Low income credit cards provide various benefits with a lower income requirement

Information verified correct on September 28th, 2016

Don’t let a low income stop you from getting a credit card. Learn how to choose a low income credit card and get approved.

When applying for a new credit card, how much you earn plays a crucial role, given that most credit cards come with strict minimum income requirements. Your income not only helps credit card providers arrive at suitable credit limits; it also indicates to them whether you’re capable of making timely repayments.

If you don’t earn much, thinking about getting a premium or high-end card is being a little unrealistic, but this does not mean that you have no other options. Plus, in the scenario that you don’t qualify for a credit card, you can always consider getting a debit card or a prepaid card.

What is a low income credit card?

A low income credit card, as the name implies, is one that comes with a low minimum income requirement, and such a card is essentially a conventional credit card in every other aspect. There’s a good chance that a low income card comes with a low purchase rate, but this is not always the case. If the low income card you choose comes with a Visa or a MasterCard affiliation you can look forward to using it globally. You can also use such a card to make online and over-the-phone transactions. Another common feature you can look for in such cards is interest free days on purchases.

Westpac Low Rate Card

Low Minimum Income Credit Card Offer

The Westpac Low Rate Visa is a great low interest, low fee credit card from Westpac. It offers a low interest rate balance transfer and a low purchase rate and 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 18 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.

Comparison on Low Income Credit Cards

Rates last updated September 28th, 2016.

ANZ Rewards Credit Card

Receive 25000 bonus Rewards Points

June 15th, 2016

Westpac Low Rate Card

New offer of 1% for 12 months on purchases + 0% for 18 months on BT. Offer ends 11 October 2016.

July 7th, 2016

ANZ First Visa Credit Card

A new offer of 0% p.a. for 18 months on balance transfers.

August 31st, 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
ANZ Low Rate
ANZ Low Rate
13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. $1,000 $15,000 $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
Citi Simplicity Card
Citi Simplicity Card
11.99% p.a. for 24 months (reverts to 19.99% p.a.) $0 p.a. $6,000 $100,000 $35,000 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
Westpac Low Rate Card
Westpac Low Rate Card
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. $1,000 $30,000 $15,000 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

Here are credit cards with low minimum income requirements.

ANZ First credit card

ANZ First is a credit card with a low annual fee of $30 For credit card customers who’ve already racked up a credit card debt want to transfer their balances to a lower interest rate to create some breathing room and to save some money, the ANZ First has a balance transfer rate of 0% p.a.

It has a purchase rate of 19.74% p.a. and a minimum annual income requirement of $15,000.

About the ANZ First Visa card

ANZ First

The ANZ Low Rate credit card

The ANZ Low Rate is one an example of a card accessible to low income earners. It has a low purchase rate of 13.49% p.a. combined with an annual fee of just $58

The ANZ Low Rate has a minimum annual income of $15,000. This equates to a weekly income of only $300.

It’s also a good option if you want to transfer balances over from your existing credit card. The ANZ Low Rate has a balance transfer rate of 0% p.a. for 18 months, this feature offers relief for cardholders who are incurring high interest charges on an existing credit card.

About the ANZ Low Rate credit card

ANZ First

St.George Vertigo Visa

St.George’s Vertigo is another worthy addition to the low rate credit card stable. It boasts a low purchase rate of 13.24% p.a. with a balance transfer rate of 0% p.a. for 18 months. The Vertigo could be a great card to carry out your daily spending on and pay off any stubborn credit card debts.

It also has a low annual fee of $55 and no listed minimum income.

About the St.George Vertigo Visa

St. George Vertigo Visa

Suncorp Clear Options Standard credit card

Suncorp Bank Clear Options Standard is an enticing low rate, low annual fee credit card worth considering. It is hard to beat this low purchase rate of 12.74% p.a. This card is good for customers who struggle to pay their balance in full every month, as the interest rate on purchases is one of the lowest around and represents great value.

It also has a low annual fee of $55 and a minimum income of $25,000.

About the Suncorp Clear Options Standard credit card

Suncorp Clear Options Standard

Virgin No Annual Fee credit card

Virgin No Annual Fee offers a cracking free annual fee. For consumers who are carrying an existing credit card debt, the balance can be transferred to this card for a low balance transfer rate of 0% p.a. for 18 months. Doing so could be a saviour for customers looking to payoff debt with a low interest rate.

