Minimum Salary Requirement for Credit Cards: Eligibility, Documents, How to Apply and More

Ever asked yourself, “Can I get credit card with 10000 salary?” Well, the answer to it is yes. Nonetheless, it depends heavily on the bank as well as your card type and credit history. Banks generally set income requirements, but there are special or secured Credit Cards and entry-level offerings that may be more lenient.

Financial institutions generally look at proof of stable employment, recent bank statements or ITRs, Identity proof, and address documents. Continue reading to learn about eligibility requirements, necessary paperwork, and strategies to enhance your chances, particularly if your source of income or steady income is modest.

What are the Minimum Salary Requirements in India for Credit Cards?

Average Salary Thresholds

For Entry-Level Credit Cards:

• Most banking institutions in India have a minimum monthly income specified. In most of the entry-level credit cards, the monthly salary required is usually between ₹15,000 and ₹25,000. 
• These cards are the ones to be used by people with a consistent income and the basic CIBIL score that usually has lower joining and annual fees and a decent amount of credit limit to conduct online transactions and unforeseen costs.

In case of Standard or Regular Credit Cards:

• These Credit Cards might be a bit higher monthly payment which is usually between ₹30000 and ₹200000 and some policy of the bank and income eligibility.

For Premium Credit Cards:

Premium Credit Cards provide special privileges, such as unlimited access to airport lounges, VIP services, and airport access, and golf privileges. They usually need a monthly income of ₹50,000 or above and a moderate average to high CIBIL score (750 and above).

Premium cards have joining fees and annual fees of between ₹10000 and ₹60000 and they tend to offer higher credit limit and better interest rate than entry-level cards.

For Exception and Low-Income Individuals:

• Other banks issue secured Credit Cards with fixed deposits or Card without income evidence, which require no minimum salary or is loosely required. 
• The 811 #DreamDifferent Credit Card of Kotak Mahindra Bank does not have a minimum income but demands a fixed deposit of 10,000 which is to be deposited in a Savings Account or Bank Account. 
• Easy EMI card offered by HDFC Bank has a minimum gross monthly income of 10,000 of the salaried workers in the eligibility criteria, which makes the card suitable under lower-income groups, who need to cover up sudden expenses with a low credit limit.

Real-life conditions of eligibility vary across banks and, therefore, before one applies, he/she should always check the conditions of the individual issuer.

What Eligibility Criteria Do Banks Usually Look For?

If you are applying and thinking, “Can I get credit card with 10000 salary?”, you will need to strengthen other areas of your application. Here are the typical eligibility requirements beyond salary:

Criteria What Banks Generally Expect

• Age - Usually between 18-21 years (lower bound) and 60-65 years (upper bound), depending on the issuer.
• Employment Status / Stability - Salaried or self-employed with consistent income; some banks want employment for at least 1 year to ensure financial stability and steady income.
• Residency / Citizenship - Must be an Indian resident; however, NRIs may be accepted with additional documentation.
• Credit Score / History - Good credit behaviour helps a lot. A high CIBIL score and responsible credit behaviour may get approval even if your income is on the lower side.
• Existing Debt Obligations - Banks will check your other liabilities. If you already have loans, EMIs, or other credit card debt, that will affect how they view your financial decisions and debt repayment habits.

How to Apply for a Credit Card With a Low Salary?

Applying for a credit card with a low salary might be challenging, but it is possible. Follow the steps below to raise your chances of quick approval from banks:

Step 1: Navigate through various Credit Cards designed specifically for lower-income groups.

Step 2: Ensure that you keep your monthly salary slips, Secure income proof, and income tax returns ready as solid proof of your source of income.

Step 3: Have a favourable CIBIL score. A poor credit record may be compensated by a poor credit income sometimes.

Step 4: Think about a secured credit card to assist in building your credit score and prove financial stability.

Documents to Required to Get Credit Card with Low Income

Proper documentation process is necessary even where the salary is low. The following are what you will normally require:

Identity Proof

• PAN Card
• Aadhaar Card
• Passport
• Voter ID
• Drivers License,etc.

Evidence of Residential/Address 

• Utility bills
• Aadhaar
• Passport
• Driving license
• Lease/rental agreement
• Others might accept new bank statements in which the address is attached to your savings account or bank account.

Proof of Income/Salary

• In the case of salaried persons: Recent pay slips (2-3 months) and bank statements indicating credit of salary. 
• In case of self employed: Income Tax Returns (ITR), profit and loss statements and possibly business registration. The bank might demand a stable income in a number of months.

KYC Documents

• Photographs
• Aadhaar

Special Case: 

Fixed Deposit / Secured Cards: When you are applying using a secured or deposit-backed card, you may have to provide a fixed deposit of some amount (e.g. 10,000 rupees) in place of good salary documents. This can also be connected to your Mobile Number to carry out simple online transactions.

Pros & Cons of Getting a Card with Low Salary

Pros

• Helps build credit history early and improve financial decisions.
• Access to basic benefits like convenience, digital payments, and small rewards.
• Can help in emergencies / for unexpected expenses.
• Opportunity to upgrade later as income increases with the help of a financial advisor.

Cons

• The credit limit might be very low.
• Interest rates might be higher, and charges may be less favourable compared to higher-income Credit Cards.
• Risk of overspending or inability to repay could hurt CIBIL score.
• Banks may set stricter terms, fees, or require FD collateral or Card without income proof.

Tips to Improve Approval Chances

• Increase revenue (where feasible): Part-time or even secondary business turns out to indicate a bigger inflow.
• Keep a bank account where there is a regular deposit of salary: When salary is deposited in a bank account, then it is good.
• Pay no defaults: Pay past dues and loans.
• Keep the use of credit low: In case you have credit cards or debts, make sure that you are not misusing them.
• Credit score: Even little things you do such as pay your credit card bills on time, use your credit card wisely will get you a long way.

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Conclusion

Thus, can I get a credit card with a ₹10,000 salary? Yes, but it has to be well planned. Before approving, banks consider your income, job stability, employment status, and the documents you provide. Providing valuable information and building a good credit record can raise your approval chances.

Most low-income earners' Credit Cards have limited functionalities and low credit limit, making them safer to use for online transactions. These cards also help you build a financial profile for future loans.

It is always advisable to compare various cards and review their terms and conditions before applying. Following a well-disciplined approach, a credit card can be a valuable tool for a moderate monthly income.

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