Yes, individuals with a salary of Rs. 15,000 per month can be offered credit cards.Individuals with a high income are offered credit cards easily but, on the other hand, individuals with low incomes might be rejected by credit card issuers. Various credit cards are available in the market that are provided to low income individuals. These individuals have an income of less than Rs. 15,000 per month.
Credit card issuers have introduced these cards with benefits and some privileges.
Some of these Credit cards, their joining fee and benefits are given below
Rs.0 |
Rewards |
|
SBI Tata Titanium Credit Card |
Rs.499 |
Shopping |
Rs.499 |
Online Shopping |
|
Rs.499 |
Daily Shopping |
|
HDFC Bharat CashBack Card |
Rs.500 |
Cashback |
Rs.500 |
Rewards |
|
Rs.1,000 |
Rewards and travel |
|
Rs.1,000 |
Premium Lifestyle |
|
HDFC Diners ClubMiles Credit Card |
Rs.1,000 |
Travel |
Applying for a low income credit card
- Visit Creditmantri to apply for credit card
- You can select a credit card depending in your needs
- You can check the eligibility online
- You can then select the credit card and apply for it on the given site
Disadvantages Of Low Income Credit Cards
- These cards have lower credit limits.
- A low income credit card may not provide premium features
- The issuers of these cards may not have tie-ups with the most commonly used brands.
- These cards may not be useful in developing and building credibility.
- These cards have limited scope in terms of usability and acceptability.
Also Read: What Is The CIBIL™ Score Required For Credit Card