# Should seniors have a credit card?



## Tara (Apr 3, 2022)

I am a 75 yr old woman.   I recently moved into. a retirement community.   It is  a nonprofit .  So they will keep you  even after your money is gone.you have to pay. A lot into it.    I had to sell  my house and. I get some  money from my. Dead brother's 401k. Account.    I get. a small.  Social security check.       The. Money is. Going. down now.  
Would it make any sense to. get. a. Credit. Card?     I do not have any. Credit now.    Not for many years.  I do not. Even know. If. It is allowed .


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## Alligatorob (Apr 3, 2022)

Tara said:


> I do not. Even know. If. It is allowed


I am sure it is allowed, the question is do you need it?  

If you have gotten along so far without one why do it now?


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## mrstime (Apr 3, 2022)

I'm 82 and have 2 credit cards. I also pay them off when the bills come. DH likes to buy stuff from Amazon, the other is a walmart card.


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## Lavinia (Apr 3, 2022)

If you shop on the internet, you need a credit card whatever your age. It is more secure than using a bank card.


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## Lara (Apr 3, 2022)

Tara said:


> ...I had to sell  my house and. I get some  money from my. Dead brother's 401k. Account.
> ...I get. a small.  Social security check. The. Money is. Going. down now.



When you're really in a bind, start with 211.org, a confidential service offered through United Way that’ll help you find the resources you need to find affordable housing, make rent, pay utilities, etc. It’s there for you.

To use the service, head to 211.org and enter your location. It’ll show you services in your community and give you a number to call. It’s a clearinghouse for help with food, housing, utilities, employment, etc.

Some can also look into applying for a grant. Take, for example, Modest Needs grants, which are designed for workers just about the poverty line who are ineligible for most other forms of social assistance.

https://www.thepennyhoarder.com/sav...-these-resources-will-help-nearly-everyone-2/


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## Aunt Bea (Apr 4, 2022)

IMO if you are able to use a credit card responsibly you should have one.

A credit card would become an essential tool for me to shop online for everyday items if I lost my ability to drive.

If you have a strong support network to shop for you it may not be an issue, but I don't have that luxury.

Good luck with your decision.


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## JustBonee (Apr 4, 2022)

Having a credit card or two helps keep your credit score higher.   You may not care about that,  but it's good for your overall credit history if that is ever needed for a major purchase.

I have two credit  cards,   and  pay them  in full each month.   
I put everything I buy on them.  Never use cash  ....   and always keep a log of running expenses.


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## Pappy (Apr 4, 2022)

Of course, if they are used correctly. We pay 99% of our bills with a cash back card and always pay the total off each month. Use it to your advantage.


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## Della (Apr 4, 2022)

We use our bank cards for everything and I recently noticed somebody across the country was buying muscle builder and other manly products with my card number.  We closed that card and opened a new one for me which I was careful to never use online.  

Then I got a bill from Express Scripts showing they had billed my meds to the new card even though I hadn't given them my number -- the bank had given it to them.

I've never had a credit card and don't want one now although I know I could use that bank card as a credit card anytime I wanted to.  Darn crooks make life so complicated.


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## timoc (Apr 4, 2022)

Should seniors have. A credit card?​
*How else *would they get through their front door if they lost their keys..............think about it?


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## jimintoronto (Apr 4, 2022)

The big difference between a credit card and a debit card  is.......With a debit card, you can ONLY spend the money that you have IN your bank account. That means that you can't overspend. Because you are spending money that you already have, you are not going to be charged interest on items that you pay for using the debit card. A debit card is just as acceptable as a credit card at retail locations. I use my computer to do all of my banking transactions. I have  not been inside my bank branch in at least 3 years. My Government pensions and my investment cheques all arrive by electronic transfer, direct to my bank account on a monthly basis. I can transfer funds from my bank account to any one , or any business anywhere in the world using my home computer. It takes about one minute to get it done at no cost to me. I don't carry any cash at all just my debit card  . My CIBC debit card works anywhere in the world at a ATM that is on the Interact system. JimB.


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## C50 (Apr 4, 2022)

A credit card is simply a tool.  Use it correctly and it's great, use it recklessly and it will hurt you.  

Do you need one?  If you can use it to your advantage yes.


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## StarSong (Apr 4, 2022)

Lara said:


> When you're really in a bind, start with 211.org, a confidential service offered through United Way that’ll help you find the resources you need to find affordable housing, make rent, pay utilities, etc. It’s there for you.
> 
> To use the service, head to 211.org and enter your location. It’ll show you services in your community and give you a number to call. It’s a clearinghouse for help with food, housing, utilities and employment.
> 
> ...


How kind you are to take time to post this information, Lara.  
I hope it helps the OP.


