Ask Finder: Can you get a credit card as a casual employee?
What factors do you need to think about when applying for a credit card as a casual worker?
I work pretty regular hours for an aged care home but am technically employed as a casual. So I was wondering if you know of any credit cards available for "casual workers"? Are there different application requirements to prove you can manage a card?
Australian credit card providers will accept applications from people that work on a casual or part-time basis as long as you meet all the eligibility requirements for the card you want.
These requirements are the same regardless of your employment situation. However, it could be a bit trickier to prove that you meet the minimum income requirement if you’re employed casually and have varying hours (compared to someone employed permanently with fixed hours).
But the supporting documentation you provide can give the provider a clear idea of your regular income.
As well as recent payslips, it’s useful to include your last tax assessment notice – or even the two most recent ones if you think they can help show you earn a consistent level of income.
Another factor to think about is your potential credit limit. As of 1 January 2019, credit card providers must assign you a credit limit no higher than what you can afford to pay off over a three-year period (including interest charges). Your income is a key part of this assessment and, as there is potential for it to vary when you're employed casually, it's likely you'll be offered a lower limit than someone who earns the same amount in a full-time job.
For this reason, you may want to focus on cards that have low minimum income requirements since they usually have lower credit limits. Also consider looking at credit cards offered by your current bank as it will already have access to some of your financial history.
Some of the other details that could have an impact on your application include the following:
- The length of time you've been with your employer (the longer, the better in this case).
- Any other sources of income.
- Your savings or other assets.
- Your share of regular household expenses – so if you split the cost of rent or electricity with others, make sure you only provide details of your own expenses.
While there is no way to guarantee success when you apply for a credit card, including as much supporting documentation as possible gives you a greater chance of approval. Good luck!
Ask Finder is a regular column where Finder's expert writers answer your questions. All rates and fees are correct at time of publication and we only give general advice.
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