It also has a minimum income of $25,000 and a purchase rate of 18.99% p.a.About the Virgin No Annual Fee credit card

virgin money no annual fee credit card

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How can I compare low income credit cards?

Not all low income credit cards are the same, and when you’re comparing a few, pay attention to the following aspects:

  • Income requirement. Certain low income credit cards require you to earn no more than $15,000 p.a. There are others that increase this limit to $20,000 p.a. or $25,000 p.a. Which one you can apply for, then, depends on just how much you earn.
  • Annual fee. You can come by low income cards that don’t charge any ongoing annual fees. There are certain cards that don’t charge annual fees only for the first year, and there are some that charge ongoing annual fees from the very first year. With cards that charge annual fees, this fee can vary noticeably.
  • Interest rate. Find out how much you’ll have to pay as interest, not just for purchases, but for cash advances as well. Interest rates on purchases can vary significantly between low income cards, and this can make a big difference if you don’t pay your account’s closing balance in full every month.
  • Interest-free days. Most credit cards give cardholders the ability to make use of interest-free days on purchases, but not all do, so find out if the card you choose does. The maximum number of interest-free days available varies from one card to another, so this aspect requires your attention as well.
  • Extras. If you’re considering transferring balances from an existing card or more, you can do well by looking for a card that comes with a balance transfer offer. If you plan to use your card regularly or if you’re a frequent traveller, you can consider applying for a low income card that rewards spending.

Tips to consider when applying

Applying for a new credit card is not complicated, but knowing of what to expect ahead of time is always a good idea. Go through the following to increase the chances of your application’s approval:

  • Don’t fret. Many credit card applicants worry too much about going through the paperwork involved in submitting an application. Know that you have to meet minimum income requirements, which can be as low as $15,000 p.a. to qualify, and this works out to around $290 per week.
  • Apply as a joint applicant. If your individual income does not qualify you for a credit card, you can consider getting a joint credit card, where you and your spouse are joint cardholders. When applying for a joint credit card you can submit combined household income, so you can meet minimum income requirements easier. Check this page for a list of institutions that offer joint account credit cards.
  • Take stock of your existing debts. Credit card providers will not give you a credit card without taking a look at your debt to income ratio first. If a major portion of your income goes towards clearing existing debts, the likelihood of an approved credit card application remain slim, so it’s ideal that you work on paying off some of your existing debts before applying for a new credit card.
  • Add to your income. Consider working extra shifts or taking on a second part-time job as this can add to the income you need to show, and don’t forget to include income from all sources in your application.
  • Review your credit file. While income is an important aspect, so is your creditworthiness. Go through your credit file to find out if you suffer from poor credit, and if so, take measures to repair the same. Apply for a new credit card only after you see positive changes in your credit file, because declined applications will only further tarnish your credit history.
  • Apply for one card at a time. Every time you apply for a credit card the same finds a mention in your credit file, and credit card providers don’t look at simultaneous applications for credit with favour.
  • Don’t lie. If you’re considering fibbing on your credit card application, don’t. This constitutes as fraud.

Case Study

Low income credit card - Terry
Terry is working as a part time retail assistant while he studies to become a mechanic. He earns an annual income of $17,000. This translates to a weekly income of roughly $325 before tax. He’s applying for a credit card to be able to make emergency bill payments or purchases. His wife Demelza earns an annual income of $35,000.

If Terry applies for a credit card and includes both his own income and that of his wife, he may be able to qualify for a platinum or gold credit card, which may even come with a rewards program. Their combined income in this case would be $52,000.

Terry might still want to apply for a low rate credit card with only his income if his wife already has a credit card of her own. If he does this he’ll have a credit card with a low credit limit for emergency purchases and payments.

Alternatives for low income earners

Not qualifying for a credit card doesn’t have to be the end of the world, and you can still find alternatives with similar features, barring the credit. Here’s what you can look:

  • Prepaid credit card
    Don’t let the name mislead you, this is not really a credit card. With such a card, you get to load money in your account, and you can use the card to access the same at any time. You cannot get more money than you’ve loaded, so in essence, you won’t get credit. What helps is that such a card comes with many features associated with credit cards, which include global usage, transfer of funds, accessing BPAY, and making online and over-the-phone transactions.
  • Debit card
    Debit cards come linked to bank accounts, and give you access to money in your account. These also offer features that are in line with prepaid cards, and you can look forward to using such a card just about anywhere, at practically any time.

