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Do I make enough money to get a credit card?

Compare options with low minimum income requirements and find the right credit card for you.

When you apply for a credit card, your income is an important eligibility requirement that the issuer will use to assess your ability to repay. Minimum income requirements generally start at $15,000 p.a. gross (before tax), so there are some low-income options to compare. Use this guide to compare credit cards you're eligible to apply for.

What are minimum income requirements?

Minimum income requirements are the lowest amount of money you need to earn before tax per year to apply for a credit card.

Credit card income requirements help issuers reduce the risk of lending and allow them to offer you products that are appropriate for your financial circumstances. In turn, you can use these requirements to help you choose and apply for credit cards that suit your individual needs.

Compare credit cards with a low minimum income requirement

Rates last updated July 21st, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Min credit limit Max credit limit Minimum Income Product Description
Citi Clear Platinum - Exclusive Offer
14.99% p.a.
0% p.a. for 24 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
$6,000
$100,000
$35,000
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
Westpac Low Rate Card
13.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
$1,000
$25,000
$15,000
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
ANZ Low Rate
12.49% p.a.
0% p.a. for 15 months
$58 p.a.
$1,000
$15,000
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
HSBC Low Rate Credit Card
13.25% p.a.
0% p.a. for 20 months with 2% balance transfer fee
$79 p.a.
$1,000
$20,000
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
ANZ First Visa Credit Card
19.74% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$30 p.a.
$1,000
$15,000
Get up to 18 months interest-free on balance transfers and save with a low $30 annual fee. Plus, up to 44 days interest-free on purchases.

Compare up to 4 providers

How can I find out what the income requirement is?

screenshot of application requirements

On finder, the details are listed in the ‘Application requirements’ section in the product reviews for individual cards.

Some issuers also include this information on their websites or product pages, so you can double-check before you apply for a particular credit card. Other lenders prefer not to outline minimum income requirements, so you won’t see this information for every credit card you look at.

If you can’t find minimum income requirements for a particular card, you can try calling the issuer to ask about your eligibility.

Why are some income requirements so much higher than others?

The relationship between income and credit cards can influence a wide range of credit card features, from the credit limit and interest rate of the card right through to complimentary extras or rewards programs. In general, cards with high minimum incomes will have a lot more features than low income credit cards, but there are still many different credit cards you can choose from if you make a relatively low income.

Comparison: High vs low minimum income requirement

The following table shows the differences between a card with a high minimum income requirement and one with a low minimum income requirement. In general, high income credit cards offer more “other features”, while low income credit cards are good for basic money management.

Credit cardMinimum incomeMinimum credit limitPurchase rateOther features
Citi Prestige$150,000$30,00020.99% p.a.
  • Rewards program with high, uncapped earn rates
  • Complimentary insurances
  • Concierge service
  • Complimentary hotel stay
  • Flight upgrades
Virgin No Annual Fee$25,000$6,00018.99% p.a.
  • No annual fee
  • Free additional cardholders

The examples in this table also show that high minimum income credit cards also tend to have higher minimum credit limits and higher purchase rates. These features, as well as the complimentary extras, are designed to benefit people who earn and can spend more money. In comparison, credit cards with lower minimum income requirements tend to have lower minimum credit limits and fewer features, which can make it easier to avoid overspending.

Other factors that affect your credit card application

Credit card issuers weigh up a range of other factors before approving or denying your request for credit, including:

  • Age. You must be at least 18 years of age to apply for a credit card.
  • Credit rating. Your credit history or credit rating outlines details of your current and previous loans, cards and other credit accounts (such as utilities). Generally you need to have at least a ‘good’ credit rating to apply for a credit card.
  • Residency status. While credit card issuers generally prefer people who are citizens or permanent residents of Australia, there are some credit cards available for people with temporary residency status. These cards may have higher minimum income requirements to help meet lending standards.
  • Employment status. While credit card issuers typically prefer people to have full-time employment, you could still be eligible for some cards if you work part-time or casually, are self-employed, are a student or if you have a pension.
  • Income vs expenses. When you apply for a credit card, you will have to provide information about your current income, spending habits and any existing debts to help issuers determine whether or not you can manage more credit.

Credit card income requirements help issuers assess the risk of lending and give you an idea of what cards are available to you based on your financial situation. So, now that you have a better understanding of minimum income requirements, you can compare and apply for a card that fits your needs.

Picture: Shutterstock

Sally McMullen

Sally McMullen is an editor at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

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Credit Card Offers

Important Information*
Citi Clear Platinum - Exclusive Offer
Citi Clear Platinum - Exclusive Offer

Interest rate

14.99

Annual fee

99
Qantas Premier Everyday
Qantas Premier Everyday

Interest rate

19.99

Annual fee

49

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50 Responses

  1. Default Gravatar
    TraceyJune 22, 2018

    How much do I need to apply for if I want to balance transfer $9000?

