The 6 best credit cards for low-income earners (2024)

While income is an important factor that goes into a credit card application, having a lower income won't exclude you from opening a credit card by itself. Rather, if you have a low income, your credit limit may be lower. And you'll still need a goodorexcellent credit score to be eligible for the top rewards credit cards.

CNBC Select has the details on the best credit cards for low-income earners, including cards issued by a variety of banks and cards available to consumers with mixed credit scores. Plus, all of the cards mentioned in this roundup have no annual fee, so you won't have to worry about spending enough to make the card worth it. (See our methodology for more information on how we made this list.)

Who's this for? The Chase Freedom Unlimited® is great for anyone who likes simplicity. It provides cardholders a potentially lucrative welcome offer and the ability to earn a minimum of 1.5% cash back ( 3% on all other purchases, on up to $20,000 spent in the first year; then an unlimited 1.5% cash back on all other purchases) on every purchase without having to activate bonus categories each quarter.

Standout benefits: Cardholders enjoy discounts with partners like Lyft and Instacart, as well as an introductory0% APRfor purchases andbalance transfersfor the first 15 months (then a variable 20.49%-29.24% applies; a balance transfer fee of the greater of 3% of the amount transferred or $5 applies to transfers made within the first 60 days of account opening).

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Who's this for? The Wells Fargo Active Cash®Card is worth considering for anyone who wants to maximize their cash rewards earnings without paying an annual fee.

Standout benefits: The Wells Fargo Active Cash Card earns a straightforward unlimited 2% cash rewards on purchases. There are no bonus categories to keep track of and there is no limit to the amount of cash back you can earn. This makes it one of the best options for earning cash back on everyday purchases.

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Who's this for? The Citi Simplicity® Card can help anyone with credit card debt save on interest with its generous 0% intro APR offer.

Standout benefits: The Citi Simplicity Card is one of the best options for transferring a credit card balance. Cardholders get a 0% intro APR for 21 months for eligible balance transfers and a 0% intro APR on purchases for 12 months. After the intro APR expires, a 19.24% -29.99% variable APR applies. To qualify for the intro APR, balance transfers must be completed within the first four months of account opening. An intro balance transfer fee of 3% of the amount transferred ($5 minimum) applies, and after that, the balance transfer fee is 5% of the amount you transfer ($5 minimum).

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Who's this for? The Discover it® Secured Credit Card is an excellent secured credit card to consider if your credit report has a few blemishes and your credit score is low.

Standout benefits: Discover matches the cash back you earn for the first year, no matter howmuch (or how little)you spend. Plus, the card offers the ability to transition to an unsecured card starting seven months from account opening.

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Who's this for? The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is worth considering if you have no credit history, including those without asocial security number, and are having difficulty getting approved for other credit cards. Eligibility is based on factors beyond just a credit score, such as bank statements and earnings.

Standout benefits: In addition to helping you build credit, the Petal 2 card earns 1% cash back on all purchases, and you can earn up to 1.5% back on all purchases after making 12 on-time monthly payments.

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Who's this for? The Discover it® Student Cash Back is geared toward college students who want to begin earning rewards and building credit early.

Standout benefits: The Discover it Student Cash Back card comes with the same welcome offer available with many of the best Discover cards, in which Discover will match all of the rewards you earn in the first year. The card also charges no foreign transaction fees.

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The Chase Freedom Unlimited® has a generous intro offer that is useful for low-spenders because there is no spending requirement to meet. The card also offers a higher-than-normal return for everyday purchases that fall outside of a bonus spending category, such as groceries.

Rewards

On up to $20,000 spent in the first year:

• 6.5% cash back on travel purchased through Chase Ultimate Rewards®
• 4.5% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service)
• 3% on all other purchases

After your first year or $20,000 spent:

• 5% back on travel purchased through Chase Ultimate Rewards®
• 5% back on Lyft rides (through March 2025)
• 3% back at drugstores
• 3% back on dining at restaurants (including takeout and eligible delivery services)
• 1.5% on all other purchases.

Welcome bonus

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

Annual fee

$0

Notable benefits

Chase Freedom Unlimited cardholders receive a 0% intro APR for 15 months from account opening on purchases and eligible balance transfers, afterward a variable 20.49%-29.24% applies. The intro balance transfer fee is 3% of the amount you transfer ($5 minimum) for transfers you make within 60 days of account opening, after that the balance transfer fee increases to 5% of the the amount you transfer ($5 minimum).

