How low income credit cards work

Even if you have low or no income, you might still be able to get credit. Apply for a credit card for low income below.

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By

Chris Lilly

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Some cards make it easy to apply for a credit card when your income is low. There are even provisions for those who earn no income at all to get access to credit. But it's important to remember that your salary (or other income) is never the sole factor in your qualification for a credit card.

Compare credit cards for low income

Table: sorted by representative APR, promoted deals first
Updated daily
Name Product Ratings Finder rating Customer rating Minimum income Purchases Annual/monthly fees Representative APR Link Incentive Representative example
NatWest Purchase & Balance Transfer Credit Card
NatWest Purchase & Balance Transfer Credit Card
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User rating
£10000
0% for 17 months reverting to 24.9%
£0
24.9%
Go to site
Read review
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
NatWest Reward Credit Card
NatWest Reward Credit Card
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User rating
£10000
25.9%
£24 per annum. Reward Current Account holders: £0 per annum
31%
Go to site
Read review
You'll earn 1% back at supermarkets and 0.25% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back.
Representative example: When you spend £1,200 at a purchase rate of 25.9% (variable) p.a. with a fee of £24 per annum. Reward Current Account holders: £0 per annum, your representative rate is 31% APR (variable).
Royal Bank of Scotland Purchase & Balance Transfer Credit Card
Royal Bank of Scotland Purchase & Balance Transfer Credit Card
Finder score
★★★★★
★★★★★
Expert analysis
Not yet rated
£10000
0% for 17 months reverting to 24.9%
£0
24.9%
Go to site
Read review
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Royal Bank of Scotland Reward Credit Card
Royal Bank of Scotland Reward Credit Card
Finder score
★★★★★
★★★★★
Expert analysis
Not yet rated
£10000
25.9%
£24 per annum. Reward Current Account holders: £0 per annum
31%
Go to site
Read review
Earn 1% back at supermarkets and 0.25% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back.
Representative example: When you spend £1,200 at a purchase rate of 25.9% (variable) p.a. with a fee of £24 per annum. Reward Current Account holders: £0 per annum, your representative rate is 31% APR (variable).
NatWest Credit Card
NatWest Credit Card
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User rating
£10000
12.9%
£0
12.9%
Go to site
Read review
Representative example: When you spend £1,200 at a purchase rate of 12.9% (variable) p.a., your representative rate is 12.9% APR (variable).
NatWest Longer Balance Transfer Credit Card
NatWest Longer Balance Transfer Credit Card
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User rating
£10000
0% for 3 months reverting to 24.9%
£0
24.9%
Go to site
Read review
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
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What is a credit card for low income?

Low income credit cards are for people with low incomes, providing them with a line of credit they might not otherwise have access to. In the UK, income is just one of many factors that a card issuer will consider when you apply for a credit card. Credit card issuers will sometimes (but not always) explicitly state income requirements for a given card.

How does a card issuer determine if I qualify for a credit card?

Credit card issuers must only lend responsibly – that means running affordability checks and assessing each applicant’s circumstances to aim to ensure that any credit offered would be affordable, and wouldn’t have the potential to lead to serious debt problems.

In order to determine someone’s eligibility, the card issuer will weigh up several factors, like your credit score and history. As well as your regular income and outgoings, card issuers will want to look at your debt-to-income ratio – that’s your combined monthly debt payments in comparison to your monthly income.

Issuers will look at these and other factors when determining how much credit you can afford to service, and will then decide whether to offer a card, and will set your credit limit accordingly.

What should I look out for when comparing credit cards for low incomes?

  • Annual/monthly account fees. High-end rewards cards often come with an annual fee. Naturally, you should look to avoid this.
  • Interest rates. It’s possible you’ll pay a slightly higher-than-average rate if a card issuer deems you to represent higher risk. However, provided you clear your balance in full every month, most cards on the market won’t charge you interest at all – thanks to standard grace periods.
  • Promotions. Plenty of cards come with introductory 0% interest periods that apply to balances transferred from other cards or to forthcoming purchases. However, the best of the deals can be harder to get approved for.
  • Perks. The fact that you’re not Richard Branson doesn’t mean that your credit card can’t reward you. Some of the biggest supermarkets in the UK offer credit cards for low incomes that boost your loyalty points earnings, for example.
  • Eligibility. Don’t apply for a card without researching your eligibility. Most issuers offer a soft-searching “eligibility checker” that’s quick and easy and doesn’t impact your credit score.

What about secured credit cards?

Secured credit cards are a big thing in the US, but much less so in the UK. These cards involve putting down a lump sum as security when you take out the card. Capital One has offered secured cards in the UK in the past.

Full guide to secured credit cards

Bottom line

If you’re on a low income, you could still be able to access credit as your income is not the only factor that lenders look at.

Just remember to compare your options from our table above and make sure you meet a lender’s criteria before applying.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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