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Credit Cards and Retirement

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baronetheanvil
Established Member

Credit Cards and Retirement

There was an excellent thread in the applications section on getting applications approved after retirement. I wanted to approach the subject from the direction of being able to keep the cards and the credit limits you have after retirement. I am looking to retire next year at 58, What are others views and experiences on using cards after retirement. Have you faced any card cancellations or CLI reductions?

Message 1 of 9
8 REPLIES 8
Kforce
Senior Contributor

Re: Credit Cards and Retirement


@baronetheanvil wrote:

There was an excellent thread in the applications section on getting applications approved after retirement. I wanted to approach the subject from the direction of being able to keep the cards and the credit limits you have after retirement. I am looking to retire next year at 58, What are others views and experiences on using cards after retirement. Have you faced any card cancellations or CLI reductions?


I am sure a lot depends on your credit profile and finances.

I retired 13 years ago and have not had any cards canceled or CL decreases.

Have also not had any problems getting new cards.

 

Message 2 of 9
Anonymous
Not applicable

Re: Credit Cards and Retirement

Generally I have not been responding to the "Tell us your income" prompts on existing cards.   But as a test i recently reported a much decreased post-retirement household income to Chase, and no CLD so far

Message 3 of 9
Remedios
Credit Mentor

Re: Credit Cards and Retirement


@Kforce wrote:

@baronetheanvil wrote:

There was an excellent thread in the applications section on getting applications approved after retirement. I wanted to approach the subject from the direction of being able to keep the cards and the credit limits you have after retirement. I am looking to retire next year at 58, What are others views and experiences on using cards after retirement. Have you faced any card cancellations or CLI reductions?


I am sure a lot depends on your credit profile and finances.

I retired 13 years ago and have not had any cards canceled or CL decreases.

Have also not had any problems getting new cards.

 


@Kforce  you got new card like 12 years ago 

Message 4 of 9
Kforce
Senior Contributor

Re: Credit Cards and Retirement


@Remedios wrote:

@Kforce wrote:

@baronetheanvil wrote:

There was an excellent thread in the applications section on getting applications approved after retirement. I wanted to approach the subject from the direction of being able to keep the cards and the credit limits you have after retirement. I am looking to retire next year at 58, What are others views and experiences on using cards after retirement. Have you faced any card cancellations or CLI reductions?


I am sure a lot depends on your credit profile and finances.

I retired 13 years ago and have not had any cards canceled or CL decreases.

Have also not had any problems getting new cards.

 


@Kforce  you got new card like 12 years ago 


 Heart   Smiley LOL

I know it seems like that but in truth, when working I only had 3 cards.

It was retirement and this forum that ruined  me.

It started with two SalieMae's then the Bank of the West, USBank Cash+, FNBO travel elite, and last year that 3% USAlliance, and a second 3% - January this year.

 

I have been closings some. ( 3 this year ).

Now only 6 cards, with 2 marked for closure next year.

Message 5 of 9
Remedios
Credit Mentor

Re: Credit Cards and Retirement


@Kforce wrote:

@Remedios wrote:

@Kforce wrote:

@baronetheanvil wrote:

There was an excellent thread in the applications section on getting applications approved after retirement. I wanted to approach the subject from the direction of being able to keep the cards and the credit limits you have after retirement. I am looking to retire next year at 58, What are others views and experiences on using cards after retirement. Have you faced any card cancellations or CLI reductions?


I am sure a lot depends on your credit profile and finances.

I retired 13 years ago and have not had any cards canceled or CL decreases.

Have also not had any problems getting new cards.

 


@Kforce  you got new card like 12 years ago 


 Heart   Smiley LOL

I know it seems like that but in truth, when working I only had 3 cards.

It was retirement and this forum that ruined  me.

It started with two SalieMae's then the Bank of the West, USBank Cash+, FNBO travel elite, and last year that 3% USAlliance, and a second 3% - January this year.

 

I have been closings some. ( 3 this year ).

Now only 6 cards, with 2 marked for closure next year.


Oh I didn't know that ❤️🤣

 

Message 6 of 9
unsungivy
Valued Contributor

Re: Credit Cards and Retirement


@Remedios wrote:

@Kforce wrote:

@Remedios wrote:

@Kforce wrote:

@baronetheanvil wrote:

There was an excellent thread in the applications section on getting applications approved after retirement. I wanted to approach the subject from the direction of being able to keep the cards and the credit limits you have after retirement. I am looking to retire next year at 58, What are others views and experiences on using cards after retirement. Have you faced any card cancellations or CLI reductions?


I am sure a lot depends on your credit profile and finances.

I retired 13 years ago and have not had any cards canceled or CL decreases.

Have also not had any problems getting new cards.

 


@Kforce  you got new card like 12 years ago 


 Heart   Smiley LOL

I know it seems like that but in truth, when working I only had 3 cards.

It was retirement and this forum that ruined  me.

It started with two SalieMae's then the Bank of the West, USBank Cash+, FNBO travel elite, and last year that 3% USAlliance, and a second 3% - January this year.

 

I have been closings some. ( 3 this year ).

Now only 6 cards, with 2 marked for closure next year.


Oh I didn't know that ❤️🤣

 


It's all about his secret 3% MC... 🤣

AU - Sock - On my
Biz - Debit Cards -
Message 7 of 9
Anonymous
Not applicable

Re: Credit Cards and Retirement


@unsungivy wrote:

 


It's all about his secret 3% MC... 🤣


Right, time for some peer pressure:  "It's not nice to keep valuable secrets from your pals in MyFico who have given you so much information over the years.   Is it really just Take Take Take?"

 

That's why I never mention my secret flat rate 5% rewards 0% APR for ever card (a.k.a the never pay card)

Message 8 of 9
Kforce
Senior Contributor

Re: Credit Cards and Retirement


@Anonymous wrote:

@unsungivy wrote:

 


It's all about his secret 3% MC... 🤣


Right, time for some peer pressure:  "It's not nice to keep valuable secrets from your pals in MyFico who have given you so much information over the years.   Is it really just Take Take Take?"

 

That's why I never mention my secret flat rate 5% rewards 0% APR for ever card (a.k.a the never pay card)


peer2.jpg

Message 9 of 9
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