Credit Cards for Low-Income Earners

In our guide, we’ll explore what counts as a low income and whether you could get a credit card for people with a low income.

Low-income credit card: could I get a credit card if I’m on a low income?

This will depend on the credit card provider’s eligibility criteria. Some providers may have a minimum income requirement that you’ll need to meet before you make an application for a credit card for people on a low income.

Provided you meet the rest of our criteria, you could check your eligibility for a thimbl credit card if you earn a minimum net income of £800 a month.

Credit cards for low-income earners: what’s classed as a low income?

It’s important to note that there isn’t a fixed amount that’s considered ‘low income’. What’s considered a low income will vary between providers.

The first thing you should ask yourself when thinking about applying for a credit card is, ‘Can I afford the repayments?’.
Lenders look at your income as part of their creditworthiness assessment to make sure you can afford your repayments.

What counts as income when applying for a credit card?

Income can include wages from employment. Some providers also include certain benefits, such as Universal Credit, and pension payments.

Why might I have a low income?

You may be on a low income if you are:

• Retired/receiving a pension
• On benefits
• A student over the age of 18
• Unemployed
• Self-employed

You can check your eligibility for a thimbl credit card if any of the above situations apply to you, provided you meet our full criteria. You must:

• Be between the ages of 18 and 75
• Be a UK resident with at least 1 year's UK address history
• Have a minimum monthly net income of £800
• Have an active credit account that has been open for a minimum of 4 months
• Do not already hold a Zable credit card

People with all credit scores can check their eligibility for a thimbl credit card.

thimbl is a credit broker. The thimbl credit card is powered by Zable, a trading name of Lendable Ltd. 
Lendable Ltd is unable to consider applications from anyone who has declared bankruptcy or is in an Individual Voluntary Arrangement (IVA).

Low-income credit cards for bad credit

You could still be considered for a credit card if you have a low income and a history of bad credit.
Certain credit cards, such as credit builder credit cards, could be suitable for people with bad credit. However, it’s important to note that credit cards for bad credit could come with a higher rate of interest and a lower starting credit limit.

The thimbl Credit Builder Credit Card could help those with bad credit build their credit history.
Use the thimbl Credit Builder Credit Card to pay for a necessary purchase. You should make at least the minimum repayment each month and, where possible, aim to make more than the minimum.
Your repayment history will be reported to the credit reference agencies (CRAs). With consistent positive use, you could see an increase in your credit score over time.

What if I can’t afford to make my repayments?

If you’re finding it difficult to make your monthly repayments, you should get in touch with your provider as soon as you can. They’ll be able to talk to you about any options that could be available to help you manage your repayments.

Get free money and debt advice in the UK

You can get free, confidential and impartial money and debt advice from charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.