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January 28, 2022
*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This article was last updated January 28, 2022 . Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
The Chase Freedom Flex℠ is our top overall pick for best credit card for seniors and retirees, since it offers long intro APR periods for both purchases and balance transfers, as well as an easy-to-earn sign-up bonus and generous cash back rate on travel, dining and drugstores, all for a $0 annual fee.
When you reach your retirement years, credit cards can become an important tool for maintaining credit health as a senior and/or retiree, and they can actually help put some extra cash in your pocket. The key is to make sure that once you’re on a fixed income, don’t overextend yourself. Using credit cards is an easy way to keep your credit file active and to maintain a good credit score.
Retirees can also leverage credit to help fuel their post-career passions, offset travel costs or put some cash back in their wallets by charging everyday expenses that are paid off at the end of the month.
To help cut through the clutter, we’ve put together a list of the best credit cards for seniors and retirees based on our research of cards available through LendingTree, as well as top cards offered by major issuers.
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The Chase Freedom Flex℠ lets cardholders 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
Plus, earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening!
Along with gift cards and travel, rewards can be redeemed for statement credits or direct deposit into most U.S. checking and savings accounts. You can also use rewards to pay for all or part of eligible Amazon.com orders at checkout, including tax and shipping.
This $0 annual fee card also comes with a 0% Intro APR on Purchases for 15 months, then a 17.99% - 26.74% variable APR will apply.
There’s also a 0% Intro APR on Balance Transfers for 15 months, with a regular 17.99% - 26.74% variable APR applying afterward. There is a balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. Then, either $5 or 5% of the amount of each transfer, whichever is greater.
Because the Chase Freedom Flex℠ offers an accelerated cash back rate for travel, dining and drugstore purchases, as well as in spending categories that rotate quarterly, you can potentially earn a generous amount of rewards from your purchases.
If you max out the quarterly $1,500 spend cap, you can earn $300 back on those purchases alone each year. Just know, you must activate the rotating categories each quarter in order to earn the bonus cash back rate.
Plus, if you’re facing a large purchase or need to move high-interest debt via a balance transfer, the Chase Freedom Flex℠ allows an interest-free period of more than a year, where 100% of your payments will go toward the balance rather than the balance plus interest charges. Plus, the sign-up bonus you receive after meeting the spending requirement with the card can help knock down your balance as well.
However, if you’re planning on traveling abroad, you’d be better served to bring along a card other than the Chase Freedom Flex℠ — it charges a foreign transaction fee of 3% of each transaction in U.S. dollars.
The Chase Freedom Flex℠ lets cardholders 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
Plus, earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening!
Along with gift cards and travel, rewards can be redeemed for statement credits or direct deposit into most U.S. checking and savings accounts. You can also use rewards to pay for all or part of eligible Amazon.com orders at checkout, including tax and shipping.
This $0 annual fee card also comes with a 0% Intro APR on Purchases for 15 months, then a 17.99% - 26.74% variable APR will apply.
There’s also a 0% Intro APR on Balance Transfers for 15 months, with a regular 17.99% - 26.74% variable APR applying afterward. There is a balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. Then, either $5 or 5% of the amount of each transfer, whichever is greater.
Because the Chase Freedom Flex℠ offers an accelerated cash back rate for travel, dining and drugstore purchases, as well as in spending categories that rotate quarterly, you can potentially earn a generous amount of rewards from your purchases.
If you max out the quarterly $1,500 spend cap, you can earn $300 back on those purchases alone each year. Just know, you must activate the rotating categories each quarter in order to earn the bonus cash back rate.
Plus, if you’re facing a large purchase or need to move high-interest debt via a balance transfer, the Chase Freedom Flex℠ allows an interest-free period of more than a year, where 100% of your payments will go toward the balance rather than the balance plus interest charges. Plus, the sign-up bonus you receive after meeting the spending requirement with the card can help knock down your balance as well.
However, if you’re planning on traveling abroad, you’d be better served to bring along a card other than the Chase Freedom Flex℠ — it charges a foreign transaction fee of 3% of each transaction in U.S. dollars.
The Wells Fargo Reflect® Card offers one of the longest introductory APR periods currently available for purchases. Cardholders receive a 0% intro APR up to 21 months from account opening on purchases. A regular 16.74% - 28.74% variable APR applies afterwards.
