76 Credit Cards Income Requirement for Low/High Income Earners

Credit Card Minimum Income Requirement

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. And the main reason for rejection is that the applicant is not aware of the income requirement and applies for the card directly.

So here is the table showing 76 credit cards and their minimum income requirement ( annual/monthly income required:

Sr. NoCredit Card NameMinimum Annual Income Required (Rs.)Equivalent Minimum Monthly Income Requirement (Rs.)Card Issuing Bank
1Visa Classic for Self Employed50,0004,166Vijaya Bank
2Visa Classic for Salaried60,0005,000Vijaya Bank
3Classic for Salaried60,0005,000Syndicate Bank
4Classic for Senior Citizen60,0005,000Syndicate Bank
5Bharat72,0006,000Indian Bank
6India Card75,0006,250Bank of India
7Empowerment for Salaried80,0006,666Jammu and Kashmir Bank
8Canara Visa Classic / MasterCard Standard1,00,0008,333Canara Bank
9Classic for Self Employed1,00,0008,333Syndicate Bank
10Visa Global for Self Employed1,00,0008,333Vijaya Bank
11Visa Global for Salaried1,20,00010,000Vijaya Bank
12Gold for Senior Citizen1,20,00010,000Corporation Bank
13Freedom Card1,44,00012,000HDFC Bank
14Bharat CashBack1,44,00012,000HDFC Bank
15Visa Gold1,50,00012,500Bank of India
16RuPay Platinum1,50,00012,500Central Bank of India
17Gold1,50,00012,500Indian Bank
18Classic1,50,00012,500Indian Bank
19Visa Gold International1,50,00012,500Bank of India
20Empowerment for Self Employed1,50,00012,500Jammu and Kashmir Bank
21Gold for Salaried1,50,00012,500Syndicate Bank
22Platinum1,50,00012,500Indian Bank
23Visa Gold1,50,00012,500Central Bank of India
24MasterCard Titanium1,50,00012,500Central Bank of India
25Axis Bank Gold1,80,00015,000Axis Bank
26RuPay Platinum1,80,00015,000Andhra Bank
27Gold for Salaried1,80,00015,000Corporation Bank
28Gold for Professional1,80,00015,000Corporation Bank
29Canara Gold2,00,00016,666Canara Bank
30Gold for Self Employed2,00,00016,666Syndicate Bank
31Titanium2,00,00016,666Bank of Baroda
32Gold for Self Employed2,00,00016,667Corporation Bank
33Select9,00,00075,000Axis Bank
34Vistara Infinite6,00,00050,000Axis Bank
35Vistara Signature6,00,00050,000Axis Bank
36Vistara6,00,00050,000Axis Bank
37Privelege Credit Card6,00,00050,000Axis Bank
38Diners Club Premium7,20,00060,000HDFC Bank
39Diners Club Rewardz3,60,00030,000HDFC Bank
40Business Regalia First7,20,00060,000HDFC Bank
41VISA Classic3,00,00025,000Andhra Bank
42VISA Platinum5,00,00041,666Andhra Bank
43VISA Signature10,00,00083,333Andhra Bank
44RuPay Select5,00,00041,666Andhra Bank
45Signature12,00,0001,00,000Bank of Baroda
46Platinum4,00,00033,333Bank of Baroda
47Bombay Bullion (Co-branded)3,00,00025,000Bank of Baroda
48Platinum for Salaried2,50,00020,833Corporation Bank
49Platinum for Senior Citizen2,50,00020,833Corporation Bank
50Platinum for Professional3,00,00025,000Corporation Bank
51Platinum for Self Employed3,00,00025,000Corporation Bank
52Signature Card for Salaried10,50,00087,500Corporation Bank
53Signature Card for Professional10,50,00087,500Corporation Bank
54Signature Card for Senior Citizen10,50,00087,500Corporation Bank
55Signature Card for Self Employed10,50,00087,500Corporation Bank
56Vijay RuPay Credit CardNANAVijaya Bank
57MasterCard World5,00,00041,666Central Bank of India
58Visa Platinum5,00,00041,666Central Bank of India
59Aspire (Against Fixed Deposit)20,000 (Minimum Deposit)-Central Bank of India
60Rupay PlatinumApplicant should be account holder-Central Bank of India
61RuPay SelectApplicant should be account holder-Central Bank of India
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
75Gold3,00,00025,000Dhanlaxmi Bank
76Platinum6,00,00050,000Dhanlaxmi 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.

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 may 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.

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:

Hi, I am Nikesh Mehta owner and writer of this site.

Nikesh Mehta - ImageI’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business.

I can be reached at [email protected]. You may also visit my LinkedIn profile.

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