How strict are credit card providers with the minimum income requirement?
The restriction on minimum income ensures you get a credit card that suits your income, and offers some protection from getting into too much debt.
Banks want to examine your income, expenses, debts and other financial circumstances before deciding whether to approve you for a credit card and for what limit. They need to know you can afford to use the card and are not at high risk of default.
A bank may then decide to consider your application even if it has a higher level than your current earnings, especially if your credit score looks great and other eligibility criteria meet their approval. Another good reason to check and be aware of your credit score.
Of course, you will need to weigh the risk of applying for a card that states a higher income than what you earn, as it may affect your credit score if declined. Learn more about credit score here.
You may also discover that you earn enough to qualify for a more prestigious credit card with extra features and benefits better suited to your lifestyle.
For some tips on how to apply and increase your chances of getting approved, go here.
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The products, banks and companies mentioned in this Ask Miles question and answer were correct at the time of publishing. The information published is general advice only and should not be taken as specific personal finance advice.