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## Lara (Apr 4, 2022)

Thank you StarSong. I've noticed how supportive you are of the SF members and it's really nice to see. 
I also hope @Tara will check back in here today to get some helpful ideas.


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## Don M. (Apr 4, 2022)

A credit card is a handy "convenience", rather than having to carry a bunch of cash.  It is absolutely necessary if you want to do any online shopping.  If you pay off the full balance when the bill comes, and it gives you a small "cash back" every month, it can help reduce your overall costs.  However, if a person just makes minimum payments on their statements, it can drive a person into bankruptcy.


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## StarSong (Apr 4, 2022)

Don M. said:


> A credit card is a handy "convenience", rather than having to carry a bunch of cash.  It is absolutely necessary if you want to do any online shopping.  If you pay off the full balance when the bill comes, and it gives you a small "cash back" every month, it can help reduce your overall costs.  However, if a person just makes minimum payments on their statements, it can drive a person into bankruptcy.


Agree completely.  Credit cards are a great tool and are especially helpful for shopping on line.


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## Jules (Apr 4, 2022)

Tara’s situation is unique.  She lives in a non-profit where she’s able to live even when all her money is gone.  A credit card may not be permitted because of the debt that could be wracked up.


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## Packerjohn (Apr 4, 2022)

Yes, get a credit card.  I have 3 of them and when I use any of them I pay the amount off and never pay interest.  You don't need 3 but get one anyway.  Who knows, you might get into some sort of emergency or perhaps find a boy friend in a far away city or another country that you just might want to visit.


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## Lee (Apr 4, 2022)

A few years back on an application for an apartment I was rejected because I had no credit score ZERO which I thought was a good thing. It is not.

Always used cash or debit.

I applied for a credit card which is paid off every billing cycle and now have a great credit score.


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## Aunt Bea (Apr 4, 2022)

Cosette said:


> Not to sound too morbid, but if you're going to pass away soon and you know it, take out as many credit cards as possible. The companies can't go after you when you are dead, they can't turn you down because of your age, the credit collection agencies cannot go after the inheritance you may leave your children, and if you never plan on paying back the principal or interest there is nothing the card company can do. Especially if you don't have any income- they can't even touch your social security (in the US anyway) so just run it up. Big downside to that is I'm not the only person that knows such information. If you have family with your personal information they may start doing the same thing but in your name thinking 'well, she's going to croak anyway, so why not?'. Look, I'm sorry, but that is the damned truth.


That is very bad advice with many dangerous half truths.


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## debodun (Apr 4, 2022)

When I did my father's sister's estate, I learned that about a year before she passed, she had obtained a credit card and ran up a $40K (about £30500) debt. I surmise she didn't understand how CCs work and thought it was "free" money, or she forgot, or just decided not to pay the debts incurred. You have to understand how it works and resist the temptation to over spend.


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## OneEyedDiva (Apr 4, 2022)

OMGoodness. Like @Aunt Bea pointed out..Cosette has given you *terrible *advice!  I'm a proponent of using credit cards *to my advantage *like @C50 and @Pappy pointed out. If you are thinking of getting a credit card to cover bills you can't afford to pay up front and intend to carry balances each month, then I'd advise against it. But if you will pay your credit card bills *in full each month*, then I say go for it.

I'm 75 and got my first, unsolicited major credit card at age 23, much to my surprise. I always paid my balances in full and never paid fees.
Credit cards are safer to use than debit cards. Since you don't have a credit rating now, it may not be easy to get a credit card.* If* you can get a credit card and are able to get one that gives cash back rewards, all the better. I have literally gotten about $7,000 in cash back rewards over the last 10 years. But don't fall for the credit card schemes, usually aimed at those who can't get cards otherwise, that charge monthly fees for having their cards. If you do get a card, good habits leading to building a good credit score (FICO score) will be of benefit to you. You will have access to more attractive credit card offers and certain things are less expensive. For instance, if you still drive you may get a better car insurance rate.

Wishing you the best in whatever you decide.


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## Ladybj (Apr 4, 2022)

Tara said:


> I am a 75 yr old woman.   I recently moved into. a retirement community.   It is  a nonprofit .  So they will keep you  even after your money is gone.you have to pay. A lot into it.    I had to sell  my house and. I get some  money from my. Dead brother's 401k. Account.    I get. a small.  Social security check.       The. Money is. Going. down now.
> Would it make any sense to. get. a. Credit. Card?     I do not have any. Credit now.    Not for many years.  I do not. Even know. If. It is allowed .


If your money is going down, a Credit Card will decrease your money further... just my opinion.


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## Ken N Tx (Apr 5, 2022)

Don M. said:


> However, if a person just makes minimum payments on their statements, it can drive a person into bankruptcy.


Been there done that!!!


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