
If you're a low earner, finding a credit card that suits your income can be a challenge. Some credit cards have minimum income requirements that may be out of your reach.
For example, the American Express Blue Cash Preferred card has a minimum income requirement of $25,000 per year. This can be a barrier for those who earn less.
However, there are credit cards that cater to low earners, with more relaxed income requirements or even no income requirement at all. These cards may have different features and benefits, but they can still provide access to credit.
One such example is the Discover it Cash Back card, which doesn't have a minimum income requirement. This makes it a more accessible option for those with lower incomes.
Credit Card Requirements
Credit card issuers don't typically publish minimum income requirements because income alone is an incomplete measure of an applicant's financial well-being.
Your income is just one factor that card issuers consider when evaluating your application, and it's used to calculate your debt-to-income (DTI) ratio.
The DTI ratio is a more holistic measure of your ability to make a minimum payment on your credit card.
Applying for a Credit Card
Applying for a credit card requires some basic information, including your income, employment status, and credit history. You'll need to provide your Social Security number or Individual Taxpayer Identification Number (ITIN) to verify your identity.
Most credit card issuers have a minimum income requirement, which can vary from $1,000 to $10,000 per month, depending on the card and issuer. For example, the Citi Double Cash Card requires a minimum income of $1,000 per month.
Your credit score plays a significant role in determining your credit card approval, with most issuers looking for a score of 650 or higher. If you have a credit score below 600, you may want to consider working on improving your credit before applying for a credit card.
What to Include in Your Application
You'll be asked to share your total gross annual income on your credit card application, which can be a bit tricky to figure out. This includes your salary, wages, interest, dividends, rental income, and retirement benefits.
You don't have to include alimony, child support, or separate maintenance income if you don't want it considered as a basis for repaying this obligation, but you can include income from others that you can reasonably access to pay your bills if you're 21 or older.
You can include household income on your application if you're 21 or older, but if you're under 21, you can only include your own income.
The income you list doesn't have to be what's shown on your tax return for the past year, but rather can reflect what you expect to earn in the current year.
If you're 21 or older and "regularly use income from others to pay your bills", you can include that too. This is pretty open-ended, but it's good to know.
Some examples of income you can include are full-time, part-time, internship, or seasonal jobs, self-employment, interests or dividends, investments, retirement, Social Security benefits, and public assistance.
You can also include money that someone else deposits regularly into your account and income that you or your tax advisor have decided isn't subject to income tax, like money received from disability, worker's compensation, child support, housing allowance, Social Security, or public assistance.
If you include non-taxable income, you should increase that amount by 25% to reflect its actual value.
Here are some key points to keep in mind:
- The income you list can reflect what you expect to earn in the current year, not just what's shown on your tax return.
- You can include household income on your application if you're 21 or older.
- You can include income from others if you're 21 or older and regularly use it to pay your bills.
- You don't have to include alimony, child support, or separate maintenance income.
- You should increase non-taxable income by 25% to reflect its actual value.
Best for Students: Cash Back Discovery
The Discover it Student Cash Back credit card is a great option for students. It doesn't require a credit score to apply, making it accessible to those just out of high school.
You'll get 5% cash back on everyday purchases, including groceries, dining, gas stations, and online shopping at Amazon. That's a pretty sweet deal.
The cash back is automatically matched by Discover at the end of your first 12 months, so you could turn $250 into $500 worth of free money. That's a dollar-for-dollar match, no matter how much you've spent or earned already.
There's no annual fee with this card, and you'll get a 0% APR promotional rate for your first six months.
Income and Credit Score
Showing little or no income might make it tough to get approved for some cards, since understandably card issuers will wonder about your ability to pay off bills without certain income.
Your income plays a significant role in determining the credit limit you'll be extended, as someone with a higher income is likely to be extended more credit than someone with a lower income.
Credit card issuers consider a lot of factors when approving people for cards, including credit score, current available credit with the issuer, average age of accounts, credit utilization, payment history, and more.
Income and Credit Score
Income and credit score are closely linked, but it's not just about how much you earn. Showing little or no income might make it tough to get approved for some cards, since card issuers will wonder about your ability to pay off bills without certain income.
Your income is just one factor considered in credit card applications, along with credit score, current available credit, average age of accounts, credit utilization, and payment history. Ultimately, credit card issuers consider a lot of factors when approving people for cards.
Card issuers don't typically publish minimum income requirements, since income alone is an incomplete measure of an applicant's financial well-being. It's just one factor of a more holistic measure of a cardholder's ability to make a minimum payment, referred to as the debt-to-income (DTI) ratio.
