The Best Low Income Credit Card

Most people who decide they would like a credit card for the convenience, the security, the rewards or the low interest rate will start comparing credit cards based on their features, benefits, extras and ease of use. However, if you are one of those people who have decide they could benefit from a credit card, but you know you fall into the low income bracket then you have probably also decided that your search for a credit card will be fruitless. That is where you are wrong because there are a number of Australian credit cards which can be approved for low income families and individuals, including:

• The ANZ Low Rate MasterCard offers a 0% p.a. for 3 months (reverts to 13.24% p.a.) interest rate on purchases and an annual fee of just $58. You also have 55 interest free days to pay down your balance.
• The Citibank Rewards Credit Card -Classic offers a balance transfer rate of if you are currently struggling with credit card payments on your low income. The standard purchase rate is 20.99% p.a. but the annual fee is just $89 and you can still enjoy 55 days interest free.
• The St.George Vertigo MasterCard has a low 13.24% p.a. interest rate on purchases and an even lower 0.99% p.a. for 12 months on balance transfers. You’ll pay only a $55 annual fee and get 55 days interest free.
• All three of these credit cards require a minimum income of just $15,000 a year.

Featured Low Income Credit Card Comparison

			Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)
	Westpac Low Rate Card	A simple low interest rate card featuring a low ongoing rate on purchases, 55 days interest free and a low $45 annual fee.	0% for 6 months (reverts to 13.49% )	0% for 6 months	$45	21.49%
	St George Vertigo	Low Interest rate on purchases plus a balance transfer deal	13.24%	0.99% for 12 months	$55	21.49%
	Citibank ReadyCredit	A low balance transfer rate 9.9% for 15 months, plus a low interest rate on purchases months with No annual fee.	18.99%	2.9% for 15 months	$0	18.99%

Features of the St.George Vertigo MasterCard

Before you consider applying for a low income credit card you need to know about the card’s features, and whether they will suit your situation. So, featured here are the features of one of Australia’s lowest interest rate credit cards:

• Your choice of credit limit, as little as $500. If you are on a low income you don’t want to be getting into mountains of credit card debt because you simply can’t afford to. Instead, take a careful look at your budget and decide what you can afford to repay – even if you can’t pay it all of within the interest free period – and St.George will let you choose that amount as the credit limit on your Vertigo credit card.
• A low purchase interest rate. Even though you will try your hardest to repay your credit card balance before you are charged interest, your credit card purchases may stretch for a few months and you will find yourself outside of the interest free days. With the St.George Vertigo MasterCard you will only be charged 13.24% p.a. interest on your purchases so you don’t have to stress about unaffordable interest charges.
• Joint account holders. If you need to combine your income with your partner’s to qualify for a low income credit card don’t worry because the St.George Vertigo credit card be used as a joint account, and have additional card holders added for free.
• A low annual fee. This makes it one less bill you have to worry about because the St.George Vertigo credit card has an annual fee of just $55 so you are not bombarded by high interest or high fees.

How to Apply for a Credit Card with a Low Income

Whether you are applying for a low income credit card to provide a little breathing room in those tight weeks, strengthen your credit report or allow you to make purchases online, a failed credit card application is going to look bad on your credit report. Therefore, follow these simple tips before you start your low income credit card application to help you ensure success:

• It’s not impossible, you just have to be prepared. Don’t become daunted by all the questions and paperwork of a credit card application because even if you are a low income earner, you generally only have to show a minimum income of $15,000 to be approved for a low income credit card. Plus, remember to follow these tips to be prepared for your credit card application so you can truthful because if you are caught lying on your credit card application interest charges will be the least of your worries.
• Apply for a joint credit card. The income on a credit card application can be a total of the household’s income so apply with your partner or spouse and combine your incomes to reach the minimum.
• Know your current debt and commitments. A credit card provider will look at your current debt ratio before allowing you to take on any more debt. This means that you too need to look at how much of your income is already going towards a mortgage, a personal loan, a car loan or any other sort of debt to make sure you appear as a good candidate, who can afford a credit card. If you need to, pay down some of your existing debt before you apply for a credit card to lower your debt ratio.
• Increase your income. Take on extra shifts at work or start a second job, even income from mowing lawns or babysitting can boost your overall income on a credit card application. If you’re already doing this extra work, make sure to include it in your income calculations on your application.
• Open a cheque or savings account. Credit card providers will be more likely to consider you for a low income credit card if you can show you can manage a cheque account and maintain your cheque book. A savings account also shows you are financially responsible and not just spending everything you earn.

Check out today's featured offers:

Westpac Low Rate	Citibank Clear Platinum	Qantas AMEX Discovery	ANZ Platinum
0% p.a. for 6 months on purchases & balance transfers	2.9% p.a. for 12 months on balance transfers	$0 annual fee Up to 10,000 Bonus QFF Points	0% p.a. for 6 months on purchases & balance transfers

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Popular Credit Card Offers

			Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)
	Westpac Low Rate Card - 0% Offer	A credit card with a low rate offer on both balance transfers and purchases, plus a low annual fee.	0% for 6 months (reverts to 13.49% )	0% for 6 months	$45	21.49%
	Citibank Clear Platinum Card	Competitive interest rate on purchases and balance transfers offer.	11.99%	2.9% for 12 months	$99	21.74%
	St George Vertigo	Take advantage of this great offer from St.George with a low rate on purchases and a low balance transfer offer.	13.24%	0.99% for 12 months	$55	21.49%
	ANZ Platinum Credit Card	An introductory interest rate offer on balance transfers and purchases, plus a $0 first year annual fee.	0% for 6 months (reverts to 19.24% )	0% for 6 months	$0 annual fee for the first year( $87 thereafter)	20.99%