Check your credit card eligibility with a minimum salary
A salaried person has to always make their spending according to their salary amount. It has always been observed that by the end of the month, many of the salaried people struggle to make their ends meet. In such cases, if you have a credit card, it would be very helpful as you can make your purchases and pay the bills once your salary gets credited. But nowadays, CC issuers check various factors of eligibility, your income is one of them.
Lower salary can be an issue here, but there are some financial institutions that offer credit cards to low-salary individuals, although high-income individuals do get preference. It is believed that a high-income individual is more capable of paying their debts, and rightly so. However, there are cards issuers who offer credit cards to low-salaried individuals, but with low credit limits.
What is the minimum salary required for a credit card?
The minimum salary criteria for a credit card differs from one bank to the other. You have to compare the salary criteria of different banks and financial institutions. So, to make it easier we have compared some of the best card providers and their income criteria along with their eligibility criteria.
Axis Credit Cards
The income criteria are different for its customers and noncustomers. A customer of Axis Bank should be earning Rs. 25,000 per month to be eligible for a credit card. Whereas for those who are not customers of Axis Bank, they should be earning Rs. 50,000 per month to get an Axis Bank Credit Card. Only Indian citizens aged between 21-60 years can apply for this card.
ICICI Credit Cards
The salary criteria to get an ICICI credit is much less than that of an Axis credit card. Your monthly income should be at least Rs. 15,001 to get the credit card. You should be aged between 21-60 years to apply for the card. The good news is that your credit history is not mandatory to avail of an ICICI CC.
Bajaj Finserv Credit Cards
Another institution offering credit cards to low-salaried individuals is Bajaj Finserv. The minimum salary for a Bajaj Finserv Credit card is Rs. 25,000 per month. The other The other Bajaj Finserv Credit Card eligibility criteria include age, where the applicant must be older than 25 and has to be an Indian citizen criterion include age, where the applicant must be older than 25 and has to be an Indian citizen. The applicant also needs to have a good credit score.
HDFC Credit Cards
The minimum income to apply for an HDFC CC is that your annual salary should be at least 2 lakhs. You should be at least 21 years old, and not more than 65 years old. And just like ICICI credit cards, you can apply for this CC even if you don’t have access to your credit score.
Indusind Bank Credit Cards
To get an Indusind Bank Credit Card, your monthly income should be Rs. 30,000 or more. The minimum age to apply for the card is 21 years, and the maximum age is 70 years. And unlike ICICI credit cards and HDFC credit cards, you should have a good credit score to get this card.
Standard Chartered Credit Card
The income criteria for a Standard Chartered CC differ for salaried and self-employed individuals. Salaried people must be earning at least Rs. 32,500 per month, and as for the self-employed individuals, their minimum annual income should be at least Rs. 5.50 lakh. The age of salaried individuals should be below 60 years, whereas for self-employed applicants, they should be below 65 years of age. It is also important to have a good credit history to apply for a credit card from Standard Chartered.
Now that you know the minimum salary criteria, head over to Bajaj Finserv, and apply for the Bajaj Finserv RBL Bank SuperCard. With the power of four cards in one, this SuperCard ensures greater convenience, as you can easily avail loans, or withdraw cash from an ATM machine using the Bajaj Finserv credit card.