Your debt-to-income ratio shows how much money you owe versus how much money you earn. If you earn a great living but you have too much debt, you could be rejected for a credit card. The Consumer Financial Protection Bureau recommends a maximum DTI ratio of 43 percent to qualify for a mortgage.
Here's a rough guide to acceptable debt-to-income ratios:
Your income can come from various sources, including full-time or part-time jobs, freelance work, spouse's income, and more. You can usually factor any of the following into your annual net income: income from a full-time or part-time job, spouse's income, unemployment benefits, child support, grants and scholarships, Social Security income, retirement fund and pension distributions, savings account assets, gifts, allowances, trust fund or inheritance distributions, and investment returns.
Income from loans, your parents' income, non-cash assistance, some types of financial aid, and one-time gifts will not count toward your annual net income.
Student Status
If you're a student, you're in a unique situation when it comes to credit cards and building your credit score.
As a student between 18 and 20, you'll need to show proof of independent income or have a guarantor to get a credit card.
You might be able to count regular allowances or money left over from grants and scholarships after tuition is paid as income.
If you're 21 or older, you can show income from part-time or full-time employment, tips count too.
Credit Score vs. Credit Report
The traditional credit score system can be a major hurdle for people just entering the job market, who may have a low credit limit despite having reliable income.
X1 Card wants to solve this problem by setting limits based on your current and future income instead of your credit score.
You can get higher limits with X1 Card, up to five times higher than what you would get from a traditional credit card.
The company uses a variable APR of 12.9 to 19.9% and a balance transfer fee of 2%, which is similar to other credit cards.
However, X1 Card doesn't charge an annual subscription fee, and it doesn't change any late fee or foreign transaction fee.
This is a big advantage over traditional credit cards, which often have hidden fees that can add up quickly.
X1 Card's founders, including Deepak Rao, were frustrated with the traditional credit score system, which they say is "archaic" and doesn't make sense for modern consumers.
Verification and Approval
Credit card issuers can't automatically verify your income from your credit report or tax returns. However, they may ask for proof of income before approving you, although this is not common.
If you're asked for proof of income, you can share your projected income for the year, especially if you have a variable income or own a business. You can also share income reflecting money you'd reasonably have access to.
Here are some things to keep in mind when sharing your income on a credit card application:
- Be honest and accurate to the best of your ability
- It's okay if your stated income isn't exact, especially if you have a variable income
- Card issuers may already know what you've stated as your income in the past if you already have a credit card or account with them
Keep in mind that the CARD Act requires card issuers to consider your ability to make payments before approving you for a credit card or increasing your credit limit. Your income helps issuers determine your credit line and whether or not you'll be able to make payments.
Can a Company Verify Your Info?
Credit card companies can't automatically verify your income, but they might ask for proof of income in certain situations.
A credit card issuer can ask for proof of income before approving you, but this is not a common practice.
They might request financial documents if they're doing a financial review, often due to suspicious spending patterns.
If you already have a credit card with a card issuer, they may already know what you've stated as your income in the past.

It's essential to answer credit card applications honestly, even if your listed income isn't exact.
You can share your projected income for the year, especially if you have a variable income or own a business.
If you're 21 or over, you can share your household income, and even income reflecting money you'd reasonably have access to.
Here are some scenarios where a credit card issuer might ask for proof of income:
- When you apply for a credit card
- During a financial review due to suspicious spending patterns
What Happens If You Lie on an Application
Lying on a credit card application can have severe consequences. You could end up in debt and hurting your credit, which can prevent you from renting a home, getting approved for a mortgage, or opening another credit card.
Issuers can revoke your card if they find out you lied. This can leave you without a credit card and a way to make purchases.
Lying on a credit card application could even result in up to 30 years of jail time and a fine of up to $1 million.
Credit Card Options for Low Earners
You can get a credit card even if you're on a low income, but you may not be offered the best options.
A wide range of credit cards are designed for those on low incomes or those looking to build their credit scores back up.
Your income has no direct impact on your credit score, so you can still have a great credit score even if you're not earning very much money.
Low Income Possibility
You can get a credit card on a low income, but you might not get the best options. Having a low-income job or being unemployed doesn't automatically disqualify you from getting a credit card.
Credit card issuers consider many factors when approving people for cards, including credit score, current available credit, and payment history. Your income has no direct impact on your credit score, but a sudden loss in earnings can hinder your ability to make on-time payments.
It's essential to think carefully before getting a credit card, especially if you're not working, as taking on debt can lead to bigger financial problems. If you're in a position to take on a credit card responsibly, it can be a great option to build your credit score.
Here's a breakdown of how income impacts credit card applications:
- Showing little or no income might make it tough to get approved for some cards.
