Do I need to earn at least $30,000 annually to apply for a credit card?

Hi Farid,

That's true, most regular credit cards have a minimum annual income requirement of $30k/year. However, this doesn't mean that you cant get a credit card at all. There are other credit cards that have a lower income requirement, and while they tend to cater to students, non-students can apply for them also. I believe CIMB AWSM is an example of this, but note that the credit limit is only $500. Alternatively, you can also choose to apply for a secured credit card. This means you need to apply for a FD with the bank, then the bank will use your FD amount to dictate your credit limit.

To fully utilise a credit card, you should try to look for cards that fit into your lifestyle - giving you the highest rewards/cashback for expenses that you're already making.

Hope this helps!

Regards,

thefrugalstudent