Credit cards with a $35,000 minimum income requirement

Your earnings determine the type of credit card you can apply for. Here is a look at credit cards with $35,000 minimum income requirement.

Some people don’t think about the minimum income requirement on a credit card they are applying for. Instead, they look at other features such as reward programs, annual fees and interest rates. While all these features are important, the minimum income requirement is a major determinant of whether your card application will be approved or not. Banks and credit card providers want to ensure that you earn enough to pay your credit card balance each month, so they look at your earnings before approving your card application.

Finding out the minimum income requirement on a specific credit card will help you determine whether you can apply for it successfully. This, apart from ensuring that your application is not rejected, can keep your credit card file clean, as any rejected applications are documented in your credit history. This may affect your credit history later on, when you’re trying to apply for a home loan.

Credit cards with a low income requirement

Rates last updated May 28th, 2017
Minimum Income Min credit limit Purchase rate (p.a.) Annual fee
ANZ Low Rate
Take advantage of 0% p.a. for 16 months on balance transfers and a low ongoing interest rate on purchases.
$15,000 $1,000 12.49% p.a. $58 p.a. Go to site More info
HSBC Low Rate Credit Card
Save with 13.25% p.a. on purchases. Also enjoy exclusive offers with the home&Away Privilege Program.
$20,000 $1,000 13.25% p.a. $55 p.a. Go to site More info
ANZ First Visa Credit Card
Enjoy 0% p.a. balance transfer rate for the first 16 months, a low annual fee, interest-free days on purchases and a low minimum credit limit.
$15,000 $1,000 19.74% p.a. $30 p.a. Go to site More info
Coles Low Rate Mastercard
Save with 12.99% p.a. on purchases. Also collect flybuys points when you shop at Coles Supermarkets.
$25,000 $500 12.99% p.a. $49 p.a. Go to site More info
Westpac Low Rate Card
Save with 13.49% p.a. on purchases. Also enjoy a low $59 annual fee.
$15,000 $500 0% p.a. for 6 months (reverts to 13.49% p.a.) $59 p.a. Go to site More info

What does a $35,000 minimum income requirement mean?

To reduce the risk of giving out credit to defaulters, banks carefully examine the income, debt and expenses of all credit card applicants so as to assess their ability to repay credit card debt. By doing so, card providers protect applicants from taking credit cards with a high credit limit that they might struggle to manage.

Credit cards with $35,000 minimum income requirements are standard credit cards that are categorised as low income cards. In order to get such a card, your annual income has to be above $35,000. Credit card providers will state whether requirement is before or after tax.

While applying for this type of credit card, it is important to be honest about your income, as your bank can easily verify that information. If you are applying for this card online, be sure to check whether you meet the minimum income requirements of that particular bank. That vital information is usually listed on most online credit card applications. If not, call the bank first to ensure the card matches your income.

How do these types of credit cards work?

These credit cards work as most other standard cards do, but they require applicants to fulfil the criteria of an annual earnings of more than $35,000. For instance, some cards with a minimum income requirement of $35,000 will offer perks such as travel and accident insurance, a reward program that allows you to earn points for shopping or flying or interest free days.

Pros and cons


  • Lower criteria. For the general public, meeting the eligibility criteria for these types of credit cards is a lot easier. This means that you may access a line of credit at your convenience.
  • Interest free days. Such cards will offer interest free days that will help you keep interest charges down.
  • Choice. There’s a range of card providers that offer these types of cards, and as such, you have a range of products to compare and choose from.


  • Interest rates and annual fees. Despite the low minimum income, some card providers may still set high rates and annual fees for these cards.
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2 Responses to Credit cards with a $35,000 minimum income requirement

  1. Default Gravatar
    steve | October 1, 2014

    can i apply for a personal loan if my income is only 31000

    • Staff
      Elizabeth | October 1, 2014

      Hi Steve,

      Thanks for your question.

      This page offers credit cards that have a minimum income requirement of $35,000, and as you mentioned your income is only $31,000 you will not be eligible. You can take a look at some of the cards on this page which have average minimum incomes of around $15,000 p.a., for which you’ll be eligible. Although if you are looking for a personal loan, you can check out your options on this page. Just remember to confirm the minimum income requirement before you apply.

      Hope this has helped.



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