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

Updated

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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 564 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 553 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips
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50 Responses

    Default Gravatar
    stephanieApril 21, 2014

    hi I only earn a minimum of $405/fortnight is there a credit card that I can get I wish to get $6000. I have a great credit rating

      AvatarFinder
      ShirleyApril 22, 2014Finder

      Hi Stephanie,

      Thanks for your question.

      You may consider getting a low-income credit card to suit your needs. You can select the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      Cheers,
      Shirley

    Default Gravatar
    SanjitMarch 22, 2014

    I need a credit card. My monthly salary Rs. 11500/-Please advice for the same.

      AvatarFinder
      JacobMarch 24, 2014Finder

      Hi Sanjit,

      Thanks for your inquiry.

      The credit cards we have listed are available to permanent Australian residents and people visiting on a certain type of visa. You will need to be earning a salary in Australia to apply. Our page on credit cards for temporary residents may be of interest to you. You can select the “Go to Site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      Cheers,
      Jacob

    Default Gravatar
    AnupNovember 27, 2013

    I’m getting 13,000 salary per month. Can I get any credit card?

      AvatarFinder
      JacobNovember 27, 2013Finder

      Hi Anup.

      Have a look at the application requirements at the bottom of the card’s review. It will show you how much you need to earn to apply for the card.

      Thanks for your question.

    Default Gravatar
    AliNovember 9, 2013

    I am getting 16000 per month salary. Shall I get a credit card. Please let me know.

      AvatarFinder
      JacobNovember 11, 2013Finder

      Hi Ali.

      Thanks for your question.

      Please have a look at the minimum application requirements at the bottom of the card’s review to find out whether you’re eligible for a particular card.

      I hope this helps.

    Default Gravatar
    VishwasSeptember 30, 2013

    Hi my salary is $17,500 please confirm whether I can get a credit card?

      AvatarFinder
      JacobOctober 1, 2013Finder

      Hi Vishwas,

      Thanks for your question.

      While some credit card applications list a minimum income requirement, others don’t provide this information. Your annual earnings are only one of the factors used to assess your application and credit card providers do not usually need to list a minimum income requirement. Other key factors include your assets and savings, existing debts and liabilities as well as your share of household costs.

      You can compare credit cards and check their eligibility requirements before you apply. You may also ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered on your application.

      I hope this helps.

      Cheers,
      Jacob

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