In addition, the card offers a 0% intro APR up to 21 months from account opening on qualifying balance transfers; after that, a regular 16.74% - 28.74% variable APR applies. There is also a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5.
Note that cardholders initially get 18 months of intro APR on purchases and balance transfers, with an opportunity to earn an extension of up to three months by making on-time payments.
The Wells Fargo Reflect® Card comes with a $0 annual fee, but comes with a foreign transaction fee of 3% on purchases made abroad.
If you need to finance a large purchase, like home or car repairs, the Wells Fargo Reflect® Card lets you do so interest-free for a year and a half. Plus, cardholders can receive an intro APR extension of up to three months with on-time minimum payments during the introductory and extension periods.
Just know that you won’t earn cash back or points on these purchases, since the Wells Fargo Reflect® Card does not come with a rewards program. If you’re looking for a credit card that provides value after its intro period expires, there are some other cards in this list that offer ongoing rewards.
If you decide to transfer a balance, you’ll be subject to a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5. For example, if you transfer $8,000 to the Wells Fargo Reflect® Card within the first 120 days, the balance transfer fee will be $240.
While it’s typical for a balance transfer card to charge a balance transfer fee, there are a few select cards available with no fee.
The Wells Fargo Reflect® Card offers one of the longest introductory APR periods currently available for purchases. Cardholders receive a 0% intro APR up to 21 months from account opening on purchases. A regular 16.74% - 28.74% variable APR applies afterwards.
In addition, the card offers a 0% intro APR up to 21 months from account opening on qualifying balance transfers; after that, a regular 16.74% - 28.74% variable APR applies. There is also a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5.
Note that cardholders initially get 18 months of intro APR on purchases and balance transfers, with an opportunity to earn an extension of up to three months by making on-time payments.
The Wells Fargo Reflect® Card comes with a $0 annual fee, but comes with a foreign transaction fee of 3% on purchases made abroad.
If you need to finance a large purchase, like home or car repairs, the Wells Fargo Reflect® Card lets you do so interest-free for a year and a half. Plus, cardholders can receive an intro APR extension of up to three months with on-time minimum payments during the introductory and extension periods.
Just know that you won’t earn cash back or points on these purchases, since the Wells Fargo Reflect® Card does not come with a rewards program. If you’re looking for a credit card that provides value after its intro period expires, there are some other cards in this list that offer ongoing rewards.
If you decide to transfer a balance, you’ll be subject to a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5. For example, if you transfer $8,000 to the Wells Fargo Reflect® Card within the first 120 days, the balance transfer fee will be $240.
While it’s typical for a balance transfer card to charge a balance transfer fee, there are a few select cards available with no fee.
The Fidelity® Rewards Visa Signature® Card is a $0 annual fee card that helps seniors and retirees invest more into their Fidelity accounts.
Cardholders can earn unlimited 2% cash back on everyday purchases. Every $2,500 spent equals a $50 deposit into your eligible Fidelity account. Eligible accounts include your Fidelity brokerage, IRA, HSA, 529 and more.
This card doesn’t offer a sign-up bonus, but it has a relatively low APR of 16.99% variable — however, it doesn’t offer an introductory APR period.
This card is best for seniors and retirees who want to focus on putting more money in their Fidelity accounts. Considering there’s no cap on your earnings, its simple rewards rate can quickly add to your savings accounts.
You can redeem your rewards as cash back, though there are more flexible cards to choose from like the Chase Freedom Flex℠.
And if you’re travel internationally frequently, then this card might not be the best way to add to your savings, because of its foreign transaction fee — up to 1% of each foreign transaction amount.
The Fidelity® Rewards Visa Signature® Card is a $0 annual fee card that helps seniors and retirees invest more into their Fidelity accounts.
Cardholders can earn unlimited 2% cash back on everyday purchases. Every $2,500 spent equals a $50 deposit into your eligible Fidelity account. Eligible accounts include your Fidelity brokerage, IRA, HSA, 529 and more.
This card doesn’t offer a sign-up bonus, but it has a relatively low APR of 16.99% variable — however, it doesn’t offer an introductory APR period.
This card is best for seniors and retirees who want to focus on putting more money in their Fidelity accounts. Considering there’s no cap on your earnings, its simple rewards rate can quickly add to your savings accounts.
