Compare Credit Cards
Banks love to pretend credit cards are for rich people. Minimum income requirements of $60,000, $80,000, even $150,000. Meanwhile, the median Canadian income is $41,000. Half the country gets told they’re too poor for decent credit cards. It’s financial discrimination dressed up as risk management.
Here’s the truth. You don’t need a six-figure salary to get a good credit card. Some of the best rewards cards in Canada require as little as $12,000 annual income. Others have no income requirements at all. You just need to know where to look and stop believing the banks’ propaganda about who “deserves” credit.
The People’s Champion: Scotiabank SCENE+ Visa Card
The Scotiabank SCENE+ Visa Card gets it. $12,000 minimum income requirement. That’s basically minimum wage. No annual fee. Ever. Scotia built this for real Canadians, not the mythical high-earners banks usually chase.
You earn 2x Scene+ points at Cineplex theatres, Home Hardware, and grocery stores like Sobeys, Safeway, and Foodland. 1x on everything else. Not mind-blowing rates, but for a card that actually approves low-income applications? It’s revolutionary.
The 5,000-point welcome bonus equals five free movies or $50 off groceries. For someone making $12,000 annually, that’s meaningful money. Not some 100,000-point bonus requiring $10,000 in spending you don’t have.
This card respects that low income doesn’t mean bad credit or financial irresponsibility. It means you’re starting out, rebuilding, or just living in expensive Canada on a normal salary. Novel concept for banks.
The Secret Weapon: American Express (All Cards)
Here’s what nobody tells you. American Express Canada has ZERO income requirements. None. Nada. Not even on their premium cards.
The Amex Cobalt Card? No income requirement. Earns 5x points on all food and drinks. The $12.99 monthly fee is less than one restaurant meal, and you’re earning premium rewards regardless of income.
Amex SimplyCash Card? No income requirement, no annual fee, straight cashback. They’ll approve you based on credit score, not salary.
Even the prestigious Amex Platinum with its $799 annual fee? No stated income requirement. If you can afford the fee and have decent credit, they’ll consider you.
Amex decided income discrimination is bad business. While Visa and Mastercard enforce arbitrary minimums, Amex evaluates actual creditworthiness. Revolutionary.
The $12,000 Club
Several excellent cards only require $12,000 annual income. That’s $1,000 monthly, achievable for students, part-timers, and anyone with a pulse.
Scotiabank Gold American Express Card – Yes, a premium travel card with a $12,000 requirement. 6x points at Empire grocery stores, 5x on dining/entertainment, no foreign transaction fees. The $120 annual fee pays for itself if you buy groceries.
Tangerine Money-Back Credit Card – Pick two categories for 2% cashback, 0.5% elsewhere. No fee, $12,000 income requirement. Tangerine wants your banking relationship, not your trust fund.
Scotia Momentum Visa Card – 2% on groceries and recurring bills, 1% elsewhere. $39 annual fee but $12,000 income requirement. Family spending $500 monthly on groceries covers the fee in two months.
These aren’t charity cards for poor people. They’re legitimate rewards cards that happen to have reasonable requirements.
The No-Income Underground
Some cards technically have no stated income requirements, though banks still check affordability somehow.
PC Financial Mastercard – No income requirement, no annual fee. Earn PC Optimum points at Loblaws stores. They want you shopping, not earning six figures.
Canadian Tire Triangle Mastercard – No specific income requirement. Earn Canadian Tire money everywhere. Not the best rewards, but accessible to almost anyone.
Neo Financial Mastercard – No stated income requirement. 5% back on groceries, 4% on gas. Neo’s disrupting traditional banking, including income discrimination.
These cards evaluate creditworthiness differently. Payment history, banking relationships, spending patterns matter more than raw income.
The Student Loophole
Student credit cards have lower or no income requirements because banks know students are broke. But here’s the secret: “student” is loosely defined.
BMO Student CashBack Mastercard – No income requirement for students. 3% on groceries, 1% elsewhere. Part-time community college counts as “student.”
Scotia Student Visa – Low income requirements, basic rewards. Online courses might qualify you.
TD Cash Back Student Visa – Minimal requirements, decent cashback. “Continuing education” is education.
Banks rarely verify enrollment thoroughly. If you’re taking any courses anywhere, you might qualify for student cards with better terms than regular low-income options.
The Secured Card Safety Net
Can’t qualify for anything? Secured cards approve everyone because you’re borrowing your own money.
Neo Secured Mastercard – $50 minimum deposit becomes your limit. Still earns cashback. Graduate to unsecured after building history.
