tried to apply for credit 6 times in the last month, for instance, it will make them think that there’s something wrong with the eligibility of the applicant.
      Regarding credit limit. When you apply for a card, you can elect to receive a specific credit limit; however, the final say rests with then lender as they will approve a limit based on the size of the debt they think an applicant can service.
      Hope this has helped.
      Jacob.

  7. Default Gravatar
    Pascal | March 11, 2013

    Hello!
    Help me to know about this,i earn $180 per month and i do not posses any bank accounts , do I have any chance of getting a credit card? Thank you.

    • Staff
      Marc | March 11, 2013

      Hello Pascal,
      thanks for the question!

      Many of the low income credit cards on this page have a required minimum income of $15,000 a year, which equates to $1,250 a month. Prepaid credit cards have no minimum income required, instead allowing you to load up funds to your credit card as you need them. This page explains how they work.

      I hope this helps,
      Marc.

  8. Default Gravatar
    Perry | February 10, 2013

    hello, i have just come to Australia and do not have a job yet. I want to have a credit card but a lot of banks say they need my income proof. As I have just come, I do not have income proof in Australia, but I can make some deposit to the bank. is it possible to get a credit card in this way?

    thanks

    • Staff
      Jacob | February 11, 2013

      Hi Perry. The bank will be looking for proof of regular deposits into your account, not just a lump sum payment. You may have to hold on a credit card until you meet the minimum income requirements. Until then, you may want to consider a pre-paid credit card. Thanks.

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Credit Cards Comparison

Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
American Express Qantas Discovery Card
American Express Qantas Discovery Card
Benefit from not ever having to pay an annual fee. 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. Apply Now For The American Express Qantas Discovery Card
Read More About The American Express Qantas Discovery Card
Westpac Low Rate Card
Westpac Low Rate Card
A low interest rate credit card with a low annual fee and long term balance transfer offer. 13.49% p.a. 0% p.a. for 14 months $45 p.a. 21.49% p.a. Apply Now For The Westpac Low Rate Card
Read More About The Westpac Low Rate Card
St.George Vertigo MasterCard
St.George Vertigo MasterCard
A low balance transfer rate and ongoing purchase rate. 13.24% p.a. 0% p.a. for 14 months $55 p.a. 21.49% p.a. Apply Now For The St.George Vertigo MasterCard
Read More About The St.George Vertigo MasterCard
Bankwest Breeze MasterCard
Bankwest Breeze MasterCard
Low ongoing purchase rate from Bankwest, with an introductory rate on balance transfers. 11.99% p.a. 0% p.a. for 13 months $59 p.a. 21.99% p.a. Apply Now For The Bankwest Breeze MasterCard
Read More About The Bankwest Breeze MasterCard
Citibank Clear Platinum Card
Citibank Clear Platinum Card
Low rate credit card offer with a low balance transfer rate. Also comes with platinum privileges and benefits. 12.99% p.a. 0% p.a. for 12 months $49 p.a. annual fee for the first year ($99 p.a. thereafter) 21.74% p.a. Apply Now For The Citibank Clear Platinum Card
Read More About The Citibank Clear Platinum Card

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