Tips for Seniors Looking for the Perfect Credit Card
Reaching your golden years should be a time for enjoying the smart financial decisions you’ve made over the past few decades. Spending more time with family and friends while living within your means is crucial for ensuring a long a happy retirement. Usually, most people begin paying down their credit card debts as they reach retirement so that the burden of former expenses does not eat away at their savings. Still, having a credit card is almost necessary in these times, so we have considered a range of tips that makes shopping for a new line of credit in your golden years as productive and intelligent as possible.
Low Interest Rates
When employed, shopping for a credit card may consist of various considerations: travel perks, rewards points and roadside assistance features are prominently considered by many. Seeing as how the average senior is bringing in less per month than the average worker, however, having a low interest rate is priority number one for any credit card. Most seniors do not carry large amounts of debt on any credit card, but even small amounts can become burdensome if interest charges slowly pile up over months and years.
Easy Access to Account Information
Many seniors do not want the hassle of online account management – or at the very least, want to not be tied solely to using the internet to view their statements. Some credit cards do not offer traditional customer service and statement options anymore, so be sure to evaluate each credit card offering to determine whether or not this is the case. In some cases, access to toll-free numbers and customer service agents may come with a fee; those who wish to have these features as standard offerings with their credit cards would be well-advised to shop around and verify each card’s account options.
Use Comparison Tools
Grabbing the first credit card that seems suitable is not the best course of action. With several credit card comparison tools available on the web, seniors should be evaluating each to see what cards best suit their economic needs. Seniors will be able to input variables such as credit limit, interest rate, credit score requirements and much more. By comparing dozens of cards side-by-side, evaluating each feature – along with the pros and cons – becomes much more thorough and efficient.