Credit Card for 70 year old

Newly_retired

I have opened new bank accounts since I retired and also got a credit card with one of them, Halifax, with no difficulty. I am not yet 70 though.

Savvy_Sue

I did have another thought, and again, it may not be something which she wants to do, but it depends why she wants a credit card.

When DS1 and DS2 were 20 and 18 and we were going to the USA, we added each of them to one of our cards, a good one for using abroad at the time. That way they were not having to carry lots of $ in cash, but they could still take care of themselves. They still use these cards, and we rarely do. The bills come to us, but they pay them: any problem and we cancel the cards.

My theory was that this would make it easier for them to get a credit card in their own name. Neither has shown any inclination to do so, even though it means I can monitor their spending and comment on it!

Obviously adding someone to your credit card isn't to be done lightly, but I would, for example, be happy to do this for my mum under the right circumstances, even though I know I'd then be liable for any debt she ran up.

hippygran

My dad managed to get one from the Halifax with no bother (well not to him or the Halifax anyway!).

He had a very poor credit history, had only a PO account for his state pension, and a savings account with the Halifax (in joint names with my sister, as they didn't regard him as credit worthy enough for any other type of account!), which had to be opened when my mom died 4 years earlier, for his company pension to be paid in to.

He was 71 when Halifax granted him a credit card, he drew it up to the limit (luckily only £500), almost immediately, then a couple of months later had a stroke, so we paid it off and destroyed the card while he was hospitalized. Luckily for the Halifax as it turned out, since he never recovered fully and is now on palliative care, and has vascular dementia.

I was annoyed at the time, that he had managed to get the card so easily, and thought it was irresponsible lending, and the lender was nuts.

The point is that a pensioner with an incredibly poor credit history (bankrupt twice - lost house and everything), not allowed 'proper' bank accounts, no equity, no property found it SO easy to get a card from the Halifax, yet MIL who is the opposite, has always been solvent, and actually very well off had her catalogue credit account which she had had for over 30 years) withdrawn on reaching her 70th birthday, and got told she had to pay for all items with cash in future!!

So it will vary from lender to lender, and I know c/c's can be useful for some purchases, and good idea or not? Its up to the lady in question, so maybe try the Halifax?