Once people stop working, they may not think they need all their credit cards. What makes sense for today’s retirees?
According to The Ascent, there are good reasons why credit cards are still useful. Banks and card issuers actively compete for credit card customers, and they’re offering more benefits and often more favorable interest rates.
It can be worth it keeping or even getting a card that rewards you for everyday purchases like gas and groceries. Getting extra cash back can be handy for paying bills or enjoying leisure activities.
Another type of card worth considering is one providing travel rewards such as hotel points or airline miles. With more time available for travel, you can rack up considerable savings with these rewards.
If you have a basic credit card you’ve kept for a long time, hang onto it. Having a card for decades helps boost your credit history. This information factors into calculating credit scores. You never know when you might need to borrow money or decide to get an additional card.
We Know Extra Cash Can Be a Blessing
Here at Council of Seniors, our team is pushing Congress to pass The SAVE Benefits Act. We know how critical it is to make up for the annual Social Security cost of living adjustment (COLA) not received in some recent years. If we succeed, seniors will be reimbursed $581 that wasn’t included in those inadequate COLAs.
Signing our petition today will show greedy politicians they can no longer ignore this issue
Are you taking advantage of credit card perks? Leave us a comment and let us know.