Those who have retired may still have need of a credit card. While some may continue to have open credit card accounts for which they qualified while still being employed, others may not or may find themselves in need of a new card. Fortunately, many seniors can still qualify for a new card by using their Social Security income and any distributions they receive from their retirement funds.
There are a number of different credit cards aimed at retired individuals with easier qualification criteria. The American Association of Retired Persons (AARP) offers a credit card through Chase. This card offers a number of rewards on purchases and has no annual fee, making it a good option for those on a fixed budget.
The Amtrak Guest Rewards card from MasterCard is another option seniors may find fits their lifestyle very well. Those who travel by Amtrak can quickly gain points that provide them with discounts, free upgrades, and other perks. The downside to this card is that it does have an annual fee, making it impractical for seniors who do not use the service regularly.
A third option is the City Simplicity card. This card is aimed at those who do not want to worry about their credit card or deal with complex terms. This card has no penalty fees or interest rate adjustments for late payments, plus there is no annual fee.
These three cards and others may provide retirees with the credit options they require to live their retirement to its fullest.
If you want more credit, check out MoneyTips’ list of credit card offers.