You can redeem your rewards as cash back, though there are more flexible cards to choose from like the Chase Freedom Flex℠.
And if you’re travel internationally frequently, then this card might not be the best way to add to your savings, because of its foreign transaction fee — up to 1% of each foreign transaction amount.
The Simmons Visa® offers 0% intro APR for 12 months on balance transfers completed within 60 days of account opening, after which a 12.50% to 20.50% variable APR applies. There’s a balance transfer fee of either $10 or 3% of the amount of each balance transfer, whichever is greater and a foreign transaction fee of 2% of each transaction in US dollars.
This is also a $0 annual fee card.
When possible, it’s best to avoid rolling over a balance from month to month — unless you’re in a 0% intro APR period. However, sometimes life gets in the way and carrying a balance is unavoidable; in such a situation, having a card with a low APR can help you save money on interest charges.
The Simmons Visa®‘s regular purchase APR is 12.50% to 20.50% variable, which is quite reasonable — especially if your APR is set at the lower end of that range. In cases where you have to carry a balance, the Simmons Visa® is a good card to have.
The Simmons Visa® offers 0% intro APR for 12 months on balance transfers completed within 60 days of account opening, after which a 12.50% to 20.50% variable APR applies. There’s a balance transfer fee of either $10 or 3% of the amount of each balance transfer, whichever is greater and a foreign transaction fee of 2% of each transaction in US dollars.
This is also a $0 annual fee card.
When possible, it’s best to avoid rolling over a balance from month to month — unless you’re in a 0% intro APR period. However, sometimes life gets in the way and carrying a balance is unavoidable; in such a situation, having a card with a low APR can help you save money on interest charges.
The Simmons Visa®‘s regular purchase APR is 12.50% to 20.50% variable, which is quite reasonable — especially if your APR is set at the lower end of that range. In cases where you have to carry a balance, the Simmons Visa® is a good card to have.
The Chase Sapphire Preferred® Card is one of the top-rated travel cards available for a reasonable annual fee.
For new cardholders, there is a generous sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Plus, for ongoing rewards, earn 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases. In particular, cardholders get 25% more value when you redeem points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®.
The Chase Sapphire Preferred® Card also comes with a slew of travel protections, too, such as trip cancellation/interruption insurance, auto rental collision damage waiver, lost luggage insurance and more.
Plus, there are $0 foreign transaction fees.
For seniors on the go, the Chase Sapphire Preferred® Card is well worth the $95 annual fee, given the value, flexibility and benefits that come with the card. You can use points or points-plus-cash to make travel arrangements with a variety of travel partners, or transfer your points directly to one of travel loyalty programs listed below.
Points can be redeemed for airfare, car rentals, hotels and myriad other travel expenses booked through the Chase Ultimate Rewards® portal. Your points can also be transferred at a 1:1 value to the following airline and hotel partners:
The Chase Sapphire Preferred® Card is a perfect travel companion and can help offset some of those expenses — as well as provide added value by offering an elevated rewards earning rate for not only travel purchases, but also for dining, grocery and select streaming services.
The Chase Sapphire Preferred® Card is one of the top-rated travel cards available for a reasonable annual fee.
For new cardholders, there is a generous sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Plus, for ongoing rewards, earn 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases. In particular, cardholders get 25% more value when you redeem points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®.
The Chase Sapphire Preferred® Card also comes with a slew of travel protections, too, such as trip cancellation/interruption insurance, auto rental collision damage waiver, lost luggage insurance and more.
Plus, there are $0 foreign transaction fees.
For seniors on the go, the Chase Sapphire Preferred® Card is well worth the $95 annual fee, given the value, flexibility and benefits that come with the card. You can use points or points-plus-cash to make travel arrangements with a variety of travel partners, or transfer your points directly to one of travel loyalty programs listed below.
Points can be redeemed for airfare, car rentals, hotels and myriad other travel expenses booked through the Chase Ultimate Rewards® portal. Your points can also be transferred at a 1:1 value to the following airline and hotel partners:
The Chase Sapphire Preferred® Card is a perfect travel companion and can help offset some of those expenses — as well as provide added value by offering an elevated rewards earning rate for not only travel purchases, but also for dining, grocery and select streaming services.
