Many older adults are living on a mixture of retirement funds, Social Security, perhaps freelancing or gig income, and benefits from the EBT card for seniors. Picking the best credit card for senior citizens involves identifying the best card for your lifestyle.
This is the time in life when every choice you make can be for stress-free living. Personal priorities may include features such as cash back, travel rewards, low or no annual fees, or dining, grocery points.
Yet, we all know it can be stressful and dizzying trying to sort through all the offers, marketing, and fine print. To simplify the task, we’ve done the work for you.
Here is Senior Assistance Club’s list of the 7 best credit cards for senior citizens with features we think you’ll love: cash back, low fees, no annual fees, low interest rates, and great rewards.
The AARP card was specifically designed to match a senior lifestyle. There are many AARP benefits that you can take advantage of. If you like going out to dinner, you’ll get 1% back every time. Same 1% back for groceries. You also get 3% cash back on gas. This card also has no annual fee.
Love going grocery shopping? The Blue Cash Preferred card offers the highest of any card on the market, 6% back on up to $6000 in supermarket purchases. Many seniors prefer to shop in supermarkets and stores, making this extremely attractive way to shop, budget, track and save.
This card also offers 3% back on fuel purchases. If you’re driving a lot, this adds up. An additional perk is this card comes with $250 cash-back offer when spending $1000 within the first three months.
Compare Top Credit Cards
As the name indicates, the Double Cash card provides 1% cash back when you make a purchase and another 1% when you pay. There is no annual fee. There is also no specific category limits. This is a credit card seniors might use for anything under the sun with the benefit of getting cash back from these purchases.
This Chase Sapphire Preferred card can save you from headaches of different reward programs and confusing point redemption methods. This card allows users to earn and transfer points to a number of loyalty programs. This includes 1-1 ratio for airline and hotel travel partners such as United Mileage Plus and IHG Rewards club.
This card includes 60,000 bonus points after you spend $4000 on purchases in the first 3 months of opening your account. Current benefits include 2X points on travel and dining and more.
The Freedom Unlimited card offers the simplicity of receiving 1.5% cash back on everything purchased. There is no annual fee, no minimum for claiming cash-back rewards, and a sign-up bonus of up to $200 when you spend $500 in the first three months.
While the rewards may not match some other credit cards for senior citizens, this one wins for simplicity.
This card comes with no annual fee and a very low interest rate, 9.75 variable APR. It also offers a 0% introductory APR on balance transfers for 12 months. While it is not great for scoring reward points, these features make it useful as a basic card for ongoing purchases.
The Simmons Visa credit card was named the best low interest credit card of 2020 by CardRatings.com.
If you’re in retirement and have poor credit, you can still look to Credit One Bank Unsecured Visa to rebuild credit. Depending on personal credit history, this card offers a credit line between $300 and $3000. This can be an excellent way to improve and build your credit, while earning 1% cash back and having free online access to a monthly credit score.
When looking for the best credit cards, consider your lifestyle. Some of the best credit cards for seniors feature offers such as cash back, travel rewards, 0% intro APR, low ongoing APR and no annual fees.
Choosing the best card for you will help you make the most out of your lifestyle, purchases, and financial situation.