In Singapore, low-income earners can still access credit cards, though options might be limited. While the Monetary Authority of Singapore (MAS) sets an annual income requirement of at least S$30,000 for most cards, there are low-income credit cards available.

These might include those with a lower credit limit or secured credit cards. However, before you apply for a new credit card, it's crucial to consider your debt-to-income ratio and ensure you can manage repayments. It’s also important to remember to update your income information with the bank as it changes, which could increase your chances of being approved for a better credit card, even as a low-income earner.

If you’re a low-income earner, a fresh graduate, or a student, here are some things to consider before getting a credit card:

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For people with low incomes, avoiding unnecessary expenses like annual fees is crucial. Luckily, in Singapore, most credit cards offer no annual fee for the first year or two of usage, and sometimes these fees can be waived. However, this is not always guaranteed, so it's still best to get a no-annual-fee card.

A no-annual-fee card is also easier to use for a long time, which can help bolster your credit history since the average age of your accounts is one of the factors that determine your credit score. Plus, a longer credit history also demonstrates responsible credit management, which can improve your creditworthiness over time. This makes a no-annual-fee card some of the best options for low-income earners looking to build their credit.

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Maximise your savings effortlessly with the FRANK Credit Card. Earn a solid 8% cashback on all your local online and overseas purchases, with an additional 2% when you choose eco-friendly merchants like Scoop Wholefoods. Plus, enjoy 8% cashback on in-store purchases using mobile wallets, and another 2% for green transport options like SimplyGo. To unlock up to S$100 in monthly cashback, simply spend S$800 via these methods. With no annual fees for two years, it's a straightforward way to boost your savings.

>> MORE: Cashback credit cards Singapore 2025

Low barriers and low to no income requirements

For low-income earners in Singapore, navigating credit card applications also requires careful attention to income requirements. Each application impacts your credit history, so it's wise to be selective. Prioritise cards that explicitly state "no minimum annual income" or have very low income thresholds. This ensures accessibility without unnecessary rejections.

Begin by reviewing the income criteria on bank websites. Many banks offer cards tailored to a wider range of financial backgrounds. When in doubt, contact the bank directly to confirm income requirements and understand any related conditions.

>> MORE: How to check my credit card application status?

While the DBS Live Fresh Card typically requires a minimum income, it offers substantial cashback benefits that may outweigh the income criteria for some. Earn up to 6% cashback on shopping and transport, plus unlimited 0.3% cashback on all other spending. With 1-for-1 deals and 0% interest instalment plans, it's a card worth considering, even with its income requirements, for those seeking significant rewards on everyday expenses.

If you want to get a credit card, MAS mandates that you meet at least one of three conditions:

1. Annual income of at least S$30,000

2. Total net personal assets of at least S$2M

3. Total net financial assets of at least S$1M

In Singapore, income for credit card applications may include your salary, allowances, or other regular income as long as you can show proof via payslips, tax notices, or CPF statements. Since 2007, the MAS has eased restrictions, allowing banks to issue cards with a S$500 credit cap and no minimum income requirement. These are good options for those with low incomes looking to apply for credit cards or those who simply want a credit card with a low income requirement.

However, it’s no big surprise that the benefits and perks offered by these credit cards for people with low incomes are somewhat underwhelming. After all, these were never meant to replace “proper” credit cards; they merely provide the convenience of cashless payments to those who would otherwise not have it.

If you’re still eyeing a “proper” credit card but don’t meet the income requirement, an alternative is to consider a secured credit card instead. These basically carry the same fees and benefits as a regular credit card but require you to put S$10,000 in a fixed deposit (which also serves as the credit limit).

HSBC, DBS, UOB, and CIMB all offer secured versions of popular credit cards like the DBS Altitude and UOB PRVI Miles for you to consider.