The Blue Cash Preferred® Card from American Express offers the highest cash back rate we’re aware of on U.S. supermarket purchases. Cardholders earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply. Your cash back can be redeemed as a statement credit.
You can also earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Plus, there’s an intro APR of 0% on purchases for 12 months, after which a 17.74%-28.74% variable APR applies.
Note, however, that there’s a $0 intro annual fee for the first year, then $95 annual fee for this card.
To see rates & fees for Blue Cash Preferred® Card from American Express please click here.
While the Blue Cash Preferred® Card from American Express does charge a $0 intro annual fee for the first year, then $95 annual fee, it’s worth it for consumers whose budgets feature significant spending on grocery shopping, gas and transit. For example, by maxing out the $6,000 spending cap on U.S. supermarket purchases, you could earn $360 in cash back — which is more than enough to recoup the annual fee each year.
To see rates & fees for Blue Cash Preferred® Card from American Express please click here.
*Terms apply
The Blue Cash Preferred® Card from American Express offers the highest cash back rate we’re aware of on U.S. supermarket purchases. Cardholders earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply. Your cash back can be redeemed as a statement credit.
You can also earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Plus, there’s an intro APR of 0% on purchases for 12 months, after which a 17.74%-28.74% variable APR applies.
Note, however, that there’s a $0 intro annual fee for the first year, then $95 annual fee for this card.
To see rates & fees for Blue Cash Preferred® Card from American Express please click here.
While the Blue Cash Preferred® Card from American Express does charge a $0 intro annual fee for the first year, then $95 annual fee, it’s worth it for consumers whose budgets feature significant spending on grocery shopping, gas and transit. For example, by maxing out the $6,000 spending cap on U.S. supermarket purchases, you could earn $360 in cash back — which is more than enough to recoup the annual fee each year.
To see rates & fees for Blue Cash Preferred® Card from American Express please click here.
*Terms apply
With the Costco Anywhere Visa® Card by Citi, you’ll earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases. If you max out the elevated rate on gas, that’s $280 in cash back.
The card charges a $0 annual fee. However, note that you’ll need a Costco membership to be eligible for the card, and that membership will run you $60 or $120 per year depending on membership type.
At 18.99% (variable), the APR is reasonable, but its 0% foreign transaction fee makes it a fine card to take when traveling abroad.
Costco is known for great deals for shoppers willing to buy in bulk. If that’s you, getting the Costco Anywhere Visa® Card by Citi is a no-brainer. Just know your cash back is only disbursed once a year, and comes in the form of a reward certificate issued after your February billing statement closes. You can redeem the certificate for cash or merchandise at Costco warehouses in the U.S. (including Puerto Rico).
With the Costco Anywhere Visa® Card by Citi, you’ll earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases. If you max out the elevated rate on gas, that’s $280 in cash back.
The card charges a $0 annual fee. However, note that you’ll need a Costco membership to be eligible for the card, and that membership will run you $60 or $120 per year depending on membership type.
At 18.99% (variable), the APR is reasonable, but its 0% foreign transaction fee makes it a fine card to take when traveling abroad.
Costco is known for great deals for shoppers willing to buy in bulk. If that’s you, getting the Costco Anywhere Visa® Card by Citi is a no-brainer. Just know your cash back is only disbursed once a year, and comes in the form of a reward certificate issued after your February billing statement closes. You can redeem the certificate for cash or merchandise at Costco warehouses in the U.S. (including Puerto Rico).
The AARP® Essential Rewards Mastercard® lets cardholders earn unlimited 3% cash back on gas and drugstore purchases (excluding Target and Walmart), unlimited 2% cash back on medical expenses, unlimited 1% cash back on all other purchases — plus, earn a $200 cash back bonus after spending $500 on purchases in the first 90 days. Not to mention, you get all that for a $0 annual fee.
If you happen to be carrying debt on another card, you can also transfer it to this one and enjoy a 0% introductory APR for the first 15 billing cycles following each balance transfer that posts to your account within 45 days of account opening (afterward, a 19.74%, 23.74% or 28.74% variable APR applies).
The balance transfer fee is either $5 or 5% of the amount of each transfer, whichever is greater.
In addition, if traveling abroad, beware the foreign transaction fee of 3% of each transaction in U.S. dollars.
