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Valued Member
Posts: 41
Registered: ‎05-26-2012
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Minimum income requirement for visa signature cards?

What appears to be the lowest income needed to get the amazon rewards visa signature card, US bank cash+ visa signature card or other visa signature card?

Fifth Third Bank Closed 2008-2012 Joint $1,000 Limit $667 High Bal
US Bank Cash+ Visa Active since 2009 Joint $8,000Rev limit/NPSL $1,201 High Bal
Amazon Rewards Visa: Active since 2012 Individual $3,500 limit $1,342 High Bal
Amex BCE: Active since Jan 2014 Individual $3,300 limit 205 High bal
Salle mae rewards: Active since April 2014 Individual $2,400 limit
FICO: EXPN 736 EQFX 743 TU 762 (04/25/14)
INQUIRES: EXPN :11/2013,12/2013 EQFX: 11/2013 TU: 04/2014
Valued Contributor
Posts: 1,922
Registered: ‎06-21-2012
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Re: Minimum income requirement for visa signature cards?


variableResistor wrote:

What appears to be the lowest income needed to get the amazon rewards visa signature card, US bank cash+ visa signature card or other visa signature card?


My wife's salary at the time of app was ~$57,500.

Her salary is quite a bit lower than mine, but she was approved for a higher initial limit b/c she has less baddies and her scores are a little higher.

 

Not sure if that's on the lower end of the salary range or not.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board
Established Contributor
Posts: 599
Registered: ‎03-10-2012
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Re: Minimum income requirement for visa signature cards?

5k lines are really not hard to attain, even with less than median income(which is under 50k per person in the usa) especially if you have relatively low living costs(rent mortgage whatever)
EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Contributor
Posts: 91
Registered: ‎10-31-2012
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Re: Minimum income requirement for visa signature cards?


variableResistor wrote:

What appears to be the lowest income needed to get the amazon rewards visa signature card, US bank cash+ visa signature card or other visa signature card?


Point: Chase will issue non-Signature Amazon.com Rewards [Platinum] Visas to those whom they do not feel they can extend $5k to (they may not give out Signature to people who are borderline $5k either - the CL requirement is probably separate from the score requirement). US Bank, on the other hand, will downgrade you to a different card if you can't get the Signature.

 

Data Point: Chase gave me (cold app) a $5k CSP World MC (presumably identical approval for Visa Signature) with an income of $30k. I had no cards at $5k (in fact, no cards even at $1500), but 5 years of history and an $8k auto loan about 60% paid, no negative information. If I had read up on this forum, I probably would have applied for the Freedom instead. As always, your mileage may vary.

 

Presumably, if you had assets with Chase (maybe $5k or so), or an established payment history with another Chase card (or both), they might be more willing to overlook lower income. I believe they make higher swipe fees off Signature/World cards, so they would want to issue one to you if they feel it's worth the risk. Some cards (CS, CSP, United Club, Marriot Premier, etc.) only come in Signature/World, so they won't approve you if you can't get $5k.

 

On the other hand, I wonder if my app would have been borderline for a World/Signature card had I applied for a card with a lower tier available, e.g. maybe they would have issued a Freedom Platinum Visa/MC at maybe $4k instead of "bumping" me up to $5k to approve me for the card. However, I wouldn't risk it if your profile isn't there.

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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Re: Minimum income requirement for visa signature cards?

$36k if your credit is strong. Even less if your credit is very strong.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Frequent Contributor
Posts: 471
Registered: ‎03-29-2011
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Re: Minimum income requirement for visa signature cards?

Chase gave my son a Visa Signature with $25K income. Although his CL was $4,900.

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Established Contributor
Posts: 504
Registered: ‎08-28-2012
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Re: Minimum income requirement for visa signature cards?

My brother got a CSP with what I have to imagine is almost no reported income.  He's in between undergrad and medical school right now, living at home, and without employment.  He just spends his time volunteering at clinics and charities (and playing video games) until it's time to start studying again.  He also has stellar credit - I have to imagine it's 760+ with an AAoA of 4 years on two Chase cards before the CSP.

Valued Contributor
Posts: 2,275
Registered: ‎07-23-2012
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Re: Minimum income requirement for visa signature cards?

i dont have any visa sigs or wm (my bank doesnt offer them) 

 

but i have 2 5k(one is the walmart store card and second is my bank card in my sig) cards and a bunch less from 500-5k. 

income is 32k 

no baddies besides inq and aaoa. 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$6,400
Citi DC $10,000
Citizens Mastercard$7,000
Valued Contributor
Posts: 1,394
Registered: ‎01-14-2009
0

Re: Minimum income requirement for visa signature cards?

I think it has more to do with your credit experience rather than income.

Established Contributor
Posts: 599
Registered: ‎03-10-2012
0

Re: Minimum income requirement for visa signature cards?

even if that so, not much experience is required. Chase gave me 5K (and 3k on freedom same time) when my 2 highest limit cards were 2K and 3K, and 2/6 cards at 12 months (other 4 were 6 months or younger)

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
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