Credit cards can be valuable for managing your finances and building a credit score. Still, typically they come with high fees and interest rates that make them inaccessible for low- income earners. But there are credit cards for low-income earners available. In this blog, we will talk about the features of credit cards for low income and whether you should have one.
A low-income credit card is designed for people with a monthly income of below INR 25,000. As a result, such cards offer a lower spending limit than other credit cards.
SBi offers a special credit card service that fits students and the elderly alike. It provides plenty of discounts on outlets and petrol pumps, which is more likely preferred for people with a low income.
HDFC has been one of the top-performing banks in India. It has various services for low-income customers, including credit cards and personal loans. The Moneyback credit card for low income earner lets them use the cashback points as payments towards their current bill.
If you’re looking for a credit card for low income earners India, then Fi can provide you with the ideal service. It’s a fully insured card with plenty of cashbacks and discounts, focusing on millenials trying to get their finances in order.
Customers with low income need not get discouraged when trying to obtain a credit card to fulfill their financial needs. We hope this guide gave you plenty of insight into how to get a credit card for low income earners. If you’re one of those, don’t forget to check out Fi credit cards for the best dicsounts and a guaranteed 5% on all transactions.
To get a low-income credit card, you may examine the bank’s other services and plans that assist low-income groups. You may need to provide proof of income or employment proof, such as a salary slip and meet specific credit score requirements.
Fi 5% Credit Card is ideal for individuals who earn less than INR 25,000 per month, as it allows airport lounge access, low forex fee, instant credit card issuance, customised reminders, spend insights and more.