If a substantial portion of your budget is comprised of trips to the doctor and visits to the drugstore, the AARP® Essential Rewards Mastercard® is well worth considering. The “medical purchases” category includes the following:
The AARP® Essential Rewards Mastercard® lets cardholders earn unlimited 3% cash back on gas and drugstore purchases (excluding Target and Walmart), unlimited 2% cash back on medical expenses, unlimited 1% cash back on all other purchases — plus, earn a $200 cash back bonus after spending $500 on purchases in the first 90 days. Not to mention, you get all that for a $0 annual fee.
If you happen to be carrying debt on another card, you can also transfer it to this one and enjoy a 0% introductory APR for the first 15 billing cycles following each balance transfer that posts to your account within 45 days of account opening (afterward, a 19.74%, 23.74% or 28.74% variable APR applies).
The balance transfer fee is either $5 or 5% of the amount of each transfer, whichever is greater.
In addition, if traveling abroad, beware the foreign transaction fee of 3% of each transaction in U.S. dollars.
If a substantial portion of your budget is comprised of trips to the doctor and visits to the drugstore, the AARP® Essential Rewards Mastercard® is well worth considering. The “medical purchases” category includes the following:
Cardholders with the Citi® Double Cash Card earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
There’s also a lengthy intro APR offer: 0% for 18 months on balance transfers, after which a 17.74% - 27.74% (variable) APR applies. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
And while the annual fee is $0, beware the 3% foreign transaction fee.
Some of the credit cards on this list offer elevated rewards in certain categories — such as dining or drugstore purchases — but have subpar rates on purchases that don’t fall into those categories. If that sounds like too much hassle to keep up with, or if your spending doesn’t fit neatly into such rewards categories, a flat-rate rewards program can simplify things.
The Citi® Double Cash Card is one of the top flat-rate cards on the market, letting cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Cardholders with the Citi® Double Cash Card earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
There’s also a lengthy intro APR offer: 0% for 18 months on balance transfers, after which a 17.74% - 27.74% (variable) APR applies. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
And while the annual fee is $0, beware the 3% foreign transaction fee.
Some of the credit cards on this list offer elevated rewards in certain categories — such as dining or drugstore purchases — but have subpar rates on purchases that don’t fall into those categories. If that sounds like too much hassle to keep up with, or if your spending doesn’t fit neatly into such rewards categories, a flat-rate rewards program can simplify things.
The Citi® Double Cash Card is one of the top flat-rate cards on the market, letting cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
| Credit Card | Welcome Offer | Rewards Rate | Annual Fee | Intro Purchase APR | Regular APR | Intro Balance Transfer Rate | Regular Balance Transfer Rate | Balance Transfer Fee | Recommended Credit | Card Review |
|---|---|---|---|---|---|---|---|---|---|---|
|
Chase Freedom Flex℠
|
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening! | 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases. | $0 | 0% Intro APR on Purchases for 15 months | 17.99% - 26.74% Variable | 0% Intro APR on Balance Transfers for 15 months | 17.99% - 26.74% Variable | Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. Then, either $5 or 5% of the amount of each transfer, whichever is greater. | Excellent/Good | Chase Freedom Flex℠ Review |
|
Wells Fargo Reflect® Card
|
N/A | None | $0 | 0% intro APR up to 21 months from account opening | 16.74% - 28.74% variable APR | 0% intro APR up to 21 months from account opening on qualifying balance transfers | 16.74% - 28.74% variable APR | 3% for 120 days from account opening, then up to 5%; min: $5 | Excellent/Good | Wells Fargo Reflect® Card Review |
|
Fidelity® Rewards Visa Signature® Card
|
None | Unlimited 2% cash back on everyday purchases | $0 | N/A | 16.99% variable | N/A | 16.99% Variable | $5 or 3% of the transfer amount, whichever is greater | Excellent | Fidelity® Rewards Visa Signature® Card Review |
|
Simmons Visa®
|
N/A | N/A | $0 | N/A | 12.50% to 20.50% variable | 0% intro APR for 12 months on balance transfers completed within 60 days of account opening | 12.50% to 20.50% variable | either $10 or 3% of the amount of each balance transfer, whichever is greater | N/A | Review Coming Soon |
|
Chase Sapphire Preferred® Card
|
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®. | 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases | $95 | N/A | 18.99% - 25.99% Variable | N/A | 18.99% - 25.99% Variable | Either $5 or 5% of the amount of each transfer, whichever is greater. | Excellent | Chase Sapphire Preferred® Card Review |
