Minimum income requirements for credit cards

The minimum income requirement to get a credit card can be as low as $20,000 per year. But for most cards you'll need to earn at least $35,000.

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Amy Bradney-George

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Richard Whitten

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Key takeaways

  • The minimum income required to get a credit card can be as low as $20,000 a year. The median minimum income requirement for a credit card in Finder's database is an annual income of $35,000 a year.
  • But most credit cards in Finder's database don't specify a required minimum income.
  • You can still get rejected for a credit card if you earn above the minimum income requirement if you spend too much or have bad credit.

What are credit card minimum income requirements?

If a credit card has a minimum income requirement of $35,000 then that's the minimum amount you need to earn in a year if you want to get the credit card.

The minimum income is based on your pre-tax income.

If you apply for a credit card with an income requirement that is higher than what you earn, your application will be rejected.

Examples of different credit card minimum income requirements

  • The Westpac Lite Card requires a minimum income of $30,000.
  • The Bankwest Breeze Platinum Mastercard requires a minimum income of $35,000.
  • The Virgin Australia Velocity High Flyer Card requires a minimum income of $75,000.
  • The ING Orange One Low Rate requires a minimum income of $36,000.

Finder survey: How many times have people applied for a credit card?

ResponseFemaleMale
136.03%32.71%
025.34%16.73%
219.83%23.5%
39.66%11.84%
43.28%5.83%
53.28%4.7%
7 or more2.07%3.76%
60.52%0.94%
Source: Finder survey by Pure Profile of 1113 Australians, December 2023

How can I find the income requirement for a credit card?

If a credit card has a minimum income requirement, you'll see it on the credit card provider's website and on the application page (before you apply).

What if there's no income requirement listed?

Credit card providers don't legally need to list a minimum income requirement, as your annual earnings are only one of the factors used to assess your application. Other factors include your:

  • Employment status
  • Assets and savings
  • Existing debts
  • Your regular expenses.

If you can't find an income requirement, check if you meet the card's other eligibility requirements. You could also try contacting the card company and asking about your eligibility.

The minimum credit limit is also a useful guide

While credit limits are subject to approval, having enough income to service the minimum limit on a card does give you an idea of how appropriate it could be for your circumstances.

If you could only afford to spent $100 a month repaying your card debt, then a credit card with a minimum limit of $6,000 would not be appropriate. If you spent $6,000 on the card and repaid $100 a month it would take over 5 years to pay off the entire balance. And that's not including interest charges.

You'd be better off looking at a card with a $1,000 credit limit. You could pay that off in 10 months (not including interest).

Want to know if you can get approved for a credit card?

Get your credit score via the Finder app and take advantage of our Chance of Approval* feature. Pop in your phone number below to get your download link.

*Finder's Chance of Approval feature provides an indication only. It is not a guarantee of approval. Applications for credit products are always subject to the lender's T&CS and application and lending criteria.

Why do some cards have higher income requirements than others?

Cards with more perks, points and features often have higher credit limits and are aimed at customers with more spending power. These cards have higher minimum income requirements because they're not budget cards, and people with low incomes won't be able to pay them back if they spend too much.

Low rate, low fee cards with fewer perks have lower minimum incomes.

Minimum income is not the only eligibility factor

When you apply for a credit card the card company also looks at:

  • Your spending. You have to provide information about your current income, spending habits and existing debts. These details help issuers determine your eligibility and can include details of regular household bills, loan repayments or even buy now pay later accounts.
  • Your credit score. Your credit history or credit score has details of your current and previous loans, cards and other accounts (such as utilities). Generally, you need to have at least a "Good" credit rating to apply for a credit card. If you don't know what your credit score is, you can get a copy of your credit report for free through Finder.
  • Your 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.
  • Your employment status. Credit card issuers typically prefer people to have full-time employment. But 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. Usually, you'll just be asked for supporting documentation that's specific to your situation.
Amy Bradney-George's headshot
Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise
Amy has written 565 Finder guides across topics including:
  • Credit cards
  • Frequent flyer
  • Credit score
  • BNPL
  • Money management
  • Sustainability
Richard Whitten's headshot
Co-written by

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 554 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips
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50 Responses

    Default Gravatar
    JacksonAugust 12, 2019

    If I earn $70,000 that is $5000 less than the min salary requirement – min $75,000, would I be declined straight away or could I still probably get a card?

      AvatarFinder
      JeniAugust 13, 2019Finder

      Hi Jackson,

      Thank you for getting in touch with Finder.

      Basically, card issuers check your income to figure out how much you can afford to spend on your card and still be able to pay off your debt. Based on this information and other factors, the card issuer can determine the size of your credit line/limit. Therefore, not meeting the income requirement might end up with declined credit card application. If you have other source of income which could add up to what you’re earning, that can help you with your credit card application.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    TraceyJune 22, 2018

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

      Default Gravatar
      ArnoldJune 22, 2018

      Hi Tracey,

      Thanks for your inquiry.

      The credit limit you have to apply for to cover the $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.

      Hope this information helps

      Cheers,
      Arnold

    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??

      Default Gravatar
      DanielleAugust 3, 2017

      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.

      Please feel free to check low-income credit cards and see which one 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

    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!

      AvatarFinder
      DeeMay 2, 2017Finder

      Hi Tracy,

      Thanks for your question.

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

      Cheers,
      Anndy

    Default Gravatar
    ReeceOctober 6, 2016

    Can i get a credit i get $14000 a year

      AvatarFinder
      MayOctober 6, 2016Finder

      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

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