Credit card debt is usually something that retirees should avoid. With little to no stable income, you don’t want to be worrying about debt during retirement. However, those who are able to handle credit card responsibly can reap plenty of benefits that include free travel and cash back. This means paying the credit card balance in full every month.
Retirees are just like all other consumers who have regular expenses that can be paid for with a credit card. Depending on the work-free lifestyles of retirees, certain credit cards are more appropriate than others.
Whether it’s travel expenses or day-to-day spending, there are credit cards that will offer rewards on those purchases.
Not into rewards but want a credit card for short-term emergencies? There are fee-friendly credit cards that can come in handy during sticky situations.
Here are our top 5 credit card suggestions for retirees: