What should be the minimum salary to apply for credit card?

Asked by: Meda Ebert  |  Last update: October 29, 2022
Score: 4.4/5 (25 votes)

If you're applying for an unsecured credit card from a major issuer, you'll likely have to meet a minimum income requirement — usually $10,000 or $12,000 per year. If your income is too low, or you're carrying too much debt, your application might be rejected.

What is the minimum income needed for a credit card?

Technically there's no minimum income requirement to get a credit card. A student's disposable income could be as low as $100 and they would still have the potential to be approved for a credit card. Higher incomes generally give applicants a better chance of getting approved for a card and a higher credit limit.

Which credit card is best for low salary?

top low-income credit cards available in India
  1. SBI SimplySAVE credit card.
  2. ICICI Platinum Chip credit card.
  3. YES Bank Prosperity Reward Plus credit card.
  4. HDFC Moneyback credit card.
  5. HDFC Bharat Cashback credit card.
  6. HSBC Smart Value credit card.

Can I get credit card with 10000 salary?

Only a very few lenders will have credit cards for people who have a salary of Rs. 10,000. Apart from your salary, your credit history will also be checked, if you want to qualify for these credit cards. If you have a good credit score, you have a better chance of getting approved for a reasonable credit limit.

Can I get credit card with 20000 salary?

Yes, if your salary is getting transferred in your bank account via IMPS/NEFT/RTGS (not by cash, cheque or DD), you can get approved for MoneyTap Credit Card 2.0. However, you need to meet the eligibility criteria for MoneyTap Credit Card 2.0: Minimum salary: In-hand salary of ₹ 20,000/month.

What Income Should You Put On A Credit Card Application?

26 related questions found

Can I get credit card with 3000 salary?

There are no banks in UAE providing credit cards for AED 3000 salary. As already mentioned, the minimum salary for a credit card in the UAE is AED 5000.

Can I get credit card for 12000 salary?

You can get a credit card with a salary of Rs. 12,000, but you would have limited options. Each lender would have their own criteria of qualifying for a credit card. Lenders would want to know if you will be able to pay your credit card bills on time every month.

Can I get credit card with 15k salary?

Banks do provide credit cards for low salaried (Rs 8,000- Rs 15,000) depending on the annual income. Eligibility on the card will be 3 times of the monthly salary.

What is credit card eligibility?

Age – You will need to be minimum 18 years of age to apply for a Credit Card. Even if you are an add-on Credit Card holder, the age limit needs to be met. Anyone meeting this criteria becomes eligible for a Credit Card. Income – Each bank has a specified minimum income set by them as an eligibility criteria.

Can a student get credit card?

A student credit card is a credit card that is offered to students at the college level. Any student beyond the age of 18 years is eligible to apply for the credit card as it does not have an income eligibility limit. These credit cards have lower interest rates and have a validity period of 5 years.

Does credit card limit depend on salary?

Salary is a crucial deciding factor for credit cards. Someone earning say Rs 50,000 per month is eligible for a different type of card than a person earning Rs 25,000 per month. On an average, income requirement is between Rs 1,44,000 and Rs 25,00,000 per annum for both salaried persons and self-employed.

Can I get credit card with 2000 salary?

Most banks in the UAE offer credit cards for applicants with a monthly income of AED 5,000 or more. However, some other banks have this minimum income requirement reduced to AED 3,000, AED 2500 or less.

Can I get credit card with 4000 salary?

According to the norms of the banks, none of the credit card providers offer a credit card to an employed individual whose minimum salary is AED 4,000 or less.

Can I get credit card with 4500 salary?

According to bank policy, no credit card provider would offer a card to an individual earning less than AED 4,500 per month. To acquire the best credit card in UAE, you must have a minimum salary of AED 5,000. If your minimum wage in the UAE is less than AED 4,500, you will not be able to obtain a credit card.

Is salary slip mandatory for credit card?

Yes, customers can apply for a credit card without submitting a salary slip. In its place they can submit Income Tax Return acknowledgement.

What is the minimum salary for SBI credit card?

You must be between 21 and 60 years of age. You need to have a good credit score, preferably above 750. You must have a regular source of income. Your minimum annual income must be over ₹2 lakh.

Can a 18 year old get a credit card?

It's possible to get a first credit card at a young age by becoming an authorized user on a parent's account, but the legal age to apply for your own credit card is 18. Eighteen to twenty year-olds must apply with a cosigner (which not all banks allow) or with proof of income.

Can a 17 year old get a credit card?

WalletHub, Financial Company

You can get a credit card at 17 as an authorized user, but you have to be at least 18 years old to open a credit card account in your own name. And when you turn 18, you'll need to show that you have your own independent income to qualify.

Can a 19 year old get a credit card?

Consumers can apply for credit cards starting at age 18, but the law requires them to have an independent income or a co-signer. However, most major issuers don't allow co-signers anymore. So, a person aged 18, 19 or 20 usually has to earn and prove their own income before being approved for a credit card.

Can I get HDFC credit card with 10000 salary?

What is the minimum salary for HDFC credit card? The minimum monthly salary to avail an HDFC credit card is Rs. 10,000.

Can a 21 year old get a credit card?

You have to be at least 18 years old to apply for a credit card in the U.S., but if you're under 21, it may be difficult to get approved. Federal law limits credit card issuers' abilities to approve young adults for credit cards.