Credit Card Minimum Credit Limit to Minimum Income Correlation Value?

Is there a rough correlation value between the minimum credit limit and the minimum income for credit cards?

E.g. if a cad has
-min credit limit $15,000 - does that imply min income should be ~$125,000
-or min credit limit $6,000 - min income ~$75,000

Any ideas on the rough correlation values?

Essentially, I'm trying to figure out if I get a credit card with a $15,000 minimum credit limit whether I would still be eligible to sign up for another credit card with $6,000 minimum credit limit for the bonus points.


  • +1

    You could always sign up for a $15k card and ask them to drop the limit. I did that with Citibank, just tell them you need to do so to get a home loan through. They won't refused. With the current credit climate it is more difficult to increase the limit as you need to prove you can afford it.

    • is this doable when the stated min credit limit is $15k? interesting.. coz normal bank process is about offering you a lesser product that comes with a lower min limit.

  • +2

    I got a 10k card with a 55k income

    • amex is very generous with limit

      • Commbank mastercard low fee

  • +1

    It depends on other financial commitments you have to calculate your debt serviceability, so no one size fits all answer

  • Not really. I was offered an increase in my limit to 8k while I was working part-time making under 20k.

  • I decreased a card from 15000 to 8500 so I can hopefully get approved for balance transfer, I had many balance transfers refused I feel my $90k salary to the $15k credit limit was to low (credit score was 800, now 650 due to credit enquries…..)

    15k was through ST GEORGE by the way, they approved it with ease, too bad they don't do internal balance transfers…

  • Theoretically….

    Your net income minus living expenses minus any liability payment (mortgage, credit card limit exisiting limits *3.8%). If the result is positive, you should be approved for the new card. Again theoretically, approval will also be dependent on other factors eg employment, income requirement etc

    15k + 6k = 21k*3.8% = $798 monthly repayment on credit card

    Personally i won’t suggest applying for 2 cards at once though

  • If you must, just get a $2k limit and pay off the day you make purchases

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