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What is the minimum salary required for credit card?

The usage of credit cards in India has increased, and they are in demand. However, a relevant question here is whether anyone can get a credit card, and if not, what are the criteria to get the same. All these criteria differ on a bank-to-bank basis. Each bank has different kinds of eligibility criteria to provide credit cards to their customers. One of such eligibility criteria which banks have set is the minimum salary for a credit card. Usually, banks prefer high-income earners; however, they have established schemes to provide credit cards for low-income earners.

LOW-INCOME CREDIT CARD APPLICATION

Low-income earners are usually people who earn around Rs.8000 to Rs.25000 per month. Keeping in mind that they can't avail credit cards with high credit scores and other advantages, banks came up with many ideas to offer credit cards for low-income earners. For instance, Kotak Mahindra Bank came up with 811 #DreamDifferent credit cards to provide a credit card for low-income earners. This card is against a fixed deposit (also known as a secured card). If you want a low-income credit card, then one of your options is to go for credit cards against fixed deposits. Kotak Mahindra Bank 811 #DreamDifferent credit card is one such secured card with no minimum income requirement. To apply for this, you don't have to attach any documents. Just fill an online form. Further, you can decide your credit limit ranging from Rs. 8000 to Rs.12,00,000. However, 811 #DreamDifferent credit card has a few eligibility criteria, and one of such is your minimum term deposit should be Rs.10,000. Apart from this, various other cards help to provide a credit card for low-income earners. Even though banks give preference to high-income earners, low salaried people have not been left out anymore.

WHAT IS THE MINIMUM SALARY REQUIRED FOR A CREDIT CARD?

As mentioned earlier, every bank sets its minimum income requirement to provide cards. The reason for banks to establish such criteria is to make the credit card bill payment easier. For example, if you earn around Rs. 25 lakhs per annum, you will be considered a high-income earner. If you are a high-income earner, it guarantees the banks that you will make your bill payment at the right time. However, the minimum salary for a credit card differs on a bank-to-bank basis and a card-to-card basis. To make it clear, let's consider two credit cards, Kotak Essentia Platinum Credit Card and Urbane Gold Credit Card from Kotak Bank. The bank provides one reward point for every Rs.100 you spend using the Kotak Essentia Platinum Credit Card and gives 3x reward points for every Rs.100 you spend using the Urbane Gold Credit Card. They are two different cards with two distinct features provided by the same bank. Hence, the eligibility criteria, like the minimum salary for credit cards, will change based on their features and advantages. This criterion guarantees that the customers will pay their bill properly during the credit card bill payment without any dues.

Generally, the minimum salary for credit cards for Kotak Mahindra Bank varies on a card-to-card basis. However, to give a basic idea, the minimum salary for credit cards is Rs. 3 lakhs. Notably, all the changes in the criteria are because of the benefits provided on each credit card. The minimum income requirement for each of Kotak Mahindra Bank's credit cards are as follows:

S. No.	CREDIT CARDS PROVIDED BY KOTAK	MINIMUM SALARY REQUIRED
1.	Zen Signature Credit Card	Rs. 4.8 lakh and above per annum
2.	Mojo Platinum Credit Card	Rs. 4 lakh and above per annum
3.	White Credit Card	Rs. 25 Lakhs and above per annum
4.	Essentia Platinum Credit Card	No minimum income requirement
5.	811 #DreamDifferent Credit Card	No minimum income is required. However, the term deposit should be Rs. 10,000
6.	Delight Platinum Credit Card	No minimum income requirement
7.	Fortune Gold Credit Card	Rs. 3 Lakhs and above per annum
8.	Feast Gold Credit Card	Rs. 3 Lakhs and above per annum
9.	League Platinum Credit Card	Rs. 5 Lakhs and above per annum
10.	Best Price Credit Card	No minimum salary requirement
11.	Royale Signature Credit Card	Rs. 24 Lakhs and above per annum
12.	PVR Kotak Gold Credit Card	No minimum salary requirement
13.	PVR Kotak Platinum Credit Card	No minimum salary requirement
14.	Wealth Management Infinite Credit Card	No minimum salary requirement
15.	NRI Royale Signature Credit Card	No minimum salary is required. However, the minimum fixed deposit should be Rs. 1 lakh.
16.	Urbane Gold Credit Card	Rs. 3 lac and above per annum
17.	Corporate Wealth Signature Credit Card	No minimum salary requirement
18.	Corporate Platinum Credit Card	No minimum salary requirement
19.	Corporate Gold Credit Card	No minimum salary requirement
20.	Privy League Signature Credit Card	No minimum salary requirement

What is the minimum salary required for credit card in India?

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