Is there a minimum income requirement for WEMC’s?

[Anonymous]

Asking about those cards issued by capital one which are WEMC, is there a minimum income requirement on the application versus just WMC?

[Anonymous]

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@Anonymous wrote:

Asking about those cards issued by capital one which are WEMC, is there a minimum income requirement on the application versus just WMC?

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Nothing specifically for being WEMC, (although obviously any specific card might have an income requirement).   Remember that WEMC can be issued with very small credit limits, I think $300 is the smallest I've seen.   Unless they have opted-in to many benefits, issuers like to give them out as they get larger swipe fees for very little cost.

[Anonymous]

Thanks, I wasn't sure as I had read a lot of articles similar to this: https://www.greedyrates.ca/blog/mastercard-increases-minimum-income-requirement-world-elite-cards/

But that would make sense if it varies by the card issuer

[Anonymous]

I got a $10K SavorOne WEMC with $18K income so if they do have one, the bar isn't very high. My experience isn't typical by any means, I suspect it was because I had already been a customer for 5 years, just adding the DP. 

[Anonymous]

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@Anonymous wrote:

Thanks, I wasn't sure as I had read a lot of articles similar to this: https://www.greedyrates.ca/blog/mastercard-increases-minimum-income-requirement-world-elite-cards/

But that would make sense if it varies by the card issuer

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That's an interesting article, saying that the requirements are because of an agreement with the Canadian government to lower average interchange rates (so not everyone should have a WEMC/Visa Infinite).   As far as I know, there is no such constraint in the US

[FalconSteve]

WEMC in the US has no minimum income or CL requirements, but they are "traditionionally" for CL over $5000, but are used below that all the time, especially on 2% cards.

[blindambition]

While some cards like JPM, or Amex *Black Card* certainly require a income requirement, and UW may consider income on any card, income doesn't decide level of card. All Apple are WE MC. They don't necessarily give extra benefits, but allows lenders to collect higher swipe fees.
Also for lenders like GS with Apple, the WE provides an illusion of prestige.