Compare low income credit cards

How to get a credit card on a low income

1. Look for a low rate credit card with a low credit limit. These cards are cheaper and easier to get with a low income because the amount you can spend on them is limited. Compare options in the table above.
2. Check if the credit card you want has a minimum income requirement. Many credit cards don't list a minimum income requirement but if a card does, then make sure you earn at least the minimum.
3. Check your credit score. If your credit score is too low you won't be able to get a card.
4. Try to keep your spending low before you apply. Credit card companies care about your spending as well as your income. If you spend most of your income each month you might not get approved for a card.

What are the features of a low income credit card?

• Lower minimum income requirements. Income requirements for these cards are typically between $20,000 and $35,000 per year. More premium cards have minimum income requirements of $75,000.
• Low minimum credit limits. These cards typically have minimum credit limits ranging from $500 to $1,000.
• Low annual fees. Typically they have annual fees of $100 or less.
• Interest rates. Some low income cards are also low rate cards that offer a purchase rate below 15% p.a.
• Interest-free days. Most credit cards offer interest-free days on purchases. The number of days (such as up to 55 days) varies from card to card.

You won't get as many perks or benefits with a low income credit card

Low income cards let you spend a bit of money flexibly with a lower rate and minimal fees. But you won't get extra benefits like frequent flyer points, cashbacks or reward points.

What counts as income?

Even if a card does not list a minimum income, showing proof of a regular income is a common requirement. Finder research shows that, for the 8% of Australians who have had a credit card application declined, unsteady income was the most common reason.

Credit card companies look at your regular salaried income. But they may also consider other payments like Centrelink payments, superannuation or pension income, and child support.

Keep in mind that your income is assessed against your expenses. You can get rejected for a card even if you earn enough because your spending is too high.

What happens if I can't pay my credit card bill?

How do I apply for a low income credit card?

If you've compared your options and found a credit card that suits your needs, you can apply online in around 10–20 minutes.

You need to be 18 or over to get a credit card in Australia. And you'll need ID and a residential address.

Details you'll need for the application

When you apply for a credit card, you are asked for information about your personal and financial circumstances.

• Personal details. This includes your full name, date of birth and residential address and living arrangements.
• Identification. You'll be asked for your driver's licence number, or another form of ID such as your passport or Medicare card number.
• Income information. This includes your employment status, salary, length of employment and your employer's contact details. You may also be asked for recent payslips or bank details.
• Other financial information. As well as your main source of income, you'll be asked about any other earnings or assets. You'll also need to give details of your monthly household expenses and any existing debts.

Can you afford the card?

Before applying for the card, make sure you can afford it. The key costs to look at are the annual fee, interest rate and credit limit.

Alternative options to a credit card

If you don't meet the income requirements, can't find a suitable card or need funds for a one-off expense, here are other options to consider:

• Personal loans. There are some personal loans with low income requirements. But as they may have higher interest rates and fees than other loans, make sure you consider the costs and compare options before deciding to apply.
• No interest loans. No Interest Loans (NILs) offer up to $3,000 for people who earn less than $70,000 (or $100,000 as a couple). These loans are administered by Good Shepherd and are available through a range of non-profit community organisations around Australia.
• Buy now pay later. Services like Afterpay and Zip give you a way to buy what you want and pay it off in instalments. Most buy now pay later accounts have a regular account fee, as well as late payment fees (or in some cases, interest charges), which can become expensive if you use it a lot and/or don't meet the repayment requirements.

Frequently asked questions

• Can I apply for a credit card if I'm unemployed?

  You need to receive a regular income to be approved for a credit card in Australia. Some credit card providers will consider applications when you receive payments from Centrelink, including Family Tax Benefit A and B, the Age Pension or Carer's Allowance (but not usually JobSeeker). Others may require you to be employed by a business or self-employed.

  If you're retired when you apply for a credit card, you will need to provide evidence of income from superannuation, the aged pension and any other assets. Check the card's eligibility criteria or contact the financial institution directly if you have questions about your circumstances.

• Can I apply for a credit card without proof of income in Australia?

  No. Your income is one of the key factors that lenders use to figure out if you'll be able to pay back what you spend on a credit card (or any other line of credit).

  This is because all credit card providers must follow consumer credit laws and meet responsible lending requirements. So they need to get accurate details of your financial situation – including your income, assets, debts and regular expenses.

• What is the lowest limit I could be approved for on a credit card?

  Minimum credit limits in Australia typically start from $500, which means this is the lowest limit available. But some cards have higher minimum credit limits.

  Choosing a card with a lower minimum credit limit can help you meet the eligibility requirements when you have a low income.

• What is considered a low income?

  A low income can broadly be defined as earning less than the average or median income in Australia. Data from Finder's Consumer Sentiment Tracker in October 2024 found the average personal income was $60,342 per year, so earning less than this could be considered a low income.

Written by

Richard Whitten

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 562 Finder guides across topics including:

• Home loans
• Property
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Co-written by

Amy Bradney-George

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