Each credit card issuer will come with its own minimum income requirements dictating a minimum annual income you need to qualify for its highest tier cards.
As mentioned earlier, basic credit card income requirements are around $30,000-$40,000p.a. A high-income credit card may require the cardholder have an income of $80,000 or more, with the most premium options with income requirements ranging in the hundreds of thousands.
Some high-income credit cards may be so prestigious, they're only available via invitation. For example, the rumour is that to be eligible for a Black American Express card, you need an annual income of at least $250,000(USD), with some reports claiming it's into the millions. You can request consideration for this card, but cardholders are often given invitations to sign up.
One of the best places to start to find out if you may qualify for a high-income credit card is to look at its product disclosure statement and terms and conditions online. There you’ll not only find a breakdown of the income needed to apply, but also view the interest rates and ongoing fees charged. This can help you to compare your card options more carefully.
You’ll want to ensure you’re as prepared as possible around meeting the credit card eligibility criteria before applying, as being rejected for a credit card will impact your credit score.
If your income alone does not meet the high-income credit card’s requirement, you may want to consider bringing someone else on to the application. Keep in mind that mixing money with relationships (spouse, family or friends) can lead to financial stress. Both of your credit history’s will be reviewed upon the card application. You’ll both be responsible for meeting minimum repayments on time and ensuring you keep your debt levels down.