|
Blue Cash Preferred® Card from American Express
|
Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. | 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply. | $0 intro annual fee for the first year, then $95 | 0% on purchases for 12 months | 17.74%-28.74% Variable | 0% on balance transfers for 12 months | 17.74%-28.74% Variable | Either $5 or 3% of the amount of each transfer, whichever is greater. | Excellent/Good | Blue Cash Preferred® Card from American Express Review |
|
Costco Anywhere Visa® Card by Citi
|
N/A | 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases | $0 | N/A | 18.99% (Variable) | N/A | 18.99% (Variable) | Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum | Excellent | Costco Anywhere Visa® Card by Citi Review |
|
AARP® Essential Rewards Mastercard®
|
earn a $200 cash back bonus after spending $500 on purchases in the first 90 days | earn unlimited 3% cash back on gas and drugstore purchases (excluding Target and Walmart), unlimited 2% cash back on medical expenses, unlimited 1% cash back on all other purchases | $0 | N/A | 19.74%, 23.74% or 28.74% | 0% introductory APR for the first 15 billing cycles following each balance transfer that posts to your account within 45 days of account opening | 19.74%, 23.74% or 28.74% | either $5 or 5% of the amount of each transfer, whichever is greater | N/A | Review Coming Soon |
|
Citi® Double Cash Card – 18 month BT offer
|
None | Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. | $0 | N/A | 17.74% - 27.74% (Variable) | 0% for 18 months on Balance Transfers | 17.74% - 27.74% (Variable) | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. | Excellent/Good | Citi® Double Cash Card – 18 month BT offer Review |
To select the best card for each of these categories, our credit card experts compared a broad range of credit card offers on LendingTree.com and major issuer sites that would best serve seniors and retirees, including travel and cash back rewards cards, 0% intro APR credit cards, grocery and dining spending and more.
We chose our top picks based on a variety of factors, including rewards programs, annual fees and interest rates. Other factors that came into play when making our selection include the benefits offered by the card, such as travel insurance and extended warranty protections.
To see rates & fees for Blue Cash Preferred® Card from American Express please click here.
When choosing the best credit card as a senior or retiree, consider the following questions:
By answering these questions, you can evaluate which card is best for your needs.
For example, if you love to travel, the Chase Sapphire Preferred® Card can help offset some of your travel expenditures. Or, if you spend a lot on grocery shopping because you love to host family meals, the Blue Cash Preferred® Card from American Express offers generous rewards on U.S. supermarket purchases.
However, both of the cards mentioned above charge an annual fee. It’s important to evaluate whether an annual fee will be outweighed by the value you get from the card.
But if your budget isn’t heavily comprised of categories the Blue Cash Preferred® Card from American Express rewards at an elevated rate, a flat-rate card with a $0 annual fee such as the Citi® Double Cash Card might suit you better.
Finally, consider any memberships you can leverage. For example, Costco members can reap rewards for gas and Costco shopping with the Costco Anywhere Visa® Card by Citi. Or, if you qualify for USAA membership through military service, you might consider the USAA® Cashback Rewards Plus American Express® Card for cash back on gas or the USAA® Rate Advantage Visa Platinum® Card for a potentially low interest rate.
Maintaining an active credit profile later in life is important because it’ll help you access financial products at better rates when you need them. For example, if you want to get a great rate on a loan for an RV to travel the country, an exceptional credit score can help with that. By contrast, if you don’t keep up an active credit profile, you might have trouble getting approvals at all. A closed account that was in good standing will fall off your credit reports after 10 years, so even if you managed credit responsibly in the past, lenders will want to see more recent history — such as an active credit card.
No, there is not a maximum age to apply for a credit card. And because of the Equal Credit Opportunity Act, lenders are prohibited from discriminating against applicants based on age, as well as a variety of other factors. Any institution that grants credit (as well as those involved in setting the terms of credit products) is subject to this law.
Yes, Social Security income can be included on a credit card application. Under the Equal Credit Opportunity Act, lenders are not allowed to discount income from Social Security, pensions or annuities. It’s also important to note you can include a spouse’s income on your application.
The above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.
