Best Credit Cards for Individuals with an Income below Rs.50,000

Your income is one of the most important factors that banks consider before they provide credit cards. Applications can be rejected if your credit score is low or your income is less.

Banks provide credit cards with different minimum income criteria. Credit cards come with basic features if your income is low. However, in case your income is high, premium credit cards are offered. Credit cards of offered with an income ranging between below Rs.25,000 and above Rs.1 lakh. Given below are some of the best credit cards to opt for in case your income is less than Rs.50,000:

• ICICI Bank Coral Credit Card
• HDFC Bank MoneyBack Credit Card
• HDFC Bank Easy EMI Card
• SBI PRIME Card
• Axis Bank ACE Credit Card
• Axis Bank Flipkart Credit Card

1. ICICI Bank Coral Credit Card

   The main features and benefits of the credit card are mentioned below:

   • The joining fee is Rs.500 plus GST.
   • The annual fee from the second year is waived off in case you have spent at least Rs.1.50 lakh in the previous year.
   • Various dining offers are provided.
   • In case you spend Rs.5,000 or more in a calendar quarter, airport lounge access (1) is provided.
   • One domestic railway lounge visit is provided every quarter at no additional charges.

2. HDFC MoneyBack Credit Card

   The main features and benefits of the HDFC MoneyBack Credit Card are mentioned below:

   • Salaried employees must be between the ages of 21 years and 60 years to apply for the card.
   • Self-employed individuals must be between the ages of 21 years and 65 years to apply for the card.
   • Your gross monthly income must be at least Rs.25,000.
   • The joining and renewal fees are Rs.500.
   • 500 cash points are provided as a welcome benefit.
   • Rs.500 worth of guest vouches will be provided if you spend Rs.50,000 in a calendar quarter.
   • 1% fuel surcharge will be waived at all fuel stations across the country.
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3. HDFC Easy EMI Credit Card

   The main features and benefits of the credit card are mentioned below:

   • Salaried employees must be between the ages of 21 years and 60 years to apply for the card.
   • Self-employed individuals must be between the ages of 21 years and 65 years to apply for the card.
   • Your gross monthly income must be at least Rs.10,000.
   • The joining and renewal fees are Rs.500.
   • 1% fuel surcharge will be waived at all fuel stations across the country.
   • 500 cash points are provided as a welcome benefit.
   • The interest-free credit period may be up to 50 days.

4. SBI Card Prime

   The main benefits and features of the SBI Card Prime are mentioned below:

   • The annual fee is Rs.2,999 plus GST.
   • The renewal fee is Rs.2,999 plus GST.
   • No add-on fee is levied.
   • The card is accepted all over the world.
   • Balance transfer option is provided.
   • Cash access is provided all over the world.

5. Axis ACE Credit Card

   The main features of the credit card are mentioned below:

   • Individuals between the ages of 18 years and 70 years can apply for a credit card.
   • Only Indian residents can apply for the card.
   • The joining fee is Rs.499. However, no joining fee is levied until 30 April 2021.
   • The renewal fee is Rs.499. However, no renewal fee will be levied if you spend Rs.2 lakh in a year.
   • 1% fuel surcharge will be waived at all fuel stations across the country.
   • 4 complimentary lounge visits are provided in a year.
   • Purchases of Rs.2,500 or more can be converted into EMIs.

6. Flipkart Axis Bank Credit Card

   The main features of the credit card are mentioned below:

   • Individuals between the ages of 18 years and 70 years can apply for a credit card.
   • Only Indian residents can apply for the card.
   • The joining fee is Rs.500. However, no joining fee is levied until 30 April 2021.
   • The renewal fee is Rs.500. However, no renewal fee will be levied if you spend Rs.2 lakh in a year.
   • 4 complimentary lounge visits are provided in a year.
   • 1% fuel surcharge will be waived at all fuel stations across the country.
   • Purchases of Rs.2,500 or more can be converted into EMIs.

It is vital that you compare different credit cards before you opt for one. The features of the credit card may vary from bank to bank. There are various third-party websites where different credit cards can be compared. This is can you choose the best credit card as per your requirements.