Low Income Credit Cards

Are you looking for a low income credit card in Canada? There are several options on the market, and we’ve put together the best low income credit cards in Canada with little or no income requirements. Check them out!

1. American Express Cobalt Card

Key Card Features

  • No minimum income requirement
  • Earn up to 5x points for every $1 spent.
  • Earn up to 50,000 Membership Rewards points ($500 value).
  • $155.88 Annual fee

The American Express Cobalt® Card is a premium credit card with no minimum income requirement.

Without a doubt, this is one of the best credit cards currently available to Canadians because of its unrivaled rewards program.

If you want the best rewards credit card, this one is the best choice. Among the many perks available to cardholders are comprehensive travel insurance and car rental coverage.

There are several ways to redeem Cobalt’s American Express Membership Rewards, and its earning rates are among the best in Canada. In other words, these rewards are valuable and easy to redeem.

 Click here to apply for the American Express Cobalt Card.

2. Tangerine Money-Back Credit Card

Key Card Features

  • No annual fee
  • $12,000 Minimum income requirement
  • Earn 2% cash-back in any 2 categories of your choice. 0.5% on every other purchase
  • Welcome offer: 15% cash back when you spend up to $1000 in first 2 months. Offer ends January 31, 2022.

The minimum income requirement for Tangerine Money-Back Credit Card is $12,000.

Tangerine cardholders earn 2% cash back on two spending categories of their choice. However, you can choose three spending categories if you have a tangerine bank account. The good news is that you can even change these categories if your spending habits change.

For a limited time, Tangerine Credit Card users can earn 15% cash back if they spend $1,000 or more in the first two months. That’s a $150 cash back offer (this offer ends by 31st January 2022).

The card has no annual fee, so you don’t have to worry about paying a fee to enjoy this card’s benefits.

Click here to apply for the Tangerine Credit Card or read our complete review.

3. MBNA Rewards Platinum Plus Mastercard

Key Card Features

  • $0 Annual fee
  • No Minimum income requirement
  • Earn up to 2 points per $1 spent.
  • Welcome offer: Earn 4 points per $1 spent on grocery, restaurants, membership, and utility purchases in the first three months.

The Rewards Platinum Plus Mastercard also has no minimum income requirement and annual fee. And it offers a great rewards program and signup bonus.

Cardholders can earn 2 points per dollar spent on up to 5 spending categories. And 1 point per dollar spent on every other purchase.

However, new cardholders can enjoy up to 4 points per dollar spent on eligible purchases during the first three months of card ownership.

Also, if you make $500 in eligible purchases within the first three months, you can earn an additional 5000 bonus points ($25 cash value).

Another benefit of this card is that your points will never expire as long as your account remains in good standing,

Click here to apply for the MBNA Rewards Platinum Plus Mastercard or read our complete review.

In conclusion

You might have a great credit score, but card issuers often have minimum household or personal income requirements.

You can avoid this issue by applying instead for low income credit cards.

In addition to the cards described above, it is very important to apply for a credit card that meets your expectations and is within your consumption profile. It doesn’t make sense to have a fancy card with a high annuity if you don’t enjoy the benefits it offers.