    • finder Customer Care
      ArnoldJune 22, 2018Staff

      Hi Tracey,

      Thanks for your inquiry

      The credit limit you have to apply for to cover $9000 balance will depend on the institution you apply for. Some institutions don’t put a maximum on how much you can transfer, though this can sometimes sit between 75%-100% of your approved credit limit. It would be good to check the balance transfer limit first, before applying for a balance transfer.

      To know the key things you need to consider when applying for a balance transfer, please check out our short guide.

      Hope this information helps

      Cheers,
      Arnold

  2. Default Gravatar
    KazAugust 2, 2017

    I want to know if I can get a credit card for 16,000 for an operation that is not covered by private health insurance. A personal loan is asking 80.00 per week to pay it back. I was thinking this would be a better option. Im self employed and have a profit and loss statement from an accountant. I still receive new start allowance as well.. can you help??

    • finder Customer Care
      DanielleAugust 3, 2017Staff

      Hi Kaz,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      You may refer to this page for options that may suit your needs. You may review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.

      I hope this helps.

      Cheers,
      Danielle

  3. Default Gravatar
    TracyMay 1, 2017

    Are the minimum income requirements published by banks referring to gross income or net income (after tax, repayments etc.)?

    Thanks in advance!

    • finder Customer Care
      LouMay 2, 2017Staff

      Hi Tracy,

      Thanks for your question.

      The minimum income requirement published by banks generally refers to Gross Income.

      Cheers,
      Anndy

  4. Default Gravatar
    ReeceOctober 6, 2016

    Can i get a credit i get $14000 a year

    • finder Customer Care
      MayOctober 6, 2016Staff

      Hi Reece,

      Thanks for your inquiry.

      Generally, credit card companies in Australia would require their applicants to have a minimum income of at least AU$15,000 p.a. Nevertheless, you might want to reconsider a prepaid card, which is also convenient to use and does not have a minimum income requirement.

      Hope that helps.

      Cheers,
      May

  5. Default Gravatar
    September 18, 2016

    My salary is 18000 per month am I able to get a credit card and how? my bank account in yes bank.

    • finder Customer Care
      MaySeptember 18, 2016Staff

      Hi Gulshan,

      Thanks for your question.

      Aside from your income source, there are also other eligibility requirements that you have to meet to be approved for a credit card such as but not limited to employment stability and credit rating. However, these criteria/requirements differ from bank to bank and the type of credit card, so you may need to check the details of the card first or contact the issuer before applying to verify if you meet them.

      Hope this helps.

      Cheers,
      May

  6. Default Gravatar
    September 14, 2016

    how much p.a. income in rupees for credit card

    • finder Customer Care
      LouSeptember 14, 2016Staff

      Hi Akbar,

      Thanks for your question.

      The income requirement for the credit cards we feature on finder.com.au are only in AUD and these credit cards are also available for Australian residents.

      Cheers,
      Anndy

  7. Default Gravatar
    shainazFebruary 27, 2015

    minimum salary to apply for credit card and wt is age limit

    • finder Customer Care
      JonathanMarch 2, 2015Staff

      Hi Shainaz, thanks for your inquiry!

      The minimum income requirements for a credit card vary depending on the lender but is generally around the $15,000 mark. The minimum age for a credit card in Australia is 18 years old.

      Cheers,

      Jonathan

  8. Default Gravatar
    AjayFebruary 21, 2015

    Hi , I want credit card for online shopping , my monthly income is 10,000 so plz help how can get

    • finder Customer Care
      JonathanFebruary 23, 2015Staff

      Hi Ajay, thanks for your inquiry!

      For a list of 0% Purchase credit cards please see this page, we also have broken down the components and features of 0% Purchase Credit Cards for you.

      Cheers,

      Jonathan

  9. Default Gravatar
    morgieNovember 30, 2014

    I earn about R3000 a month.what credit card can I get.

    • finder Customer Care
      ElizabethDecember 1, 2014Staff

      Hi Morgie,

      Thanks for your question.

      From the Australian credit cards available on finder.com.au, you’ll need to be earning a minimum income of about $15,000 AUD which is about R11731.16 a month. You might want to consider a prepaid card, but keep in mind you’ll only be able to load Australian dollars onto this.

      I hope this has helped.

      Thanks,

      Elizabeth

  10. Default Gravatar
    CindyNovember 16, 2014

    I am stay at home Mom I have a child with Autism we get SSD and I get child support but it’s only 6600 a year. Is there a credit card I can apply for.

    • finder Customer Care
      ElizabethNovember 17, 2014Staff

      Hi Cindy,

      Thanks for your question.

      Unfortunately I’m unaware of any cards with a minimum income requirement below $15,000. If you’re looking to get a card for the convenient shopping/spending benefits, you might want to consider a prepaid credit card. These cards don’t have a minimum income requirement, and usually only require that you verify your identity in order to be approved.

      I hope this has helped.

      Thanks,

      Elizabeth

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