Capital One Guaranteed Secured – Deposit $75-$300, get that as your limit. Reports to credit bureaus to build score.
Home Trust Secured Visa – $500-$10,000 deposit options. Higher limits for rebuilding credit faster.
Secured cards aren’t shameful. They’re strategic credit building tools. Six months of perfect payments and you qualify for better cards.
Income Calculation Tricks
Banks define “income” broadly. Your salary isn’t your only income.
Included in income:
- Employment income (obvious)
- Self-employment/freelance income
- Investment returns
- Pension payments (CPP, OAS)
- Government benefits (CCB, GST credits)
- Child support/alimony
- Rental income
- Scholarships/bursaries
- EI benefits
Add it all up. That $12,000 requirement suddenly looks achievable.
Household income includes everyone in your home. Live with parents? Their income counts. Roommates sharing expenses? Might count. Spouse/partner? Definitely counts.
Banks rarely verify thoroughly. They check credit bureaus and banking history more than calling employers.
The Approval Strategy
Low income doesn’t mean automatic rejection if you play it smart.
Build banking relationships first. Banks approve existing customers easier. Open a checking account, use it for three months, then apply for their credit card.
Apply for the right tier. Don’t apply for World Elite cards requiring $80,000 income if you make $30,000. Start with basic cards, upgrade later.
Time applications strategically. Just got a raise? Wait for two pay stubs showing higher income. Seasonal worker? Apply during peak earning season.
Use pre-approval tools. Many banks offer pre-qualification checks that don’t affect credit scores. Know your odds before applying.
Consider co-signers or joint applications. Adding someone with higher income improves approval odds. Just ensure you trust them completely.
The Hidden Costs of “Premium” Requirements
Cards with high income requirements aren’t necessarily better. They’re just more exclusive.
World Elite Mastercard requiring $80,000 income might earn 3% on groceries. The BMO CashBack Mastercard with no income requirement also earns 3% on groceries. Exact same reward, different exclusivity level.
Visa Infinite requiring $60,000 income offers lounge access. The Tangerine World Mastercard with $12,000 requirement offers discounted lounge access. Marginal difference, massive requirement gap.
Banks use income requirements to create false prestige. Don’t fall for it. Judge cards by their actual benefits relative to fees, not their exclusivity level.
Building Beyond Low Income
Low income is usually temporary. Use it strategically.
Year 1: Get any card that approves you. Secured if necessary. Build payment history.
Year 2: Add a second card with better rewards. Two credit lines improve credit mix.
Year 3: Credit score improved? Apply for better cards even if income hasn’t increased much.
Year 4+: Established credit history matters more than income for many banks.
Credit history compounds. Start building now, regardless of income. When income increases, you’ll have the credit score to qualify for premium cards immediately.
The International Student Advantage
International students face unique challenges but have hidden advantages.
Many banks offer newcomer programs with no Canadian income requirements. TD, RBC, Scotia all have newcomer packages approving cards based on foreign income or study permits alone.
These aren’t student cards. They’re regular rewards cards accessed through newcomer programs. Same rewards, easier approval.
The Gig Economy Reality
Traditional income requirements assume traditional employment. Gig workers need different strategies.
Show consistent deposits. Banks care more about regular income than employment type. Three months of consistent Uber deposits counts.
Bank where you deposit. The bank seeing your income is more likely to approve you.
Document everything. Keep records of all income sources. Banks might ask for proof, especially for self-employment.
Apply during peak earning periods. Delivered food during December rush? That’s your income for applications.
Making the Decision
The best low income credit card isn’t about settling for scraps. It’s about finding value regardless of arbitrary requirements.
Under $12,000 income? American Express cards with no requirements or secured cards for building credit.
Exactly $12,000? Scotiabank SCENE+ Visa or Tangerine Money-Back Card for no-fee rewards.
$12,000-$15,000? Scotiabank Gold Amex for premium rewards at low requirements.
Student at any income? Student versions of major banks’ cards for easier approval.
No documented income? Secured cards or PC Financial Mastercard with no stated requirements.
Your income doesn’t define your creditworthiness. Payment history, financial responsibility, and smart card selection matter more than salary.
Banks want you to believe low income means bad customer. Prove them wrong. Get the card, use it responsibly, earn rewards, build credit. When your income rises, you’ll already have the credit history that actually matters.
The best low income credit card is the one that approves you today and helps build toward tomorrow. Your salary might be low, but your financial future doesn’t have to be.
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