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Minimum income to get accepted for certain cards?

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Member

Minimum income to get accepted for certain cards?

So I've been reading all the credit(card) related forums/recently and have been addicted to learning more about it. As a 20 year old with a not so great job/income I had a question. Do certain cards require a minimum income to get accepted? I believe I read the csr has a minimum 10k credit limit so someone with a 20k income probably wouldn't get accepted for example. Is there a list with the info I'm looking for? 

 

Thanks!

Scores: TU 773 - EQ 731 - Ex 755 (12/07/17)
Wallet: Capital one quicksilver One $1,500 - Chase Freedom $1,500 - Chase Freedom Unlimited $1,500 - Chase Amazon Prime $1,500 - Amex BCE $4,500 - Amex Everyday $2,500 - Amex Delta Skymiles $6,000 - Amex PRG - Citi DoubleCash $2,500 - Discover it 5% $5,500 -
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Valued Contributor

Re: Minimum income to get accepted for certain cards?

Probably not a list but there are those who have total CL far exceeding their income. And I suspect there are CCC who will only approve with a minimum income..

Amex Green • Amex BCP • Amex HH (Aspire®) • Barclay Rewards • Chase World of Hyatt • Chase FU • Capital One Quicksilver • Discover it • PENFED Platinum Rewards • Marvel MC • Amazon Store • Kohls Store • CL $109,330 • Car Loan (PENFED) 1.99% PAID

FICO® 8 Scores 805-812 FICO® 9 Equifax 822
Message 2 of 13
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Valued Contributor

Re: Minimum income to get accepted for certain cards?

I'm sure minimum incomes are required for all cards, but no one knows for sure what that is. I will say that if you're making $20K a year, I just simply can't see how a CSR at $450AF can make any sense for you. So a realistic individual will app for cards that are on par with their income.
Message 3 of 13
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Super Contributor

Re: Minimum income to get accepted for certain cards?

CSR on $20k would be pushing it, but keep in mind that any decent card bonus at that income level can give someone's travel budget a big boost. Bonuses mean relatively less as income rises.

So maybe avoid CSR, but do consider AF travel cards if they make sense.
Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 4 of 13
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Member

Re: Minimum income to get accepted for certain cards?

Yea the CSR was just an example. That card wouldn't really do much for me right now even if I wanted to invest the $450.

Scores: TU 773 - EQ 731 - Ex 755 (12/07/17)
Wallet: Capital one quicksilver One $1,500 - Chase Freedom $1,500 - Chase Freedom Unlimited $1,500 - Chase Amazon Prime $1,500 - Amex BCE $4,500 - Amex Everyday $2,500 - Amex Delta Skymiles $6,000 - Amex PRG - Citi DoubleCash $2,500 - Discover it 5% $5,500 -
Message 5 of 13
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Regular Contributor

Re: Minimum income to get accepted for certain cards?

It's no CSR but I got my Cap One Venture a year ago SL 15k with a reported 30k income. Got a 3k increase three months in and have since combined with another Cap One card for a 26k limit.

BK CH7 Discharged 03/2015
FICO8 EQ-657 TU-657 EX-665
Revolving credit lines 125k.
Message 6 of 13
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Established Contributor

Re: Minimum income to get accepted for certain cards?

While I'm sure income plays a part, I think credit worthiness plays a bigger part. I don't make a ton but I have substantial CL's on my cards. And I feel I'm getting those CL's because I am successfully working on my credit worthiness. Obviously a card with a high AF is not an option, nor would I want it (my PRG has a high enough AF, but my spend makes it worth it, on the other hand my BCP also has a AF and I will PC to the BCE bc that AF is just not worth it to me). Do you have certain cards you are interested in?

Message 7 of 13
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Member

Re: Minimum income to get accepted for certain cards?

Not super intersted in any cards as of right now. My credit history is just a bit over a year old with my first card being a quicksilver one @ 500 limit and I just got approved for a chase freedom @ 1500 limit. I'm not sure that I could use or even get any higher tier cards as of right now but I'm always open to suggestions on what I should look at getting next.

Scores: TU 773 - EQ 731 - Ex 755 (12/07/17)
Wallet: Capital one quicksilver One $1,500 - Chase Freedom $1,500 - Chase Freedom Unlimited $1,500 - Chase Amazon Prime $1,500 - Amex BCE $4,500 - Amex Everyday $2,500 - Amex Delta Skymiles $6,000 - Amex PRG - Citi DoubleCash $2,500 - Discover it 5% $5,500 -
Message 8 of 13
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Established Contributor

Re: Minimum income to get accepted for certain cards?

I personally have an intense love for Discover and Amex. Check out their pre-quals and see if anything pops up Smiley Happy

Message 9 of 13
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Established Contributor

Re: Minimum income to get accepted for certain cards?


@12velectronics wrote:
I'm sure minimum incomes are required for all cards, but no one knows for sure what that is. I will say that if you're making $20K a year, I just simply can't see how a CSR at $450AF can make any sense for you. So a realistic individual will app for cards that are on par with their income.

Love this! One should always evaluate what is best for their income...  For example, I would not have applied for my banks American Express Cash rewards card if I had known one had to have 2,500pts or $2,500 in spend before one can redeem their cash back points which, for me, is insane because I am lucky to spend that much on things in 5 months across all of my cards! Although, it did provide me with my highest credit limit for a while.

AAOA 15 months Fico 08's 714 717 678 11% Utilization
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