Case Study

Glenda credit card OFX
Glenda is travelling overseas next year after she graduates from university. She’s already paid for her trip with the help of a gift from her parents, and now wants to sort out how she’ll keep her spending money safe while travelling. Her credit card application was recently rejected because she only makes approximately $12,500 a year.

Glenda decides to use an OzForex Travel Card. She can load up to nine different currencies onto the card, and can lock-in exchange rates for each of them. The card also has a security chip and PIN so her money is safe from credit card scammers.

If you earn $15,000 p.a. or more and don’t have poor creditworthiness you can definitely think about getting a low income credit card. Bear in mind that minimum income requirements can vary from one card to the next, as can features like annual fees and interest rates. As a result, make sure you take some time to compare your options well, and apply only after you know which card would suit your needs.

Frequently asked questions

I don’t qualify for a credit card but my partner has one. Do I have to meet any criteria to get an additional card linked to his card?

First, your partner has to find out if their credit card provider provides additional cards. If it does, they can request for an additional card for just about anyone aged over 18 years, as long as they are ready to accept liability for all purchases made using such a card.

How often can I apply for a credit card without worrying about it showing on my credit file?

Most credit card providers find a credit inquiry once every three or six months acceptable.

Can I qualify for a loan if I don’t qualify for a credit card?

Eligibility criteria for loans and credit cards aren’t exactly the same, and you might qualify for a payday loan or a secured personal loan even if you don’t qualify for a credit card.

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12 Responses to Low income credit cards provide various benefits with a lower income requirement

  1. Default Gravatar
    claudine | January 14, 2016

    I’m asking if I will get my first credit card my minimum income is around of 10,000 pesos, and that means I’m remittance beneficiary?? My mom is working at Kuwait please help me.

    • Staff
      Debbie | January 14, 2016

      Hi Claudine,

      Thank you for your inquiry.
      You may want to check the list of eligibility criteria for your preferred credit card product which may include the required minimum income or permanent residence in Australia.

      For more details on minimum income for Australian credit cards, kindly refer to our guide here.

      I hope this helps.


  2. Default Gravatar
    Freek | March 17, 2015

    Hello there,

    I am wondering, is there an international credit card i can get? Like a US card, when i am not a US citizen but a Dutch citizen?

    Btw my income is around 17.500 usd.

    Thanks for your help!

    • Staff
      Jonathan | March 17, 2015

      Hi Freek, thanks for your inquiry!

      Please see this page for our travel money options. Travel money cards allow you to pre-load currencies and use them at your convenience.



  3. Default Gravatar
    jo | July 21, 2014

    Hi I now earn $30,942.08 and would like a credit card from $2000 to $5000. I have already had 4 enquiries on my file in the past 12 months.

    • Staff
      Shirley | July 21, 2014

      Hi Jo,

      Thanks for your question.

      Please check the minimum income requirements of the cards on this page, to help you determine if you’re eligible.


    • Default Gravatar
      jo | July 21, 2014

      yes I do qualify but unsure about credit file as I have had four (4) enquiries on my file in the last twelve months???? as that figure is yearly gross (before tax)

    • Staff
      Shirley | July 22, 2014

      Hi Jo,

      Generally a credit inquiry every 3-6 months is acceptable by credit card issuers.


  4. Default Gravatar
    adam | March 7, 2014

    I have an annual income of $10,000. What would be the best credit card to get and earn frequent flyer points as well.

    • Staff
      Jacob | March 7, 2014

      Hi, Adam.

      Thanks for your question.

      There are no cards in the market that offer frequent flyer points and have a minimum income requirement of under $15,000 p.a.

      Have a look at our low rate credit card comparison page. The cards on this page have some of the lowest minimum income requirements in the market. You can view the eligibility requirements for a card by having a look at the application requirements at the bottom of each card’s review page.

      I hope this helps.

  5. Default Gravatar
    Shyam | January 23, 2012

    My salary is only Rs15000/month, which credit card is suitable for me?

    • Staff
      Jacob | April 9, 2013

      Hi Shyam. This cards are available to permanent Australian residents only. If you do meet this criterion, you may want to consider a low rate credit card as this is a low salary and does not meet the minimum income requirements listed on this site. Jacob.

Credit Cards Comparison

Rates last updated September 28th, 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
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 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

* 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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