Best reward card for Seniors

[Anonymous]

My parents are in their 70s and are living on a fixed income (40k)

They have excellent credit at 840 with one credit card (MasterCard) 2705/28000 (9.7%)

They havent missed a payment in 32 years!

I want them to do a CLI on their MasterCard and have them apply for one or 2 more with cash back perks.

I see there is an AARP card with cash back benefits. Is that a good one? any others out there?

Thanks in advance

-Brew

[Anonymous]

But why? If they've successfully made it that far in life with what they have then what is driving your need or desire to change it? 

AARP does seem like a good card though, depending on how they normally spend their money.

[Anonymous]

because they have no perks and I want to get them cash back options

[Kforce]

It all depends on where they spend money !!

Many seniors travel and a good travel card might be the ticket, however many eat out and spend time playing golf and never travel. We also do not know what card they have now. If the current card is not a general spend cashback. I would say to get a Visa or MC that has 2% cashback and another card that gives rewards in the categories that they spend in. Good reward cards are numerous. A few of my favorites are the US-Bank Cash+ (5% in 2 categories you pick), and the Bank of the West Cashback MC (3% Grocery, Restaurant, Fast Food, Gas). As for the general spend 2% I use my FNBO Cashback the most. I have a few places that do not except MC. More popular than the FNBO is the Citi Double Cash (also a good choice). If you post approx spend in categories, many will help you narrow the choice. A lot less reading and research for you.   

[Anonymous]

I rather like their simplicity; one card with a great limit and low APR. Why make things more difficult? I had tried in vein to get my parents to open a rewards card but they do not care about that. Everytime I see my mom pay with the debit card I tell her about how she could earn travel points or cash back.

I see in your signature that you are a member of NFCU and USAA. Those are great places to start. However, if they want "simplicity", a PenFed Power Cash Rewards card could give them 2% cash back on everything (with either a PenFed checking account with $500 sitting in it, or prior military service) and of course, the Citi Double Cash card (warning, low initial credit lines). Again...hoops to jump through.

Other than that, yes, the AARP gives good cash back on dining. The USAA Preferred Cash Rewards Amex gives 5% on gas up to $3,000 (in gas purchases) per year and 2% on the first $2000 of groceries per year.

Again though...seeing where they are coming from with one MasterCard it does not seem like they want to play the game that we all do with changing cards for different cash back. I am half their age and I am already getting tired of it LOL.  Let us know if you convince them to get a new card. 

[Anonymous]

I don't think they should just go after cards that target senior citzens. They should go for something that supports their lifestyle. Do they like to travel? If they're retired, they can start churning credit cards to help fund their adventures.

[Anonymous]

thank you all.

they use it primarily for groceries and gas. not a lot of travel. an occasional home purchse like a washer or fridge

[Kforce]

Three years ago I had 2 CC's with no rewards and wanted to get a little cash back. ( Why not )  I am in the middle of my 7th decade, and enjoy getting 3% back on my spend. I also do not want a lot of cards however it is not a lot of work to manage 4 or 5.

[HeavenOhio]

The AARP card is a good fit for a lot of people. On this forum, we see people in thier 20s getting it. One piece of advice is to apply through the card's website rather than Chase's. The Chase site doesn't offer the sign-up bonus.

https://www.aarpcreditcard.com/

Along with that, I wonder if the OP's parent's current card can be PC'ed into something more lucrative.

[Anonymous]

Thank you. What is the best card for groceries and gas cash back with no annual fee?