2019: 74 Credit Cards for Low/High Income Earners

Ever thought of getting free money every month to buy almost anything in the world, from anywhere, in addition to free period to payback the bill, and that too with an option to pay minimum amount only and not the full amount? That’s what credit card is all about, the most widely used payment method in the world whose usage is now growing steadily in India as well. These are just few benefits offered by the credit card but the most important ones attracting users across the globe. However the painful thing is not everyone is eligible to get credit card despite of everyone being interested in owning a one. Card applications are scrutinized in detail and typically are rejected because of:
  • Poor credit score
  • No credit history
  • Low income
  • No income/address proof and few others.
The decision to approve or reject the application is solely dependent on the bank or card issuer and you may never come to know the reason for the rejection. For e.g. If you are able to meet income criteria, the card application can get rejected, if you do not have income proof and so on. In case of credit card (or loan) the applicant’s income is the most commonly checked eligibility criteria. Income/salary is actually directly proportional to the credit card limit and approval chances. Income and credit history check are the only ways for a card issuer to evaluate credit worthiness of the individual and stop them from investing in a loss making customer. Higher income will add more weightage to your application and you will have good chance of card approval along with a high credit limit. But at the same time, low income may result in application rejection. And if approved, the limit will be lower. But this doesn’t mean – poor income earners will never get a credit card. Because issuers want to sell more and more cards (but only to individuals who according to them are credit worthy). There are cards for low income individuals offered by various banks in India. Their objective is to tap low income groups in need of credit. Here is the table showing 74 credit card and the annual/monthly income requirement:
Sr. NoCredit Card NameMinimum Annual Income Required (Rs.)Equivalent Minimum Monthly Income (Rs.)Card Issuing Bank
1India Card75,0006,250Bank of India
2Visa Gold1,50,00012,500Bank of India
3Visa Gold International1,50,00012,500Bank of India
4Axis Bank Gold1,80,00015,000Axis Bank
5Select9,00,00075,000Axis Bank
6Vistara Infinite6,00,00050,000Axis Bank
7Vistara Signature6,00,00050,000Axis Bank
8Vistara6,00,00050,000Axis Bank
9Privelege Credit Card6,00,00050,000Axis Bank
10Freedom Card1,44,00012,000HDFC Bank
11Bharat CashBack1,44,00012,000HDFC Bank
12Diners Club Premium7,20,00060,000HDFC Bank
13Diners Club Rewardz3,60,00030,000HDFC Bank
14Business Regalia First7,20,00060,000HDFC Bank
15Canara Visa Classic / MasterCard Standard1,00,0008,333Canara Bank
16Canara Gold2,00,00016,666Canara Bank
17RuPay Platinum1,80,00015,000Andhra Bank
18VISA Classic3,00,00025,000Andhra Bank
19VISA Platinum5,00,00041,666Andhra Bank
20VISA Signature10,00,00083,333Andhra Bank
21RuPay Select5,00,00041,666Andhra Bank
22Titanium2,00,00016,666Bank of Baroda
23Signature12,00,0001,00,000Bank of Baroda
24Platinum4,00,00033,333Bank of Baroda
25Bombay Bullion (Co-branded)3,00,00025,000Bank of Baroda
26Gold for Salaried1,80,00015,000Corporation Bank
27Gold for Professional1,80,00015,000Corporation Bank
28Gold for Senior Citizen1,20,00010,000Corporation Bank
29Gold for Self Employed2,00,00016,667Corporation Bank
30Platinum for Salaried2,50,00020,833Corporation Bank
31Platinum for Professional3,00,00025,000Corporation Bank
32Platinum for Senior Citizen2,50,00020,833Corporation Bank
33Platinum for Self Employed3,00,00025,000Corporation Bank
34Signature Card for Salaried10,50,00087,500Corporation Bank
35Signature Card for Professional10,50,00087,500Corporation Bank
36Signature Card for Senior Citizen10,50,00087,500Corporation Bank
37Signature Card for Self Employed10,50,00087,500Corporation Bank
38Visa Classic for Salaried60,0005,000Vijaya Bank
39Visa Classic for Self Employed50,0004,166Vijaya Bank
40Visa Global for Salaried1,20,00010,000Vijaya Bank
41Visa Global for Self Employed1,00,0008,333Vijaya Bank
42Vijay RuPay Credit CardNANAVijaya Bank
43MasterCard Titanium1,50,00012,500Central Bank of India
44Visa Gold1,50,00012,500Central Bank of India
45RuPay Platinum1,50,00012,500Central Bank of India
46MasterCard World5,00,00041,666Central Bank of India
47Visa Platinum5,00,00041,666Central Bank of India
48Aspire (Against Fixed Deposit)20,000 (Minimum Deposit)Central Bank of India
49Rupay PlatinumApplicant should be account holderCentral Bank of India
50RuPay SelectApplicant should be account holderCentral Bank of India
51Gold1,50,00012,500Indian Bank
52Classic1,50,00012,500Indian Bank
53Bharat72,0006,000Indian Bank
54Platinum1,50,00012,500Indian Bank
55Gold for Salaried1,50,00012,500Syndicate Bank
56Gold for Self Employed2,00,00016,666Syndicate Bank
57Classic for Salaried60,0005,000Syndicate Bank
58Classic for Self Employed1,00,0008,333Syndicate Bank
59Classic for Senior Citizen60,0005,000Syndicate Bank
60Empowerment for Salaried80,0006,666Jammu and Kashmir Bank
61Empowerment for Self Employed1,50,00012,500Jammu and Kashmir Bank
62Visa Platinum5,00,00041,666HSBC Bank
63Gold5,00,00041,666HSBC Bank
64Platinum Chip2,50,00020,833ICICI Bank
65Coral5,00,00041,666ICICI Bank
66Rubyx10,00,00083,333ICICI Bank
67Sapphiro15,00,0001,25,000ICICI Bank
68Ferrari Signature15,00,0001,25,000ICICI Bank
69Jet Sapphiro15,00,0001,25,000ICICI Bank
70Jet Rubyx10,00,00083,333ICICI Bank
71Jet Coral5,00,00041,666ICICI Bank
72Ferrari Platinum5,00,00041,666ICICI Bank
73Instant Platinum (Against Fixed Deposit)20,000 (Minimum Deposit)ICICI Bank
74Coral 20,000 (Minimum Deposit)ICICI Bank
Few cards (RuPay) and against fixed deposit, as mentioned above, are offered only to the account holders of the respective bank with income being the least important criteria. For cards against FD, income is not the eligibility criteria. Only a minimum deposit amount is required to get a credit card against FD. As you can see, low monthly income earners can also get credit card provided they meet other eligibility criteria of the issuing bank. There are many other cards offered by various banks in India but income criteria could not be found. So if you are approaching any bank for credit card, ask for list of all the cards. Note: As mentioned above there are many reasons for card application rejection and income is one of them. The decision is solely on the bank to approve or reject. And in your spare time, do mention the card name, income criteria and name of the bank in the comment section of this page. We will add the card to the above list, so that it will help other readers of the site.

Author Bio – Chandra Mehta:

This article has been written by Chandra Mehta.

Chandra is a seasoned banker with 35+ years of experience in banking and financial services industry. He’s a retired banker and has served as Chief Manager and Assistant Vice President in State Bank of India/or its subsidiaries.

He has authored many articles on this site (allonmoney.com).

He can be reached at [email protected]. You may also visit his LinkedIn profile.

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