Eligible purchases you make with this card qualify for purchase protection, extended warranty protection, roadside dispatch, rental car insurance (secondary) and trip cancellation/interruption insurance.

Cardholders also get three free months of DoorDash DashPass, which unlocks $0 delivery fees and reduced service fees (activate by Dec. 31, 2024). Once the free membership ends, you're automatically enrolled in DashPass with a 50% discount for the next nine months.

For those who prefer to have their groceries delivered, Chase Freedom Unlimited cardholders get three free months of Instacart+ (enroll by July 31, 2024) and up to $10 in quarterly Instacart credit through July 31, 2024.

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It doesn't get much simpler or more rewarding than the Wells Fargo Active Cash®Card, which has no annual fee and earns unlimited 2% cash rewards on purchases.

Rewards

• 2% cash rewards on purchases

Welcome bonus

Earn a $200 cash rewards bonus after spending $500 on purchases in the first three months from account opening.

Annual fee

$0

Notable benefits

Cardmembers receive an intro 0% APR for the first 15 months on purchases and balance transfers made in the first 120 days from account opening. After that, a variable APR of 20.24%,25.24%or29.99% applies. An intro balance transfer fee of 3% ($5 minimum) of the amount transferred applies to balance transfers made in the first 120 days, after that a balance transfer fee of 5% of the amount transferred applies ($5 minimum).

This card also comes with cell phone protection. Cardholders can be reimbursed up to $600 per claim ($25 deductible) and up to two claims per 12 months. To qualify for the coverage, you'll need to pay your monthly cell phone bill with this card.

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The Citi Simplicity® Card is one of the top cards to open if you want to expedite your credit card debt payoff thanks to its intro 0%-APR offer and lower intro fee for balance transfers.

Rewards

None

Welcome bonus

None

Annual fee

$0

Notable benefits

The card's biggest benefit is its intro APR and balance transfer fee offers. And, as aCiti credit card, cardholders have access to exclusive events and experiences throughCiti Entertainment.

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The Discover it® Secured Credit Card is a top pick for those with bad credit (credit scores of 580 or lower). It earns rewards and offers a a clear path to upgrading to an unsecured credit card. It requires an opening deposit of at least $200 and you can secure a higher credit limit if you make a larger deposit.

Rewards

• 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter
• 1% cash back on all other purchases

Welcome bonus

Discover will match the cash back you've earned at the end of your first year.

Annual fee

$0

Notable benefits

Cardholders enjoy a cash-back program and no foreign transaction fees. Starting seven months from account opening, Discover will automatically review your credit card account to see if you can transition to an unsecured line of credit and return your deposit.

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The Petal® 2 "Cash Back, No Fees" Visa® Credit Card, issued by WebBank, takes a unique approach to the credit card application process, judging creditworthiness on factors beyond just credit history. It also stands out for not charging many fees associated with other cards.

Rewards

• 1% cash back on eligible purchases right away, which can increase up to 1.5% cash back after you make 12 on-time monthly payments
• 2% to 10% cash back at select merchants

Welcome bonus

None

Annual fee

$0

Notable benefits

One of the biggest benefits of this card is its lack of fees. You'll pay no annual fee, no foreign transaction fee, no late payment fee and no returned payment fee. Unlike many other credit-builder cards, it also doesn't require a security deposit.

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The Discover it® Student Cash Back is an easy-to-get card that gives students a chance to earn generous rewards and start building credit while they're still in college.

Rewards

• 5% back on up to $1,500 in purchases in rotating bonus categories each quarter (then 1%, activation required)
• 1% back on all other purchases

Welcome bonus

Discover will match all cash back you earn for the first year.

Annual fee

$0

Notable benefits

The Discover it® Student Cash Back card has no foreign transaction fees, which can save you money when studying abroad or traveling internationally. Cardholders also receive an introductory 0% APR on new purchases for the first six months(then, 18.24% - 27.24% variable APR). This is a helpful way to finance the purchase of books, a laptop or other school supplies. Just remember that the 0%-APR is only valid for six months, so you'll want a plan to be able to pay it back before you start paying interest.

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To determine which credit cards are best for low-income earners,CNBC Selectanalyzed the most popular credit cards available to U.S. consumers. We compared each card on a range of features, including the annual fee, rewards, welcome bonus spending requirements, introductory and standard APR and foreign transaction fees. We also considered additional perks and how easy it is to redeem points.

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For rates and fees of the Discover it® Secured Credit Card, click here.

For rates and fees of the Discover it® Student Cash Back, click here.