- Income plays a significant role in determining your credit limit, with higher-income individuals likely to be extended more credit.
- Card issuers might not consistently ask about net worth, which can be a concern for individuals with a high net worth but low income.
It's worth noting that credit card issuers will wonder about your ability to pay off bills without certain income, which might affect your approval chances.
No Annual Fee + Cash-Back Rewards
For low earners, a no-annual-fee credit card is a great option because it won't cost you any money to carry. This can help bolster your credit history, as the average age of your accounts is a factor in determining your credit scores.
A card with no annual fee is especially helpful because it's easy to carry for a long time. This is because the older your accounts, the better your credit scores will be.
The Citi Double Cash Card is a top choice for its 2% cash back on everything, including 1% when you buy and 1% when you pay your bill. This is among the highest ongoing rewards rate available.
The Bank of America Customized Cash Rewards credit card is another option with a slightly more complicated rewards program. You can earn 3% cash back in the category of your choice, including gas/EV charging stations, online shopping, dining, travel, drugstores, or home improvement/furnishings.
You can earn the higher cash-back rates on up to the first $2,500 in combined spending per quarter. This is a great opportunity to earn more rewards on your everyday purchases.
Here are the key features of the Bank of America Customized Cash Rewards credit card:
- Earn 3% cash back in the category of your choice
- Earn 2% back at grocery stores and wholesale clubs
- Earn 1% cash back everywhere else
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Issuer-Specific Policies
Issuer-specific policies play a significant role in determining your eligibility for a credit card based on income. Some issuers have concrete income minimum requirements, which can affect your ability to get a credit card.
For example, Capital One requires applicants' income to be at least $425 per month higher than their monthly mortgage or rent payments to be eligible for certain credit cards. This means that if you're struggling to make ends meet, you might be rejected for a card with a high minimum income requirement.
The Wells Fargo Autographâ„ Card, on the other hand, outlines a minimum credit limit of $1,000, which can be a barrier for those with lower incomes. If your income is too low to support a $1,000 monthly credit limit, you'll likely be rejected for this type of card.
Issuer-Specific Policies
Issuer-specific policies can be a major hurdle for those applying for a credit card. Some issuers have strict income requirements, like Capital One, which requires applicants' income to be at least $425 per month higher than their monthly mortgage or rent payments.
The specifics of these requirements can vary greatly between issuers. For instance, the Wells Fargo Autographâ„ Card outlines a minimum credit limit of $1,000.

If your income is too low, you may be rejected for certain cards. This is especially true if the credit limit is too high for your financial situation.
Some issuers also consider debt-to-income ratio limits when making approval decisions. However, the CARD Act doesn't set income requirements, leaving it up to the discretion of card issuers.
Capital One's income requirement is a notable example of how issuers can set their own rules. This requirement can affect your ability to get a credit card, so it's essential to check the issuer's terms and conditions before applying.
Wells Fargo Reflect Card: 0% APR
The Wells Fargo Reflect Card is a great option for those looking for a 0% APR credit card, especially on low income. It offers 0% APR for 18 months on eligible purchases.
You can also get a 0% introductory rate on balance transfers, which can be a huge help if you need to pay off debt. This can give you some breathing room to pay off your balance without worrying about interest piling up.
If you use your card responsibly and make all of your minimum monthly payments on time, you may even qualify for an intro APR extension of three months after your initial promotional rate has ended. This can give you some extra time to pay off your balance without incurring interest.
There's no annual fee with the Wells Fargo Reflect Card, which is a big plus. You'll also get up to $600 worth of cell phone protection if you pay your monthly cell phone bills using your Wells Fargo card.
Just keep in mind that there's a $25 deductible if you do need to make a claim.
Frequently Asked Questions
What is the easiest credit card to get right now?
For those with no credit or low credit, consider the Petal 2 "Cash Back, No Fees" Visa Credit Card or the First Progress Platinum Prestige Mastercard Secured Credit Card. If you're looking for rewards, the U.S. Bank Cash+ Visa Secured Card offers cash back benefits.
What is the credit limit for an $50,000 salary?
For an individual with a $50,000 salary, credit card issuers may offer a credit limit of $100,000 to $150,000, depending on their credit score. This range can vary based on individual creditworthiness.
Sources
- https://techcrunch.com/2020/09/17/x1-card-is-a-credit-card-based-on-your-income-not-your-credit-score/
- https://onemileatatime.com/guides/income-credit-card-application/
- https://www.bankrate.com/credit-cards/advice/credit-card-income-requirements/
- https://www.nerdwallet.com/article/credit-cards/credit-card-offers-lowincome-earners
- https://www.joinkudos.com/blog/best-credit-card-for-low-income
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