Credit With a Low Income or on Minimum Wage?


With Vanquis Bank it doesn’t have to mean no credit! Build up your credit rating with Vanquis Bank.*


  • Start with a sensible credit limit from £150 to £1,000.
  • A friendly UK based Call Centre to help manage your account.
  • Member benefits include payment holidays in case of unemployment or illness, and member discounts across UK stores and events.**


*To build your credit rating and be considered for credit limit increases, use your card sensibly, stay within your credit limit and pay your monthly minimum payment on time. Not doing so could harm your credit rating and make obtaining credit more difficult.

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Representative 39.9% APR (variable)

Low Income Credit Cards

When you are on a low income or earn at or near the minimum wage, it can be difficult to access credit to help with life’s emergencies and to spread the cost of large expenses over several months. You need a responsible lender who will lend you only what you can afford to repay, but most lenders just won’t give credit to those with a low income.


Vanquis Bank will consider you for a credit card even if you have a low income


A Vanquis Bank Credit Card can help you to build your credit rating responsibly and at the pace you are comfortable with.* You can access statements and make payments online and get SMS account reminders. Our UK based customer support is ready to help you manage your credit and you benefit from our 24/7 fraud watch service.


Vanquis Bank, a UK credit card lender has provided credit cards to over 3.5 million people (correct as of July 2017), specialises in providing credit to those who cannot get credit elsewhere including people on low incomes or earning the minimum wage. Vanquis realises how important it is to get on the credit ladder and is willing to consider applications from people on low incomes. Responsible use of a Vanquis Visa Card can help people earning low incomes to build a good credit record.*


Low Income or Minimum Wage

The UK minimum wage rate is currently at set according to the age of the worker. The bands, according to as set for April 2017 are:

  • £7.50 per hour for workers aged 25 and over
  • £7.05 per hour for those aged 21 to 24
  • £5.60 per hour for those 18 to 20
  • £4.05 per hour for under 18's
  • £3.50 per hour for apprentices


The Low Pay Commission estimated that some 1.3 million workers, about 5% of all jobs, benefited from higher wages as the result of the introduction of the minimum wage in 1999.


Living on low pay, whether from low wages or part time or irregular work, can be challenging particularly when inflation rates are above increases in wages. As well as meaning living on a tight budget, low pay can restrict access to credit as many lenders may be reluctant to advance credit based on low disposable incomes.


Using a Credit Card with a Low or Minimum Wage

Without access to credit, and a credit card in particular, a person may be unable to shop online, pay a deposit for a purchase or car rental or meet unexpected expenses. These are aspects of life today that many of us take for granted.


Responsible use of a credit card, even on a low income, can help with emergencies or allow larger payments, like the television licence or road tax renewal, to be budgeted across a few months. It can also help with buying at cheaper rates available on the Internet, saving money by accessing better deals.


In addition, it can help build or rebuild a credit history. Using a Credit Card to build credit is one way of preparing for the future even when currently on a low income or minimum wage.*


Building a Credit History on a low income with Vanquis*

Having a low wage should not be a barrier to creating a good credit history. Even those with low earnings can start to build their credit responsibly with a Vanquis Card.


Vanquis aims to provide a manageable credit limit suitable for someone with a low income. By using the card regularly and making at least the minimum payments on time (provided that the overall level of borrowing is kept within a manageable limit), a person can have access to credit and start building a good credit history even if the level of spending is low.


It is also important to create a budget to manage income and expenses responsibly and ensure that payments can be met on time.


** Subject to Payment & Terms and Conditions, please see Existing Customers.